Polk County v. Farmers' State Bank of Bolivar

This is a proceeding to establish a claim in the sum of $38,796.24 as preferred, against the assets of the defunct Farmers' State Bank of Bolivar, which assets were in the hands of the State Finance Department for the purpose of liquidation. The trial court ordered a preference in the sum of $13,000, and the balance of the sum as a common claim. From this judgment an appeal was taken by appellants, defendants below.

The defendant bank closed its doors on May 4, 1931. On May 6, 1929, it was designated, by the County Court of Polk County, as a depositary for one-half of the county funds. The…