Farmers Co-Operative Creamery Co. v. Huhn

The plaintiff is a corporation engaged in buying and selling dairy products at Saranac, Michigan. In December, 1910, William H. Proctor, William Gunn, and Frank J. Gifford were copartners engaged in the banking business at Saranac, Michigan, under the assumed name of the Farmers & Merchants Bank. The plaintiff opened an account with this bank, but, before doing so, required a bond in the penal sum of $3,000 to secure it from loss by reason of the money which 'it might deposit “from time to time.” Such a bond was furnished April 23, 1917, by the bank, with Albert C. Reed and Norman J. Ogilvie…