Holbrook Irrigation District v. First State Bank

Mr. Justice "Walker

delivered the opinion of the court.

This action was brought by the plaintiff in error against the defendants in error, for the purpose of obtaining a decree that a deposit standing to the credit of plaintiff in error in the First State Bank of Cheraw, in the sum of $5,412.34 should be paid by the state bank commissioner to the plaintiff in error, as a preferred claim upon all the assets of the bank. The bank suspended payment on August 24,1925, being then insolvent, and on that date the state bank commissioner took possession of its books, records and assets, for the purpose…