American State Savings Bank v. City of Lansing

This is an appeal by defendant from a decree adjudging rights under a written agreement.

The American State Savings Bank of Lansing, previous to reorganization under the provisions of Act No. 8, Pub. Acts 1932 (1st Ex. Sess.), Avas the duly designated depository of the funds of the board of water and electric light commissioners of the city of Lansing and, as security, gave a bond, signed by its directors and, as additional security, placed in escrow, with the Central Trust Company of Lansing, negotiable bonds, qualified assets of the commercial department of the bank, some of which were so…