Braun v. Cox

Defendants’ note sued upon and real estate mortgage securing it were placed by plaintiffs, the holders, in the possession of the Security Savings Bank of Cedar Rapids, or of its assistant cashier, Kearney, personally, for collection. For the purpose of providing for their payment, defendants negotiated with the Old Colony Company of Des Moines a new loan secured by mortgage on the same property. On October 15, 1924, the Old Colony Company wrote to the Security Savings Bank a letter, inclosing its check on the United State Bank of Des Moines, payable to the order of the Security Savings Bank,…