First National Bank v. Board of Review of Newton

I. Appellant argues that the appeal from the board of review“was not the proper remedy. This question is settled by Griswold Land & Credit Co. v. County of Calhoun, 198 Iowa 1240, and by First Nat. Bank of Montezuma v. Board of Review, 199 Iowa 1124.

II. The cause was submitted to the trial court upon a stipulation of facts. It appears therefrom that the capital stock of appellee on January 1, 1922, was $100,000, and that at said time it had a surplus of $50,000 and undivided profits of $7,877.61. It appears that the deposits of said bank on that date were $840,338.87, of which deposits…