Smouse v. Waterloo Savings Bank

— Two sets of notes are involved in this litigation. One set consists of two notes of $5,000 each, dated November 29, 1915. The other set involved seven notes of $5,000 each, dated January 23, 1922. By way of counterclaim, appel-. lant asked judgment against appellee on all of said notes.

Appellant is an Iowa corporation, with a capital of $100,000. It was incorporated in 1902. One Logan was cashier until June, 1917, when he became president, and had active management of the bank. The bank did an extensive business, having deposits of two million dollars at one time.

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