Wapello State Savings Bank v. Colton
Supreme Court of Iowa
Appeal from Louisa District Court.— Hon. W. S. Withrow, Judge. Action to recover from defendant W. H. Colton, and the other defendants as sureties on his bond, the sum of $25,300 received by said Colton as the cashier of the plaintiff bank, and by him wrongfully appropriated to his own use, and not accounted for.
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Appeal from Louisa District Court.— Hon. W. S. Withrow, Judge. Action to recover from defendant W. H. Colton, and the other defendants as sureties on his bond, the sum of $25,300 received by said Colton as the cashier of the plaintiff bank, and by him wrongfully appropriated to his own use, and not accounted for. By motion, defendants raised the question as to the liability of the sureties for misappropriation of funds by the defendant Colton, after. the date of certain action of the board of trustees of the plaintiff bank, in reappointing said Colton as cashier, and the trial court,…
1Opinion of the Court
McClain, J.—
The facts as set out in the petition to which defendants’ motion was directed are that defendant Colton was, by plaintiff’s board of trustees, elected cashier of plaintiff bank on August 9, 1892, at a salary of $1,000 a year, his bond being fixed at $50,000. The required bond with codefendants as sureties was executed on the 16th of the same month, and was approved by the board of trustees on the 5th of September following. Colton was cashier of the plaintiff bank continuously from the time of his appointment until the 26th day of November, 1904, but, in the meantime, action with…
2Cases cited10 opinions
- Hubert v. MendheimCalifornia Supreme Court · 1883
- Amicable Mutual Life Insurance v. SedgwickMassachusetts Supreme Judicial Court · 1872
- Ida County Savings Bank v. SeidenstickerSupreme Court of Iowa · 1905
- Savings Bank v. HuntSupreme Court of Missouri · 1880
- Mobile & Montgomery Railway Co. v. BrewerSupreme Court of Alabama · 1884
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3Cited by3 opinions
- Wapello State Savings Bank v. ColtonSupreme Court of Iowa · 1909
- Kelley v. Moab State BankUtah Supreme Court · 1924
- Webster v. JossmanMichigan Supreme Court · 1917