Manker v. American Savings Bank & Trust Co.

In April, 1923, the appellant was the owner of two local improvement bonds issued by the city of Seattle, payable out of funds to he raised by special assessment in local improvement district No. 3,032. These bonds were in that month stolen from the appellant’s safety deposit box in a hank at Yashon, Washington, and thereafter came into the possession of the respondent hank, which purchased the same in *431the due course of business. The respondent city of Seattle has the funds on hand to pay these two bonds and has called for their payment, and this litigation concerns only the question whether…