Monticello State Bank v. Schatz

The plaintiff bank, a pioneer banking institution, had been doing business in Monticello, Jones county, Iowa, for half a century. Carl A. Schatz, a pioneer farmer and stockman, had been a customer of this bank for fifty years up until about the time this suit was started in 1934. His line of credit amounted in September, 1929, to $21,650, personal notes. He owned a 200-acre farm in Jones county, a 171-aere farm in Howard county, a town property known as the Ohe house, and another town property, both in Monticello, the latter being his homestead where he had lived for several years prior to…