School District No. 1 v. Security State Bank

The appeal is by plaintiff from orders denying a new trial in two actions upon depository bonds, the trial having resulted in findings and conclusions of law in favor of the sureties in each case.

For several years prior to 1922 the Security State Bank of Grand Rapids had acted as a depository for plaintiff and in 1921 had furnished it a $75,000 depository bond, which the school board considered adequate to protect the moneys of the district deposited in that bank up to the time bonds in the sum of $250,000 were to be issued and sold for the purpose of erecting a high school building-in Grand…