Webster v. United States Fidelity & Guaranty Co.

HUTCHESON, Circuit Judge.

For some time before it failed, Meeks, sheriff and tax collector of Alcorn county, Miss., had been carrying his current account with appellant hank, the duly designated depository of the county. On October 24,1931, the account was overdrawn $262.21, but collections coming in steadily thereafter, on November 19, -when the bank closed it showed a credit balance of $7,074.45. Meeks being unable to settle with the county, appellee, his surety, did so, and as equitable and conventional subrogee, brought this suit against the receiver, claiming the deposits as trust funds.

An…