Ream's Drug Store v. Bank of the Monongahela Valley

Hatcher, Judge:

The defendant bank was closed by the state commissioner of banking on December 31, 1930. Plaintiffs severally made deposits of money in the bank between December 22-31, inclusive. They maintain that the deposits should have the status of trust funds on the ground that the bank was hopelessly insolvent during that period, and that its condition was known to its officials. From findings in favor of plaintiffs aggregating $33,488.00, the receiver of the bank appealed.

The Pursglove Company and the Riverseam Company causes were matured for hearing at the January term 1933 of the…