Bramwell v. United States Fidelity & Guaranty Co.

January 28, 1922, the superintendent of the Klamath Indian Reservation had on deposit with the First State and Savings Bank of Klamath Falls, Oregon, $96,000, Indian moneys, individual and tribal. The bank had given a bond to the United States, with appellee as surety, to secure the payment of the deposit. It was insolvent and, on that day, suspended payment. Because of its condition, the board of directors passed a resolution giving full control of its affairs.to appellant. Pursuant to the-laws of. the State, he took possession and control of its property and business for the purpose of…