Snyder Independent School District v. Shaw

Mr. Judge SMEDLEY

delivered the opinion of the Commission of Appeals, Section B.

Defendant in error, The First State Bank & Trust Company, at Snyder, became depository of plaintiff in error, Snyder Independent School District, with plaintiffs in error, Ernest Taylor and H. P. Wellborn, and Sam Hamlett, sureties on the depository bond. The bank, becoming insolvent, passed into the hands of the Banking Commissioner of Texas for liquidation, and the claim of Snyder Independent School District was approved as a general unpreferred claim in the amount of $20,539.33. Taylor was indebted to the bank…