Sneeden v. City of Marion, Ill.

I do not concur in the holding that there is in Illinois a public policy against permitting banks to pledge assets for securing public deposits unless authorized by a statute. I believe that Ward v. Johnson, 95 Ill. 215, sufficiently indicates the view of the Supreme Court that public policy in Illinois is not opposed to such pledges. he case has been quite frequently cited in other jurisdictions to support the proposition that in Illinois such pledge of assets is not contrary to the state’s public policy.

The recent ease of People ex rel. Nelson v. Peoples State Bank of Maywood, 266 Ill. App.…