City of Cozad v. Thompson

On a trial to the court judgment was rendered against William T. Thompson, former city treasurer, and American Surety Company, of New York, surety on his official bond, for principal and interest found due upon the unpaid balance of city deposits made by the treasurer in Farmers State Bank of Cozad when that bank was in*80solvent, and while Thompson was admittedly a stockholder, director and officer of the bank. Defendants appealed.

Thompson was elected city treasurer for a term of two years commencing May 1, 1928. His official bond for $10,000 was' executed by himself and by the surety company…