Leach v. United State Bank

The original action in the causes consolidated on this appeal was an action for the appointment of a receiver, commenced by the superintendent of banking of the state of Iowa against the United State Bank of Des Moines, Iowa. A receiver was appointed November 24, 1924, and among the claims filed asking a preference were those of the state of Iowa and of Polk County, Iowa.

The appellant-interveners are corporate sureties on the depositary bonds covering the funds of these two public bodies. The facts and issues are as follows: The United State Bank was a 'banking corporation duly organized…