139 Iowa 58 | Iowa | 1908
Plaintiff was a school treasurer, and as such made deposits in a private bank, of which the deceased, McCutcheon, was owner, from time to time as occasion arose. These were deposited in his name as treasurer of the school district, and against these deposits he drew his checks from time to time to pay bills against the district. The deposit was a general one, and the funds were mingled with other assets of the bank. The last deposit was made October 19, 1903, and McCutcheon died January 14, 1904. Between these two dates other persons deposited with the bank something like $130,000. This amount, save about $1,200 found in the bank when McCutcheon died, was all paid out or dissipated during the interim. Upon the death of McCutcheon, it was found that his bank had been insolvent for a long time. He owed at that time $204,000, and his assets aggregated about $100,000. Preferred claims to the amount of over $30,000 were filed in the estate, against the $1,200 in cash and other assets. The trial court found that plaintiff’s deposits had all been dissipated long before McCutcheon’s
The decree is right, and it is affirmed.