95 Iowa 325 | Iowa | 1895
The plaintiff is a farmer, and resides on his farm in Grundy county, fourteen miles' from the city of Cedar Falls. On the twenty-second day of September, 1891, he went to the place of business of the defendant bank, and gave his check on the Bank of Beinbeck for one thousand and twenty-five dollars, and paid one hundred and seventy-five dollars in money in addition, making an aggregate sum of one thousand two hundred dollars, for which he received a promissory note for that sum, payable one year from date, with interest at seven per cent, per annum. The note was signed W. M. Fields & Bro. Afterwards, and while the said note was in his possession, and on the seventh day of July, 1892, he gave his wife a check for nine hundred dollars, which she took to said bank, and received therefor a promissory note for that amount, payable in one year, with interest at seven per cent., and signed by W. M. Fields &, Bro. On September twenty-second of the same year his wife, in the absence of the plaintiff, but by his direction, took the note for one thousand two' hundred dollars to the bank, and had the interest thereon computed, which amounted to eighty-four dollars, and paid sixteen dollars in money, delivered up the note, and took a new one for one thousand three hundred dollars, due in one year, with interest at seven per cent., and signed by W. M. Fields & Bro. These notes became due on the seventh day of July, 1893, and the twenty-second day of September in the same year. The bank closed its doors and suspended business on the sixteenth day of May, 1893. The partnership of W. M. Fields Sc Bro. failed at about the same time. The firm was composed of W. M. Fields and C. J. Fields, one being president and the other
It appears to us that further elaboration is unnecessary, more than to say that the evidence shows that the money of the plaintiff was not appropriated to the use of the bank. It did not at any time become part of its assets, and it ought to require more evidence than this record contains to put the plaintiff on an equality with creditors of the bank who hold just and valid claims against it. The decree of the district court is reversed.