105 Iowa 734 | Iowa | 1898
— The facts in the case are so complicated that we find it difficult to make a succinct statement. Only those questions which arise in the case of Findley, receiver, against the live-stock company, et al., defendants, and Richards, executor, appellant, are argued by appellant, and the other cases will be referred to only in so far as they are material to the issues presented.
1. For many years prior to the institution of this litigation, the Osceola Bank was a corporation doing a banking business in Clarke county, Iowa. George H. Cowles was vice president and manager, and C. W. Cowles, until shortly before the failure of the bank was one of its largest stockholders. On' the twenty-second day of November, 1888, the bank failed and was placed in the hands of a receiver. Prior to that time it had been a depository of county funds, and George H. and C. W. Cowles were sureties on the bond given by the bank to the county. A few days before the failure, G. H. Cowles deposited with the treasurer of the county about ten thousand dollars in bills receivable, as additional security to the county. In January of the year 1889 the county treasurer brought suit on the bond given by the bank to recover the funds on deposit at the time of the failure of the bank. At the trial in the district court it was adjudged that the county had no right to the collateral notes which