116 Neb. 825 | Neb. | 1928
The Octavia State Bank, of Octavia, Nebraska, was incorporated in 1901 and continued the transaction of a banking business until closed by the banking department of the state of Nebraska in September, 1921. The Loma State Bank kept a deposit with the Octavia bank from June, 1912, until the Octavia State Bank was closed. The account was opened by the deposit of $10,400 by the Loma bank, nearly the entire capital of the Loma bank. From time to time the Octavia bank discounted' notes with the Loma bank and charged the deposit of the Loma bank with these notes. When the Octavia bank was closed the deposit of the Loma bank amounted to $342.76, which was paid. The Loma bank now claims an additional deposit of $6,500 because the Octavia bank had sent the Loma bank five forged notes totalling this amount and had charged the
The district court did err, however, in allowing $2,275 interest, having calculated the interest on the deposit at 7 per cent, during the time the Octavia bank remained open. The agreed rate of interest on the deposit was 3 per cent., and 3 per cent, only should be allowed until the certificate
Affirmed as modified.