67 Mo. 395 | Mo. | 1878
The defendant, Solomon C. Powell, being school trustee of a certain township in Macon county, and, as such, treasurer of the school funds of'said township, prior to the 5th day of September, 1876, deposited such school funds in the banking house of B. N. Tracy & Son, at Macon, in said county, to his credit as such trustee and treasurer. On said 5th day of September, said bank suspended business, 'and by reason of its failure and.insolvency, said funds were lost. At the time said deposits were made, and up to the time of its suspension, said bank was reputed and believed by the business men in said county and elsewhere, to be safe and solvent, and a secure place of deposit, and the defendant was guilty of no want of care or prudence in failing to ascertain the true condition of said bank. The question for determination is, whether, on the facts stated, the defendant, Powell, and the sureties on his bond, are liable for the sum so lost
Aeeirmed.