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BANK OF ITALY NAT. T. & SAV. ASS'N v. FARMERS' & MERCHANTS' NAT. BK.

No. 6111.

44 F.2d 325 (1930)

BANK OF ITALY NAT. TRUST & SAVINGS ASS'N v. FARMERS' & MERCHANTS' NAT. BANK OF MERCED et al.

Circuit Court of Appeals, Ninth Circuit.

October 27, 1930.

Attorney(s) appearing for the Case

F. W. Henderson, of Merced, Cal., and Louis Ferrari and J. J. Posner, both of San Francisco, Cal., for appellant.

Hartley F. Peart, of San Francisco, Cal., and M. G. Gallaher and Gilbert H. Jertberg, both of Fresno, Cal., for appellees.

Before RUDKIN and WILBUR, Circuit Judges, and KERRIGAN, District Judge.

RUDKIN, Circuit Judge.

There is little controversy over the facts in this case. One Hart was city treasurer of the city of Merced and president and manager of the Farmers' & Merchants' National Bank of Merced. The Merced Security Savings Bank applied to Hart, as treasurer, for a deposit of city funds to the amount of $25,000, and to secure the deposit, as required by a statute of the state, delivered to Hart negotiable bonds of the value of approximately $28,000...

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