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IOWA-DES MOINES NAT. BANK & TRUST CO. v. LOWDEN

No. 10343.

84 F.2d 856 (1936)

IOWA-DES MOINES NAT. BANK & TRUST CO. v. LOWDEN et al.

Circuit Court of Appeals, Eighth Circuit.

July 27, 1936.

Attorney(s) appearing for the Case

Garfield E. Breese, of Mason City, Iowa (Breese & Cornwell, of Mason City, Iowa, on the brief), for appellant.

A. B. Howland, of Des Moines, Iowa (J. G. Gamble, of Des Moines, Iowa, and Marcus L. Bell, W. F. Dickinson, and Daniel Taylor, all of Chicago, Ill., on the brief), for appellees.

Before GARDNER, SANBORN, and WOODROUGH, Circuit Judges.

SANBORN, Circuit Judge.

On June 19, 1933, and for several years prior thereto, the Iowa-Des Moines National Bank & Trust Company owned and held as investments $50,000 face value of the bonds of the Chicago, Rock Island & Pacific Railway Company, $25,000 face value of which were first and refunding gold bonds payable to bearer, due April 1, 1934, and $25,000 face value of which were 4½ per cent. secured series A bonds due September 1, 1952. The bank had...

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