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FIDELITY & DEPOSIT CO. v. PEOPLES EXCHANGE BANK

270 Wis. 415 (1955)

FIDELITY & DEPOSIT COMPANY OF MARYLAND, Plaintiff, vs. PEOPLES EXCHANGE BANK OF THORP, Defendant and Appellant: STATE BANK OF ELKHORN, Interpleaded Defendant and Respondent.

Supreme Court of Wisconsin.

June 28, 1955.

Attorney(s) appearing for the Case

For the appellant there was a brief by Willis E. Donley, and oral argument by Mr. Donley and Mr. R. F. Muza, both of Menomonie.

For the respondent there was a brief and oral argument by H. G. Haight of Neillsville.

MARTIN, J.

Appellant relies on Evenson v. Waukesha Nat. Bank (1926), 189 Wis. 170, 207 N. W. 415. In that case two certificates of deposit issued to Evenson were stolen, indorsed by the thief and deposited to his account in the defendant Waukesha National Bank. Plaintiff, the true owner of the certificates, brought action against the defendant bank, which interpleaded the two issuing banks. It was held that as to the plaintiff, defendant had no defense since...

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