Harp Building & Loan Ass'n v. Sheehan
Harp Building & Loan Ass'n v. Sheehan
Opinion of the Court
Opinion by
The plaintiff’s action was brought on the defendant’s bond as treasurer of the plaintiff company. The default alleged was that during his incumbency as treasurer the funds of the association were deposited by him in the Continental Title & Trust Company ; that the Trust Company allowed to the association credits of interest from time to time on the deposits of the association amounting in the aggregate to $838.61, as specifically set forth in the statement of claim, and that the treasurer had failed to account for and pay over any part of
The averment as to the action of the auditors is not responsive to the plaintiff’s demand. It is not suggested that the auditors had knowledge of the credit of interest on the books of the bank, nor, if they had such knowledge, that the treasurer charged the association with that amount as compensation or claimed it from the association as such. The affidavit contains no information from which it could be inferred that officers of the association having authority so to do had approved the claim now set up.
The averment as to the agreement for compensation is clearly insufficient. The time when, and the persons with whom, the alleged agreement was made are not stated, nor are we advised whether the agreement was oral or in writing, a resolution of the association accepted by the deponent, or the verbal promise of one of its officers. If we assume that such an agreement would be binding on the plaintiff, the
Nor can the averment that part of the credit for interest was derived from private funds of the defendant avail him as a defense. He admits that his private funds were mingled with those of .the association in the account referred to, but he fails to state what amount of private funds he. had, or what portion of interest credited to the association was received from such funds. Having exclusive knowledge on that point he should have set forth in his affidavit what amount of interest was derived from funds of the association and what amount from his own funds. The affidavit is wholly insufficient to set up a valid defense.
The judgment is affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.