Mechanics' Institute v. Firth

Citations

• 5 Cal. Unrep. 721
• 49 P. 214
• 1897 Cal. LEXIS 987

Syllabus

<p>Treasurer’s Bond.—In an Emergency to Meet a Pay-roll of <61,878, a corporation’s treasurer obtained $600 of its funds from one of its officers, and paid it to the secretary, the disbursing agent, receiving his receipt therefor, and its president paid $600 of his own money direct to the same agent. Subsequently the board of directors, upon the account of the pay-roll, ordered warrants drawn for a check of $600 to repay the president, and one of $1,278 for cash, which warrants were presented by the secretary, and were honored by the treasurer, as he was in duty bound to do. In the books the treasurer charged himself with the $600 received from the officer, and credited himself with the amount disbursed on the pay-roll. He did not charge himself with the money received from the president, which did not come into his hands, but credited himself with the cheek of $600, to repay the president, and the check of $1,278. Held, not to show any shortage on the part of the treasurer.</p>