Page:Federal Reporter, 1st Series, Volume 4.djvu/65

 LINSSET V. LAM6EBT BUILDIKO St LOAK A.SS'lI. 51 �Bliown until the money was drawn out of bank by the vice- president and secretary, both of whom then had knowledge of Casey's insolvency, and that ratification was then too late. But I cannot adopt this view. In opening the account at the Bank of Pittsburgh and making the deposit for the benefit of the association, Casey merely performed a duty he owed the asso- ciation. He should, from the first, have kept the moneys of the association separate and apart from his own. The Bank of Pittsburgh was a safe and proper place of deposit for the money of the association. Had he died immediately after the deposit it would hardly be pretended that the fand so deposited would have passed to his personal representative. �I affirm the defendant'e third point, viz. : "that, under ail the evidence in the case, the verdict should be for the defend- ant." �Under the undisputed facts, and for the reasons alrcady Btated, I refuse the plaintiff's several points. ���The jury having found a verdict for the defendant, the plaintiff moved the court for a new trial, which after argu- ment was refused, the court filing the foUowing opinion, Octo- ber 8, 1880 : �ActtESON, D. J. I adhere to the opinion I entertained at the trial, that when W. P. Casey deposited the $6,000 in the Bank of Pittsburgh to his credit, as treasurer of the Lambert Building & Loan Association, taking the certificate of deposit payable to his order as such treasurer, the money became eo instanti the property of the defendant corporation. Confirm- atory of this view is the case of Stapleton v. Stapleton, 14 Simons, (Eng. Ch. K.) 186. It must be remembered that Casey was the mere custodian of the moneys of the associa- tion, and at ail times should bave kept the trust fund distin- guishable from his own moneys and separate therefrom. Hence, when he made the deposit in the Bank of Pittsburgh, he merely restored to the trust fund its ear-mark, which it had temporarily lost by reason of his unauthorized act in mixing the trust moneys with his private f unds. To use the language ����