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Banks And Banking-National Banks Subject To State Statute Providing Reward For Finders Of Lost Goods

Michigan Law Review

Plaintiff found $105,000 hidden in a roadside junk heap. The money had been stolen from defendant national bank in an early morning hold-up, and cached by the robbers in the rubbish pile, With the police, plaintiff returned the money to the bank. Plaintiff then sued the bank for a ten per cent reward provided by an Iowa statute for the return of "lost goods." The Supreme Court of Iowa reversed a decision that the statute did not apply to stolen money. In a rehearing, defendant put in an amended plea that the statute could not impose any liability on national …