American National Bank v. Holsen

The circuit court of Wabash county entered a decree on a bill filed by the American National Bank of Mt. Carmel and the National Service Bureau to enforce the liability of the stockholders of the First State Bank of Mt. Carmel for the benefit of the creditors of that bank, requiring the defendants to pay to a receiver appointed by the decree the amounts found due by them by reason of their ownership of stock in the First State Bank. Fred H. Holsen, Jr., F. J. Dorney, Logan Litherland, James A. Holsen and Louella Manley, five of the defendants, appealed to the Appellate Court for the Fourth…