Lawrence v. Graham

The deceased prior to his death, March 29, 1932, was the owner of 255 shares of stock (par value $10) of the American Home Security Bank, a Michigan banking corporation, located in the city of Grand Rapids. The bank at that time was a going institution, and continued as such until closed by proclamation of the governor of the State, on February 14, 1933. The bank remained closed until February 21, 1933, when it was permitted, under gubernatorial proclamation, to reopen and operate on a restricted basis.

On March 23,. 1933, a conservator was appointed for the bank, and it proceeded to operate…