Gordon v. Winneberger

Opinion by

Mr. Justice Linn,

This action of assumpsit was brought by the secretary of banking, in possession of the insolvent Susquehanna Title & Trust Company pursuant to the Banking Act of 1923, P. L. 809, to recover from defendant, a stockholder, an amount equal to 100% of the par value of capital stock held by him. By affidavit of defense raising questions of law, defendant denied liability on the ground that no statute obligated shareholders to contribute in excess of the par value of their shares, which, it is conceded, had been paid. The court below entered judgment for defendant (16 D.…