Fallgatter v. Citizens' Nat. Bank of Worthington

JOHN B. SANBORN, District Judge.

The plaintiff was, from early in the year 1923 until June 14, 1924, a director of the Citizens’ National Bank of Worthington, Minn. During that time he was the owner of 50 shares of its capital stoek, of the par value of $5,000. The entire capital stoek consisted of 250 shares, of the par value of $100 each. Prior to June 14,1924, the capital of the bank had become impaired, it had. violated its charter and the banking laws of the United States, and on that .day it was, by order of the Comptroller of the Currency, closed, and thereupon suspended business. On…