Atherton v. Anderson

SIMONS, Circuit Judge.

For.losses sustained by a closed national bank in consequence of acts, ultra vires, and excessive loans, a decree was entered awarding the hank’s receiver damages against its officers and nonofficer directors. The latter were assessed varying sums aggregating approximately $4,000,000, and they alone have appealed.

The suit was in equity by appellee’s predecessor as receiver appointed by the Comptroller of the Currency under the National Banking Act. The bill counted both upon breach of statutory duty and upon common-law negligence. The cause was referred to a master, who…