Bennett v. Thorne
Washington Supreme Court
Appeal from an order of the superior court for What-com county, Neterer, J., entered Feb. 9, 1903, levying an assessment against the stockholders of an insolvent bank, after overruling their demurrers, and a hearing upon the merits upon the petition of the receiver, filed in the receivership action.
1Opinion of the Court
Fullerton, C. J. —
This is a proceeding to assess stockholders of an insolvent bank upon their superadded liability to creditors, as imposed by the state constitution, instituted by a petition of the receiver filed in the receivership action.
The Puget Sound Loan, Trust & Banking Company was incorporated under the laws of this state in 1890 to do a banking business at Whatcom, and was engaged in such business in 1895, at which time it became insolvent. In November, 1895, Charles W. Roberts commenced an action against the bank, in the superior court for Whatcom county, for the purpose of having…
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