Austin v. Wasaff

This suit was brought by Sam K. Wasaff and M. T. Lyman against Chas. O. Austin, commissioner of banking of the state of Texas. It was alleged that about the 19th day of January, 1924, J. L. Chapman, who was then commissioner of banking, declared the First State Bank of Eastland, Tex., insolvent, and in his official capacity took charge of same; that, at the time the commissioner took charge of the bank, Peter G. Theous had a general, noninterest-bearing deposit amounting to $1,800.56, which was a checking account, unsecured and noninterest-bearing, and therefore secured by the depositors'…