People ex rel. Nelson v. Ottawa Banking & Trust Co.

Mr. Presiding Justice Dove

delivered the opinion of the court.

The Ottawa Banking and Trust Company of Ottawa, Illinois suspended business on September 28, 1931. Subsequently this proceeding was instituted in the circuit court of La Salle county to liquidate said institution and on January 21, 1932 a decree was rendered finding that the auditor of public accounts had taken possession of all of the assets of the bank, that an examination of its assets disclosed it to be insolvent and that Joseph H. Standart had been appointed, by the auditor, the receiver of said institution. The decree…