Hotel Wausau Co. v. Banking Commission

The facts in this case are not in dispute. The Anchor State Bank of West Milwaukee, whose deposits were insured by FDIC, was taken possession of by the Banking Commission as a delinquent bank on June 4, 1935. The commission proceeded to liquidate the bank. At the time of its closing Hotel Wausau had on deposit the sum of $10,000, Flotéis, Inc., the sum of $5,169, and Auto- Acceptance Corporation the'sum of $7,986.69. Each filed claim with the commission and FDIC paid to each the amount of its insured deposit. This left balances of $5,000 in favor of Flotel Wausau Company, $169 in favor of…