Rankin v. City of Big Rapids
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Western District of Michigan. This is a bill filed by the receiver of an insolvent national bank to collect an assessment levied by the Comptroller of the Currency upon a stockholder of the bank by reason of the extraordinary liability imposed by law, and the collection is sought to be made from a legatee who has received assets from the stockholder sufficient to satisfy the assessment.
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Appeal from the Circuit Court of the United States for the Western District of Michigan. This is a bill filed by the receiver of an insolvent national bank to collect an assessment levied by the Comptroller of the Currency upon a stockholder of the bank by reason of the extraordinary liability imposed by law, and the collection is sought to be made from a legatee who has received assets from the stockholder sufficient to satisfy the assessment. The circumstances out of which the controversy arose are these: Fitch Phelps was a holder of 11% shares of the stock of the National Bank of Big…
1Opinion of the CourtSeverens, Circuit Judge
The question which we shall first consider is whether the defendants and appellees are concluded by the decree of the probate court upon the claim for the former assessment in respect to the ownership of the shares of stock by Mrs. Phelps, and, in consequence, by the executor of her estate; for, if they are, it precludes all inquiry into the facts bearing upon that question. And we think they are so precluded. The present receiver is the successor in place of the receiver who was the complainant in the former proceeding, and is in privity with him. McNulta v. Lochridge, 141 U. S. 327, 12 Sup.…
2Cases cited29 opinions
- Cromwell v. County of SacSupreme Court of the United States · 1877
- McNulta v. LochridgeSupreme Court of the United States · 1891
- Security Trust Co. v. Black River National BankSupreme Court of the United States · 1902
- Brown v. ForscheMichigan Supreme Court · 1880
- Hantzch v. MassoltSupreme Court of Minnesota · 1895
24 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Rankin v. MillerDistrict Court, D. Delaware · 1913
- Schoonmaker Conners Co. v. Lambert Transp. Co.Court of Appeals for the Second Circuit · 1920
- Eddy v. EddyCourt of Appeals for the Sixth Circuit · 1909
- State ex rel. Buchanan County v. PattonSupreme Court of Missouri · 1917
- Schutz v. ReadMichigan Supreme Court · 1938
6 more not listed; retrieve them via the Exa API.