Smith v. Olson

Action by plaintiff, as superintendent of banks of the state of South Dakota in charge of the closed Commercial & Savings Bank of Sioux Falls, to recover from defendant the full amount of his liability as a stockholder in said bank. Verdict and judgment were for the plaintiff, from which judgment and an order -denying his motion for new trial defendant appeals.

Appellant contended that, although he was a stockholder of the closed bank according to its books and records, he was nodi such in fact, claiming that his stock subscription was obtained by false and fraudulent representations and…