Wadsworth v. Duncan

On August 25, 1893,. the Central Illinois Banking and Savings Association, a private bank owned by appellants and others, closed its doors, and a bill was filed by appellants and certain others, as complainants, for a dissolution of the partnership and the appointment of a receiver, making certain other partners defendants. This association was organized in 1867 as a joint stock company, with a capital of §100,000, divided into one thousand shares. The articles, provided for a board of directors, who were to elect their president and cashier and other officers and manage the business, which…