Nelson v. Burrows

This action is brought by the plaintiffs, stockholders of the Atlantic National Bank of New York, in their own behalf and of all other stockholders, against the directors of the bank. The bank was organized under the. act of Congress known as the National Bank Act. In 1878 the bank became insolvent and suspended payment. The comptroller of the currency interposed, and a receiver was by him appointed, who entered upon the discharge of his duties as such, and the bank has ceased to exercise any corporate powers.

The liabilities of the bank far exceeded its assets. The comptroller of the…