Pugh v. Polk Country

There is little dispute about the facts. The defendant Valley National Bank was duly organized under the laws of the United States and the Valley Savings Bank was duly organized under the laws of the state of Iowa — separate institutions occupying the same banking building in the city of Des Moines, Iowa, and having practically the same officers and stockholders. For convenience, we will refer to said banks as the National Bank and the Savings Bank.

In loyal obedience to executive proclamation, both of the state and nation, under date of March 4, 1933, these banks, with all other banks, closed…