Austin v. Marsico

On or before the 15th day of July, 1921, the Denison Bank .& Trust Company was doing a banking business under the laws of the state of Texas, on which last-named date it became insolvent, and on which date, as well as before that time, N. Marsico appeared upon the books of the bank to be the owner and holder of 15 shares of its capital stock, having apparently become so by reason of a written transfer from R. T. Arthur and the procurement by Marsico from the bank of the cancellation of the Arthur stock and the issuance to him of new stock in lieu thereof, all within one year prior to the…