Sneve v. Hagen

Respondent, Sneve, was a deposit creditor of the Citizens’ State Bank of Irene, S. D. The appellants, Hagen and Peterson, were stockholders in the bank, Hagen in the sum of sixty-six shares and Peterson in the sum of sixteen shares of the capital stock, par value of $100 per share. The respondent’s deposits were in the form of a checking and deposit account for some $133, the balance being in certificates of deposit dated from April 14, 1926, to August 18, 1926, bearing interest at 5 per centum per annum, aggregating some $1,200. The bank suspended business and was taken in charge by the…