Hood v. Commonwealth Trust & Savings Bank

The Commonwealth Trust and Savings Bank of Chicago was closed by the Auditor Juné 22, 1932. The same day, plaintiff Joseph Weiss filed a representative action in the superior court of Cook county against eighty-eight persons named as stockholders of the bank to enforce their superadded liability as stockholders. A month later, Carl S. Hood and A. M. Alderman instituted a similar action but did not name any of the stockholders. Later, the two cases were consolidated and an amended and supplemental complaint was filed and new parties added. Answers were filed on behalf of part of the…