United States National Bank v. Stiller

The appellants were stockholders in the Pacific Cotton and Finance Corporation, a corporation organized under the laws of this state. This action was instituted against them upon their liability as stockholders in said company. Three causes of action were contained in the complaint, but as no point is raised as to the correctness of the judgment based upon the third cause of action, it will be necessary for us to devote attention only to the first and second causes of action.

The first cause of action was based upon an indebtedness originally created by a loan of $22,625 by the plaintiff to…