Veigel ex rel. Ruthton State Bank v. Dakota Trust & Savings Bank

As security for a loan, Dakota Trust & Savings Bank took 63 shares of'the capital stock of Ruthton State Bank, of Ruthton, Minn., and, default being made in payment of the loan, the security was foreclosed on or about April 22, 1922, and the bank became the owner of the stock, which was bid in in the name *239of its cashier. Soon thereafter a 50 per cent assessment was levied on the stock, which the bank paid. It 'does not appear that it ever received any dividend on the stock. On September 25, 1923, it purchased 14 additional shares of the stock of the Ruthton bank. This purchase was. made…