Rose v. Morrow

This suit was brought to enforce the statutory liability of stockholders of the People’s (State) Bank of Spring-field, under chapter 54 of the Acts of 1909. The complainant sued on behalf of himself and all other depositors, alleging hot only insolvency, but an indebtedness to depositors in an aggregate amount in excess of all realizable assets, including the full amount of the double liability of the entire outstanding capital stock. The receiver was first joined as a complainant, but on the bearing bis name was withdrawn. Demurrers, in a common form, interposed on bebalf of all the…