Candor v. Mercer County State Bank

This is a suit in equity to enforce the liability of a number of stockholders in an insolvent bank under section 6, Cahill’s St. ch. 16a, H 6, entitled “Banks.” A decree was rendered in favor of the complainants and the defeated stockholders have brought the cause to this court by appeal.

On and prior to Saturday, December 5, 1925, the Mercer County State Bank was a going, but insolvent, concern. After the close of business on that day, the men who constituted its board of directors entered into negotiations with the.Aledo State Bank. As a result thereof a contract was signed whereby the Aledo…