Clarke v. Ingram

During the fall of 1892, the Bank of Amelicus became financially embarrassed. At the close of the year it was heavily involved, and its condition continued to grow worse until finally, on January 20, 1893, at a meeting of its board of directors, “ it was deemed advisable to close the doors of the bank,” and accordingly a resolution was passed directing that its operations be immediately suspended. On the same day, Cooper, Gatewood & Co. and other creditors filed in the superior court of Sumter county an equitable petition, in behalf of themselves and all creditors who might subsequently…