Gresham v. Island City Savings Bank

WILLIAMS, Associate Justice.

Van Sickle and Corbin were stockholders in the Island City Savings Bank at the time of its suspension of business in January, 1885. After the failure of the bank a proposition was made to a meeting of its stockholders by S. Heidenheimer and others, which was, in substance, that if the owners of all of the stock of the bank would transfer and deliver to the signers of the communication all of the shares, and if the creditors of the bank would consent to accept 74 peícent of the amounts due them in full settlement, such signers would provide the sum of $100,000 for…