Leach v. Arthur Savings Bank

On the 23d day of April, 1924, Leach, as superintendent of banking, was appointed receiver of. the Arthur Savings Bank, of Arthur, Iowa. On that date he qualified, and assumed his office as such receiver, and proceeded to liquidate the assets of said bank. On the 5th day of August, 1924, such receiver filed his petition, making all stockholders parties defendant, alleging the insolvency of the bank and the insufficiency of the assets to pay the claims, and asked that he have judgment against each of the named stockholders (some 26 in number) for an amount equal to 100 per cent of each share…