Investment & Securities Co. v. American Bank

This action was brought to establish a claim against the assets of an insolvent bank. Defendants’ motion for nonsuit at the conclusion of plaintiff’s evidence was granted. From the judgment dismissing the action, plaintiff has appealed.

The facts giving rise to the present controversy proceed from an ominous background: On January 23, 1929, a financial crisis faced the city of Spokane. The Exchange National Bank, one of the oldest and largest financial institutions in that community, had failed a few days before, and a run on the City National Bank of Spokane had begun. As a consequence, there…