State v. Williams

BROWN, Justice.

The. bill is filed by the State against appellees as Superintendent of Banks, and liquidating agent administering the assets of the defunct Woodlawn Savings Bank, to impress the general estate of said Bank,, with the “prerogative right of preference” as against other depositors and creditors. The indebtedness for which the bill seeks preference in payment, was created by the deposit of the proceeds of bonds issued by the City of Birmingham, a municipal corporation, on its general credit, i'for the purpose - of providing appropriate and suitable grounds, buildings, and equipment…