Federal Deposit Insurance v. Apfelbaum

After trial by the court without a jury the complaint was dismissed on the merits and plaintiff appeals. Whether this ruling was sound depends upon the interpretation and application of certain Federal statutes.

The action is by the receiver of an insolvent national banking corporation — The Fort Greene National Bank in New York — against two of its stockholders — James H. Hickey and Henry S. Chardavoyne — to enforce payment of their double liability to creditors. The statutory liability is created by Acts of Congress. (U. S. Code, tit. 12, §§ 63, 64, originally, U. S. Rev. Stat., § 5151,…