Cowden v. Williams

This is an action against certain stockholders of the former Central Bank of Phoenix, hereinafter called the hank, based on section 11, article 14, of the Constitution of Arizona, and section 23 of chapter 31, Session Laws of 1922, commonly known as the state Banking Code, to recover the double liability referred to in those sections. Originally there were some eighteen separate suits filed, one against each stockholder, but by consent of counsel they were consolidated in the lower court, and are heard here as one appeal.

All but one of the facts necessary for a determination of this appeal…