Fidelity Insurance Co. v. German Savings Bank
Supreme Court of Iowa
Appeal from Polk District Court. — Hon. Hugh Brennan, Judge. Action in equity, originally brought by plaintiff and others, claiming to be depositors in the defendant bank, for the appointment of a receiver on the ground that the bank had not sufficient funds to pay its depositors, and to recover judgment against the bank for the amount of plaintiffs’ respective deposits, and for an accounting, etc.' Application was made for a temporary receiver, but was refused.
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Appeal from Polk District Court. — Hon. Hugh Brennan, Judge. Action in equity, originally brought by plaintiff and others, claiming to be depositors in the defendant bank, for the appointment of a receiver on the ground that the bank had not sufficient funds to pay its depositors, and to recover judgment against the bank for the amount of plaintiffs’ respective deposits, and for an accounting, etc.' Application was made for a temporary receiver, but was refused. After-wards, in behalf of the insurance company, the action was continued as an action to recover a deposit of $5,000, which deposit…
1Opinion of the CourtMcClain, J.
The facts essential to be considered in determining, whether the lower court reached a proper conclusion in this case are as follows: In 1897 the plaintiff had on deposit in a bank of the same name as this defendant, and to which this defendant became successor, the sum of $8,244. On January 21st of that year said bank was placed in the hands of a receiver under allegations that it was insolvent. Subsequently the bank was reorganized by the incorporation of this defendant with a capital stock of *593$100,000, its predecessor having had a capital of only $50,-000. Of this capital stock of the…
2Cases cited25 opinions
- Central Transportation Co. v. Pullman's Palace Car Co.Supreme Court of the United States · 1891
- National Bank v. MatthewsSupreme Court of the United States · 1879
- Hitchcock v. GalvestonSupreme Court of the United States · 1878
- California Bank v. KennedySupreme Court of the United States · 1897
- Whitney Arms Co. v. . BarlowNew York Court of Appeals · 1875
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3Cited by1 opinion
- Vermont Farm Machinery Co. v. De Sota Co-operative Creamery Co.Supreme Court of Iowa · 1909