Heymann v. O'Connell

January 12, 1934, the auditor of public accounts appointed William L. O’Connell receiver of the West Side Trust & Savings Bank, pursuant to the provisions of sec. 11 of an act to revise the law with relation to Banks and Banking (ch. 16a, sec. 11, Illinois State Bar Stats. 1935), and, thereafter, on January 15, 1934, he filed a bill in the superior court setting forth in substance that the bank’s capital stock had become impaired, that its business was being conducted in an unsafe manner, that a receiver had been appointed by him, and invoking the court’s jurisdiction for certain specified…