Logemeyer v. Fulton State Bank

Appellee bank was closed by the auditor of public accounts on September 24, 1932 and reopened on November 19,1932. In order for it to reopen, the capital stock was reduced from $75,000 to $50,000, other adjustments were made in the capital structure, and 1186 depositors signed instruments identical except as to the amount of the deposits, the date and names and delivered the same to a committee known as “Citizens Committee for Reorganization of Fulton State Bank,” who in turn delivered them to the representative of the State Auditor then in charge of the affairs of the bank, who, upon…