Fredericks v. Hammons

— This is an action to enforce a stockholder’s double liability. The Prescott State Bank, an insolvent, on November 25th, 1925, was taken pos session of by A. T. Hammons, state superintendent of banks. ' It was incorporated in 1916 with a capital stock of $100,000, divided into 1,000 shares of the par value of $100 each, all issued and outstanding. The defendant, B. N. Fredericks, at the time the bank superintendent took over the bank for liquidation, was the owner of 289 shares of such stock. In the insolvency proceeding, upon the petition of the superintendent of banks, on January 13th,…