State ex rel. Smith v. Bone

The opinion of the court was delivered by

Dawson, J.:

This proceeding chronicles another chapter of litigation concerning the bank guaranty law and presents a question ■concerning the proper method of distributing its fragmentary assets among its many creditors, in view of the admitted and familiar fact that the bank depositors’ guaranty fund is insolvent, and the methods devised by the statute for the rehabilitation of the fund have virtually ceased to function.

The case presented takes the form of mandamus, but in effect it ■calls for the distribution of a trust fund. The state’s application…