Commercial National Bank v. Weinhard
Supreme Court of the United States
ERROR TO THE SUPREME COURT OP THE STATE OP OREGON. These actions were brought in the Circuit Court of the State of Oregon for Multnomah County upon separaté demands to recover the value of stock severally held by Weinhard and Williams in the Commercial National Bank of Portland, Oregon; Williams owning sixty shares of the par value of $6000, and Weinhard one hundred shares of the par value of $10,000. By stipulation the cases were heard together in the Circuit Court; a jury…
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ERROR TO THE SUPREME COURT OP THE STATE OP OREGON. These actions were brought in the Circuit Court of the State of Oregon for Multnomah County upon separaté demands to recover the value of stock severally held by Weinhard and Williams in the Commercial National Bank of Portland, Oregon; Williams owning sixty shares of the par value of $6000, and Weinhard one hundred shares of the par value of $10,000. By stipulation the cases were heard together in the Circuit Court; a jury being waived and a trial had to the court. The cases were considered together as one appeal in the Supreme Court of…
1Opinion of the CourtJustice Day
This case requires the construction of section 5205 of the Revised Statutes of the United States as amended: 3 Comp. Stat. 3495. The section is as follows:
• “Every association which shall have failed to pay up its capital stock, as required by law, and every association whose capital stock shall have become, impaired by losses or otherwise, shall, within three months after receiving notiee thereof from the Comptroller of the Currency, pay the deficiency in the capital stock, by assessment upon the shareholders pro rata for the amount of capital stock held by each; and the Treasurer of the…
2Cases cited2 opinions
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