Comstock v. Morgan Park Trust & Savings Bank

The circuit court of Cook county entered a decree in a creditors’ suit against a number of stockholders in the Morgan Park Trust and Savings Bank, an Illinois banking corporation. The suit was a representative proceeding in equity to enforce the stockholders’ liability in favor of creditors of the defunct corporation. Appellants are a few of the stockholders against whom the decree was entered. They have raised numerous questions. Among them are, that the suit was premature because no decree had been entered by any court declaring the corporation insolvent; that the suit was brought for…