Farmers State Bank v. Callahan

The opinion of the court was delivered by

Dawson, J.:

This was an action to recover on a stockholder’s liability consequent upon the insolvency of a bank.

The defendant was the nominal title holder of the bank stock because of his being the undischarged administrator of his deceased wife’s estate, and because he had not gone through the formality of *639causing the stock which had been owned by his wife to be transferred on the books of the bank to her heirs, who were the defendant himself and his three minor children.

Chronologically the facts were these:

On October 20,1918, Ora J. Callahan died…