Corp. Commission v. Merchants Bank

Stacy, C. J.,

after stating the case: The principal question presented is whether the stockholders of the Merchants Bank and Trust Company are entitled to have the tort liability of the officers and directors of said corporation ascertained, and collection enforced as far as possible, before determining what assessment, if any, should be made on the shares of stock issued by said bank and held by appellants at the time of its insolvency and failure. It is alleged by the defendants that, if this liability were reduced to judgment and collection enforced, the assets of the bank would be amply…