State ex rel. Stone v. Union Stock Yards State Bank
Supreme Court of Iowa
Appeal from Woodbury District Court. — Hon. Gr. W. Wakefield, Judge. The defendant bank became insolvent, and tbe present suit was instituted, under tbe provision of tbe law, Code, section 1572, to- wind up tbe bank and distribute tbe assets among the creditors. To that end, a receiver was duly appointed, who took possession of the property of the bank, and proceeded in the discharge of his duties.
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Appeal from Woodbury District Court. — Hon. Gr. W. Wakefield, Judge. The defendant bank became insolvent, and tbe present suit was instituted, under tbe provision of tbe law, Code, section 1572, to- wind up tbe bank and distribute tbe assets among the creditors. To that end, a receiver was duly appointed, who took possession of the property of the bank, and proceeded in the discharge of his duties. The receiver was appointed June 26, 1893, and in October, 1894, he made a report of his doings, and of the condition of the bank estate, showing an estimated deficit of ninety-nine thousand and…
1Opinion of the CourtGtkang-ek, J.
1
*5522 *551I. The question is first presented whether the court, in an ex parte proceeding, can make a valid assessment on the stockholders. Much depends on the effect to be given to the assessment when made. If it is to have .a conclusive effect, — that is, if it is to have the effect of an adjudication so as to preclude an inquiry thereafter into its correctness in any essential particular, — we think it cannot be done. But, if such an assessment is only intended for, and to have the effect of, an ascertainment by the court of probable conditions, with the right of a stockholder to take issue and…
2Cases cited5 opinions
- Wilson v. BookWashington Supreme Court · 1896
- Story v. . FurmanNew York Court of Appeals · 1862
- Watterson v. MastersonWashington Supreme Court · 1896
- Allen v. ClaytonSupreme Court of Iowa · 1884
- Lamar Ins. v. HildrethSupreme Court of Iowa · 1880
3Cited by20 opinions
- Bennett v. ThorneWashington Supreme Court · 1904
- Colton v. MayerCourt of Appeals of Maryland · 1900
- Andrew v. Farmers Trust & Savings BankSupreme Court of Iowa · 1927
- Broderick v. AdamsonNew York Supreme Court · 1933
- Elson v. WrightSupreme Court of Iowa · 1907
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