Garvy v. Wilder

EVANS, Circuit Judge.

Plaintiff relies chiefly on Casey v. Galli, 94 U.S. 673, 24 L.Ed. 168. He also asserts that a statutory bank stock liability is contractual in nature and that the Illinois statrtte provides (R.S. ’39, Chap. 74, Sec. 2) for accrual of interest at 5% on liquidation of accounts and that the declaration of an assessment’s due date is the equivalent of the settlement of accounts.

Appellees contend that the Federal statutory obligation for a national bank assessment does not draw interest; that no action may be maintained for interest where the principal has been satisfied by…