Chapman v. Reese

J. L. Chapman, commissioner of banking for the state of Texas, in charge of the affairs of the Tyler County State Bank, insolvent, sued M. M. Reese, a stockholder in said bank, to recover the sum of $1,991.45, alleged to be a balance due on an assessment levied on the stock owned by Reese. Reese owned 40 shares of the stock of said bank at the time it ceased to do business and was taken in charge by the commissioner. The assessment was in the sum of $4,000. Reese, at the time the bank closed, had on deposit in said bank, subject to his check, $1,008.55. His wife had a checking account in said…