Pate v. Bank of Newton
Mississippi Supreme Court
Appeal from the chancery court of Hinds county. PIon. O. B. Taylor, Chancellor. . Suit by the Bank of Newton and others against W. T. Pate and others. Prom an order overruling a demurrer to the bill of complaint, defendants appeal. The facts are fully stated in the opinion of the court.
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Appeal from the chancery court of Hinds county. PIon. O. B. Taylor, Chancellor. . Suit by the Bank of Newton and others against W. T. Pate and others. Prom an order overruling a demurrer to the bill of complaint, defendants appeal. The facts are fully stated in the opinion of the court. While insisting upon all of the grounds assigned under the demurrer, as associate counsel will discuss the other grounds, we shall confine ourselves in this brief to but one of the. causes of demurrer, to-wit: That this cause was prematurely brought. The court will see from the reading of the bill that the…
1Opinion of the CourtEthridge, J.
The.Bank of Newton was incorporated under the laws of the state of Mississippi in 1898, with a capital stock of fifty thousand dollars. In 1910 it procured a charter amendment under the laws of the state, increasing its capital stock to seventy-five thousand dollars. In 1914 the state of Mississippi passed an act regulating and guaranteeing the deposits of the banks to depositors whose claims were secured, and in the said act (chapter 124, Laws of 1914) it was provided in section 59 that the stockholders of banks shall be liable, in addition to their stock, to the amount of the par value of…
2Cases cited3 opinions
- Jefferson Branch Bank v. SkellySupreme Court of the United States · 1862
- Sherman v. SmithSupreme Court of the United States · 1862
- Bank of Oxford v. LoveMississippi Supreme Court · 1916
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- Tatum v. WheelessMississippi Supreme Court · 1938
- Commissioner of Banks v. Prudential Trust Co.Massachusetts Supreme Judicial Court · 1922
- Cowden v. WilliamsArizona Supreme Court · 1927
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