Peet v. Des Moines Savings Bank
Supreme Court of Iowa
Appeal from Winnebago District Court. — Joseph J. Clark, Judge. Action in equity for authority on behalf of the receiver to make a 100 per cent assessment against the stockholders of the Buffalo Center State Bank, proportionate to their holdings of the capital stock thereof, to pay creditor’s claims previously approved by the receiver herein. Decree entered dismissing petition, and taxing costs to F. D. Peet, receiver, who appeals.—
1Opinion of the CourtDe Grape, J.
1. Banks and Banking : insolvency and dissolution: unauthorized assessment. — The Buffalo Center State Bank was incorporated under the laws of the state of Iowa as a state bank in January, 1894, with a capital stock of $25,000, and was to continue for 20 years. In December, 18.99, its capital stock was increased to $50,000, which is owned in varying amounts by the several defendants. It ceased to do a banking business August 1, 1908. Defendant Gilbertson was its president from the date of its organization, and from January, 1905, defendant *1022Kelley was its vice-president. These two gentlemen…
2Cases cited4 opinions
- Richmond v. IronsSupreme Court of the United States · 1887
- Schrader v. Manufacturers' Nat. Bank of ChicagoSupreme Court of the United States · 1890
- State ex rel. Carroll v. Corning State Savings BankSupreme Court of Iowa · 1907
- Kiggins v. MundayWashington Supreme Court · 1898
3Cited by4 opinions
- Andrew v. DunnSupreme Court of Iowa · 1926
- Derscheid v. AndrewCourt of Appeals for the Eighth Circuit · 1929
- Sweet v. Security Savings BankSupreme Court of Iowa · 1925
- Andrew v. Farmers State BankSupreme Court of Iowa · 1933