Andrew v. Breon

For many years, the Hedrick State Bank, an Iowa banking corporation with a capital of $25,000, conducted business at Hedrick. In November,. 1921, its charter expired. An application, in due time, was made by the stockholders of the corporation to the state banking superintendent for the renewal thereof. Before granting the request, the state superintendent, through a bank examiner, investigated the affairs of that financial concern. Through this examination, it was learned that, certain of the bank’s assets were of doubtful character. So the state superintendent of banking questioned the…