Denny, Banking Commissioner v. Thompson

Opinion op the Court by

Commissioner Stanley—

Reversing in part on direct appeal, and affirming on cross-appeal.

This appeal presents two major questions: (1) Is the commonwealth and its political subdivisions to be accorded a preference in the distribution of assets of an insolvent bank?-and (2) when is a deposit made after the bank becáme-insolvent to be returned to the depositor? Disposition must also be made of some subsidiary issues.

The case arises from the placing of the Hickman' Bank & Trust Company in the hands of the banking commissioner for liquidation because of its insolvency on…