Assets Realization Co. v. Howard
New York Supreme Court
Action to charge the stockholders of a banking corporation with liability for the payment of its debts.
1Opinion of the CourtWheler, J.
This action is one in equity, brought to charge the defendants, as stockholders of the Metropolitan Bank of Buffalo, with liability for the debts of the bank.
The Metropolitan Bank was organized in 1891, under the Banking Law of the State of Hew York, and thereafter conducted a banking business in the city of Buffalo, and until the 10th day of August, 1901. It had a nominal capital of $200,000. For a period of a month prior to August- 10, 1901, there had been large withdrawals by depositors of casjh from the Metropolitan Bank. It had been compelled to borrow money from other banks in order to…
2Cases cited32 opinions
- Richmond v. IronsSupreme Court of the United States · 1887
- Bernheimer v. ConverseSupreme Court of the United States · 1907
- People v. . BallardNew York Court of Appeals · 1892
- Hayes v. WardNew York Court of Chancery · 1819
- Wyman v. WallaceSupreme Court of the United States · 1906
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