Hill v. Fidelity & Deposit Co. of Maryland

SIBLEY, District Judge.

Some of the stockholders of a failed state bank sue in their own names upon the bond of a former superintendent of banks to recover the value of their stock when the superintendent went into office, and the amount of the assessment made upon them, claiming that the failure was due to certain unlawful acts of the directors in managing the bank, known to but not cheeked by the superintendent. A demurrer challenges their right to sue.

The superintendent of banks is a state officer of large powers and duties, fixed by the banking laws of Georgia, quite similar to those of…