Rockwood v. Foshay Trust & Savings Bank

- Holt, Justice.

Defendant appeals from an order sustaining a demurrer to the answer alleging certain set-offs or counterclaims, and directing judgment for xolaintiff.’

For brevity plaintiff will hereinafter be referred to as the company and the defendant as the bank. The company, a Delaware corporation, some time previous to November 1, 1929, owned 470 and a fraction of shares of the capital stock of the bank, 470 shares of which it had pledged to one Warner to secure a loan of $500,000. The hank was organized under the laws of this state, having an authorized capital stock of $200,000,…