Shaw v. Strong

It appears from the petition in this case in the district court that M. Strong was a stockholder in the First State Bank, Wolfe City, Texas, a banking corporation duly incorporated under the banking laws of this State; that this bank failed on the 23rd day of December, 1927; that on the 30th day of December, 1927, the Banking Commissioner levied a 100 per cent assessment against all of the stockholders of such bank, including Strong; that thereafter the Commissioner, for a valuable consideration, transferred and assigned Strong’s stock liability to another; that such transfer and assignment…