Pedersen v. Logan Square State & Savings Bank

Mr. Presiding Justice Friend

delivered the opinion of the court.

A representative suit in equity was filed by creditors to enforce the constitutional and statutory liability of the stockholders of the defunct Logan Square State & Savings Bank. As owners of three shares of the capital stock of the bank, John B. and Buth Notz were made defendants and personally served with summons on Sunday, September 17, 1939. Neither of them having appeared or answered, a decree, in favor of Logan L. Mullins, receiver, for the benefit of all the creditors of the bank, was entered against them November 27, 1939,…