Austin v. Cochran

Only one question is presented

in this appeal; i. e.: Can a stockholder in an insolvent bank, which has been taken over by the state banking commissioner, set off the amount of his deposit in such bank against a 100 per cent, assessment made against him by said commissioner under the Constitution and laws of this state?

The agreed facts involved in our inquiry here are as follows: H.. T. Cochran owned 10 shares of stock, of the par value of $100 each, in the First State Bank of Belton, a banking corporation with a capital stock of $25,000, operating under the state Guaranty Fund Law. On January…