Ball v. Gibbs

SANBORN, Circuit Judge.

The question which this Court is called upon to determine is whether this action, which was brought by creditors of the St. Louis Joint' Stock Land Bank (now in process of liquidation) to enforce the double liability imposed by § 812, Title 12 U.S.C.A., upon the stockholders of the Bank, is barred as to William D. Gibbs by virtue of Sec. 860 and Sec. 862, Revised Statutes of Missouri, 1929, Mo.St.Ann. §§ 860, 862, pp. 1136, 1143, which prescribe a five-year limitation for the commencement of “an action upon a liability created by a statute other than a penalty or…