Bates v. McGill

Plaintiff in this ease, by virtue of his position as superintendent of banking, is receiver of failed banks in Iowa, and as such is receiver of the Commercial State Bank of Independence, Iowa, which had a capital stock of $100,000 divided into one thousand shares of $100 each.

The petition sets forth that prior to the 20th of November, 1931, the bank was actively engaged in carrying on a general banking business at Independence, Iowa; that it closed its doors on the 19th of November, 1931, and on said date was adjudged insolvent, and has been insolvent ever since; decree made and entered of…