Harriet State Bank v. Samels

Lees, C.

Action on a bond executed by the defendant Saméis, as principal, and the Hartford Accident & Indemnity Company, as surety, to A. J. Veigel, as State Superintendent of Banks. Mr. Veigel and the Harriet State Bank joined ini bringing the action. Separate demurrers to the complaint were interposed and overruled. The court made the statutory certificate of doubt, and defendants appealed separately.

The capital of the bank was $25,000. It had become impaired and its liabilities exceeded its assets. It was notified by Mr. Veigel to levy a stockholders’ assessment or replace bad paper with…