People ex rel. Barrett v. West Side Trust & Savings Bank

Mr. Presiding Justice Friend

delivered the opinion of the court.

January 12, 1934, the auditor of public accounts appointed William L. O’Connell receiver of the West Side Trust and Savings Bank, pursuant to the power vested in him under section 11 of An Act to Revise the Law with Relation to Banks and Banking (ch. 16a, Cahill’s Ill. Rev. Stat. 1933), and thereafter, on January 15, 1934, he filed a bill of complaint in the superior court of Cook county, alleging in substance that the capital stock of the bank had become impaired, that its business was being conducted in an unsafe manner, that a…