Banking Commission v. Wiemann

On September 26, 1932, the State Bank of Sheboygan Falls was a banking corporation with a capital of $25,000, divided into two hundred fifty shares of $100 each. On that date the bank was in financial difficulties, and its capital was seriously impaired. It had been in this condition for some time. On September 19th, upon the recommendation of the Banking Commissioner of Wisconsin, and pursuant to a resolution by the bank directors, the mayor of Sheboygan Falls declared a legal holiday in the city, and requested that all places of business be closed from September 19th to September 29th.…