State v. State Bank of Alamogordo

SADLER, Justice.

Reconstruction Finance Corporation, as appellant, complains of an order of the district court of Otero county, directing the manner of its participation, as a secured creditor in the assets of State Bank of Alamogordo in liquidation before the court under the act for the winding up of insolvent corporations. John Bingham, as state bank examiner, and Lewis N. Gillis, as coreceiver of the bank, are the real appellees, although the state appears nominally as such.

The bank closed its doors on November 12, 1932, and on the agreed statement of facts upon which the question involved…