Metcalf v. Jelks

Appellant, Charles D. Metcalf, was, until it closed its doors and was taken over for liquidation by the Bank Commissioner in May, 1927, cashier of the Union Bank & Trust Company of Batesville, Arkansas. He was indebted to the bank at that time in the sum of $3,050 in his own name and $3,000 in the name of his wife and son. He was also indebted to the appel-lees in the sum of $1,232, as security for which they held 40 shares of the Capital stock of said bank. The bank held no security for its debts. The debt to appellees being due, they demanded payment or additional security, the security…