Kennedy v. Gibson
Supreme Court of the United States
Appeal from the Circuit Court for the District of Maryland ; the case being thus : The act of June 3d, 1864,* “to provide a National cur-, reucy, &c.,” and which establishes those associations for carrying on the business of banking, now known as our “National Banks,” provides, by its 12th section, that the shareholders “ Shall be held individually responsible, equally and ratably, and not one for another', for all contracts, debts, and engagements of such association, to…
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Appeal from the Circuit Court for the District of Maryland ; the case being thus : The act of June 3d, 1864,* “to provide a National cur-, reucy, &c.,” and which establishes those associations for carrying on the business of banking, now known as our “National Banks,” provides, by its 12th section, that the shareholders “ Shall be held individually responsible, equally and ratably, and not one for another', for all contracts, debts, and engagements of such association, to the extent of their stock therein, at the par value thereof, in addition to the amount invested in such shares, except,…
1Opinion of the CourtJustice Swayne
This' is an appeal in equity, from the decree of the Circuit Court of the United States for the District of Maryland. The bill was filed by the appellant. For the purposes of the points necessary to be considered, the case may be briefly stated. The appellant has been duly appointed receiver of the Merchants’ Bank of Washington City, under the 50th section of the act of June 3d, 1864, and brings this bill to charge the defendants, who are alleged to be stockholders of the bank, with- the personal liability prescribed by the 12th section of the act. The facts necessary to warrant the…
2Cases cited1 opinion
- United States v. BabbitSupreme Court of the United States · 1862
3Cited by297 opinions
- Phillips v. CommissionerSupreme Court of the United States · 1931
- Sanger v. UptonSupreme Court of the United States · 1875
- Casey v. GalliSupreme Court of the United States · 1877
- Hale v. AllinsonSupreme Court of the United States · 1903
- Schoenthal v. Irving Trust Co.Supreme Court of the United States · 1932
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