Wray v. Citizens' Nat. Bank of Dublin

The appellee brought this suit against appellant upon a note executed by the latter to the order of appellee in the sum of $1,248.

The facts pertinent to the appeal are as follows:

Appellee is a national banking corporation. In the latter part of 1919 it was decided to increase its capital from $50,000 to $100,000 and at the same time increase its surplus $10,000. For this purpose stock was to be issued of the par value of $100 per share and sold at $120. Appellant subscribed for ten shares, and in payment therefor executed his note for, $1,200 in favor of ap-pellee, due in six months. This…