Thirty-First Street Building & Loan Ass'n v. Wetherell

The appellee is the assignee in insolvency of Melville T. Eoberts, who was a private banker conducting business under the name of Thirty-first Street Bank, and the assets of Roberts are being administered under the direction of the County Court. The appellant is what its name imports; Roberts was its secretary and banker, and as a stockholder, held 665 of its shares. As a stockholder he held also a large number of other shares, pledged to the association as security for money loaned by it to Roberts.

The appellee demanded of the association an adjustment of the loan; a payment to him of…