Bates v. First Trust & Savings Bank

The above-named bank at Sioux City closed its doors and a receiver was appointed for it in December, 1931. In March, 1932, a petition in equity was filed alleging the insolvency of the bank; that its assets, plus the one hundred per cent assessment on all stockholders, would not produce sufficient to pay the debts of the corporation; and asking judgment against George M. Paradise, as a stockholder, for one hundred per cent super-added liability under the aforesaid section of the statute. The case was tried, and as here presented the first question in the case is whether or not George M.…