McRoberts v. Spaulding

DEWEY, District Judge.

This is a suit brought against certain director’s' of the Merchants’ National Bank of Grinnell, Iowa, seeking recovery for loss alleged to have been sustained by the bank on account of negligently loaning money of the bank to parties claimed to have been insolvent at the time of such loans, and to recover on the alleged charge of loans made which were excessive under the prohibition of section 5200, U. S. R. S. (12 USCA § 84).

The bank was incorporated in the year 1883, and, at the time the loans complained of were made, had a paid up capital stock of $100,000, and an…