Barto v. Nix

The opinion of the court was delivered by.

Hoyt, C. J.

In 1890 the Bank of Puyallup was organized under the laws of the state with a capital stock of $100,000, divided into one thousand shares o£ $100 each. This stock was all subscribed for and sixty per cent, paid thereon before any business was trans-. acted. A. C. Campbell was the owner of two hundred shares of this stock, and on the 13th day of November, 1891, he transferred one hundred and ninety-nine shares directly to the bank and received a credit of $14,000 therefor on the books of the bank, to which *566he was then indebted; and the bank…