Moore v. Capital National Bank

On November 16, 1931, in a written communication to the board of directors of the City National Bank of Lansing, Michigan, the comptroller of the United States treasury department directed their attention to the very serious condition of the bank as disclosed by the report made the previous month. He commented on the very large losses in the bond department, an estimated loss of $713,574.77 in loans and discounts, the wiping out of the surplus, undivided profits, and reserve for contingencies and the impairment of almost one-half of the bank’s capital of $500,000. He most severely criticized…