Comstock v. Morgan Park Trust & Savings Bank

When this cause first came before us, we transferred it to the Appellate Court for the First District. (Comstock v. Morgan Park Trust and Savings Bank, 363 Ill. 341.) That court affirmed the decree of the circuit court of Cook county, (287 Ill. App. 613,) and we have granted leave to appeal.

On Sunday, January 24, 1932, the above bank’s board of directors met at the president’s home in Chicago and adopted a resolution which stated that, on account of withdrawals, the secondary reserves of the bank had been exhausted to such an extent that the directors were convinced that the bank could not…