Joseph v. Bates

The point of our difference may be clarified and stressed, if we state the propositions upon which we agree. They are:(a) The “statutory double liability” of national bank stockholders, 12 U.S.C.A. § 64, evidences a long established public policy, the object of which was to protect the depositors of national banks.(b) This statute has been construed to include stockholders of record who are not the real owners of the bank stock. Matteson v. Dent, 176 U.S. 521, 20 S.Ct. 419, 44 L.Ed. 571; Reconstruction Finance Corp. v. Barrett, 7 Cir., 131 F.2d 745, decided Dec. 4, 1942; Keyser v. Hitz, 133…