Markville State Bank v. Steinbring

Olsen, C.

Appeal by defendant Henry L. Steinbring, hereinafter referred to as the defendant, from an order denying his motion for a new trial.

Plaintiff is a small bank, capitalized at $10,000, and the only one located in the small village of Markville. Defendant was a stockholder and director of the bank, and so continued until December, 1927. One E. T. Hogan was a director and president of the bank. On December 9, 1922, the bank was closed as insolvent and was taken over by the superintendent of banks. At the time the bank was closed defendant was liable as guarantor on paper of the bank to…