Burke v. Maze

This appeal is from a judgment in favor of plaintiff. The controversy arose out of the following facts: The Union Savings Bank of San Jose was incorporated about November, 1888. In 1893 the defendant had become the owner of fifty shares of the capital stock of said bank of the par value of $100 per share, for which he held certificates duly and regularly issued. In March, 1899, said bank was declared insolvent and placed in liquidation. At the time the bank was so declared insolvent defendant had paid only ninety per cent of his subscription for said fifty shares of stock, and was still…