Juillard v. Walker

James H. Walker Co. was a corporation engaged in the “ dry goods business.” It was insolvent, and owed many of its employes and customers for money left, with the corporation on deposit. There was a great deal of talk for three or four days among the persons conducting the business of the corporation about securing these depositors.

August 3, 1893, a meeting of the board of depositors was held, at which was adopted a resolution as follows:

“ Whereas, efforts are being made in New York and elsewhere, to raise money to help this company out of its existing difficulties; and

Whereas, certain of the…