Mitchell v. Banking Corporation of Mont.

On rehearing, the opinion herein, by Mr. Justice Stark, promulgated July 24, 1928, is withdrawn and the following opinion substituted therefor.

On July 27, 1925, A. D. Mitchell, Grace Mitchell and Martin Clancy commenced action to have declared invalid an attempted reduction of the capital stock of the defendant Banicing Corporation (hereinafter called the bank) and to enforce the statutory liability of the stockholders of that institution, after its insolvency, on the basis of the original capital stock, in order to create a fund to be applied toward the payment of the claims of plaintiffs,…