Todd v. Russell

MANDELBAUM, District Judge.

This is an action to collect the statutory liability of the defendants as stockholders as provided by Federal Farm Loan Act, § 16, 12 U.S.C.A. § 812.

The plaintiffs, doing business as J. S. Todd & Co. are the holders of $10,000 principal amount of bonds of the Ohio Joint Stock Land Bank of Cincinnati,r Ohio. These bonds were acquired in 1928 after the bank had been placed in receivership. At the time of the failure of the bank, defendants Russell, Miller and Carey held *937200 shares of stock of the par value of $20,-000, defendant Taylor held 1,745 shares of the par…