Andrew v. Bevington Savings Bank

The‘ Bevington Savings Bank was a banking corporation, organized under the laws of Iowa, and located at Bevington. Financial embarrassment overtook the institution, and the state banking department ordered an assessment on the stock of the concern, to restore impaired capital, on or about December 31-, 1921.' Such action-was taken.under and 'by virtue of Section 1878-of the 1897 Code, which reads:

“Should the capital stock of any state ’or savings bank become impaired by losses or otherwise, the auditor of state .[after-wards by amendment made the superintendent of banking] may require an…