Pedersen v. Logan Square State & Savings Bank

A representative suit in equity was filed in the superior court of Cook county by creditors to enforce the constitutional and statutory liability of the stockholders of the defunct Logan Square State and Savings Bank. As owners of three shares of the capital stock of the bank, John R. and Ruth Notz were made defendants and personally served with summons on Sunday, September 17, 1939. Neither appeared or answered, and a decree in favor of the receiver for the benefit of all of the creditors of the bank was entered against them on November 27, 1939, for $300 and costs. An execution was issued…