Palchi v. Robbins

The facts in this case as disclosed by the record and stipulated by counsel may be summarized as follows:

The Italian Trust & Savings Bank was incorporated under the banking laws of the State of Illinois on June 30, 1921. It was closed on June 10, 1931, by Oscar Nelson, auditor of public accounts of that State. The defendant Margaret K. Robbins, now a resident of the State of California, was the owner of 100 shares of stock in the bank of the par value of $100 each on October 1, 1929. At the time the bank closed, there were six creditors thereof who had money therein which had been on deposit…