National Bank of Shamokin v. Waynesboro Knitting Co.

Opinion by

Mr. Justice Kephart,

Graeber was the cashier of the National Bank of Shamokin. He was also a director, large stockholder, and owner of $50,000 bonds of the Republic Radiator Company, a Maryland corporation. John B. Eader, president, treasurer, general manager, director, and owner of approximately one-third of the stock of Waynesboro Knitting Company, was likewise a director, owner of some 5% of the stock, and $50,000 bonds of the Republic Radiator Company. This company, in July, 1929, was in financial difficulty; Graeber and Eader, with two others, Landis and Penney, also heavily…