Upham v. Bramwell

On February 16, 1922, the State Bank of Portland, Oregon, a state bank, was insolvent, and upon that date was, by its officers and directors, placed in the possession of the defendant, *601as superintendent of banks, to administer its affairs and liquidate its assets in conformity with the statutes governing’ the liquidation of insolvent state banks. Prior to its insolvency the bank conducted a commercial banking business and also maintained a savings department established in the manner prescribed by statute.

Defendant has converted a part of the assets of the insolvent bank into cash; about one…