Weatherwax v. Johnson

This action was brought to recover the balance of a dividend from an insolvent bank. The defendant, the state supervisor of banking, in his answer admitted the allegations of the complaint, and pleaded an offset, in that the plaintiff was indebted, on account of interest on deferred payments of the plaintiff’s super added stock liability, to an amount equal to the dividend not paid. The cause was tried to the court without a jury, and resulted in findings and conclusions sustaining the plaintiff’s right to recover in the sum of $480.52, with interest. Judgment was entered against the…