Banking Commission v. Purves

The defendant formerly held thirty-four shares of stock in the Friendship State Bank. The bank ■ is in the hands of the Banking Commission for liquidation. The plaintiff imposed an assessment of $3,400 on the defendant under sec. 221.42, Stats., which imposes superadded liability on stockholders of state banks.

The defendant paid a hundred per cent assessment against the stock which was imposed under an agreement made in proceedings under the statute governing stabilization of state *23banks, and claims that this payment exonerates him from his superadded liability. The circuit court sustained…