Karn v. Andresen

OTIS, District Judge.

The Citizens’ National Bank of Ortonville, Minn., having become insolvent, was taken over by the Comptroller of the Currency December 23,1926, and one William Ryder was appointed receiver. Ryder served as receiver until April 1, 1929, when he was succeeded by Carl M. Andresen. Andresen, as receiver, and the bank are the appellees. The appellant, a stockholder and director of the bank, had certain claims against the bank, which had been allowed and on which dividends had been declared. These dividends had been retained by the receiver. It was contended by the receiver that…