Bierma v. Ellis

Prior to April 4, 1930, a private bank known as the Citizens Bank of Carlisle was conducting its business in the town of Carlisle, Iowa. The bank had' a capital of $25,000, and was a partnership composed of twenty-five individuals whose interest in said partnership was represented by so-called “shares” in various amounts. On or about the said 4th day of April, 1930, five of said partners filed a petition in equity in the district court of Warren County, wherein they were plaintiffs and the said bank and the remaining partners therein were made defendants. Said petition alleged that said bank…