White v. Melillo

This is an action by the Superintendent of Banks of the State of New York to recover the assessment of twelve dollars per share against the defendant on 103f shares of stock of the Mercantile Bank and Trust Company alleged to have been owned by him when the assessment was made.

The facts are as follows:

The Superintendent of Banks took possession of the Chelsea Bank and Trust Company on December 23, 1930, and he continued in possession until sometime in 1931.

On March 12, 1931, the Superintendent of Banks entered into an agreement with individuals who constituted themselves a reorganization…