Bank of Des Arc v. Moody

This is an action instituted in the chancery court of Prairie County by A. L. Moody, Ed MeElwee and E. C. Blakemore against the Bank of Des Arc and G. W. Edmondson and others, directors thereof, and the Des Arc Bank & Trust Company.

The plaintiffs were stockholders in the Bank of Des Arc, and paid in 40 per cent, of the amount of stock subscribed. The bank suspended business and went into liquidation, and after its affairs were wound up and the creditors paid, only a small part of the assets were left to be distributed among the stockholders. Some of the assets were sold to the Des Arc Bank &…