People Ex Rel. Barrett v. Farmers State Bank

By this appeal the stockholders who have paid their liabilities on account of stock ownership seek to set aside a decree of the circuit court of Washington county, which directed the Auditor’s liquidating receiver to pay interest from the date of his appointment on all the adjudicated claims against the Farmers State Bank of Irvington. The appeal was brought directly to this court, because a construction of section 6 of article 11 of the constitution of 1870 is involved.

On November 21, 1932, the bank was found to be insolvent and the Auditor of Public Accounts appointed a receiver. On the…