Flanagan v. Madison Square State Bank

This is a bank stockholders’ liability case brought by creditors in which, after reference to a master and hearing by the court it was decreed that defendants should pay the receiver of the Madison Square State Bank, in satisfaction of their respective constitutional superadded liabilities as stockholders of the bank, various amounts running from $500 assessed against' Frederick C. Croft to $20,000 assessed against R. C. Wieboldt Company. Nine of the defendants have appealed.

June 14, 1932, the bank closed and a receiver was appointed by the auditor of public accounts. From 1923 to 1928…