First National Bank of Welch v. Anderson

Woods, Judge:

Prior to December 24, 1927, the Wyoming County Bank and the Bank of Davy, both state institutions, were going concerns. The latter held and owned five shares of the capital stock of the former, of the par value of $100.00 per share. On the date aforesaid, the Bank of Davy was closed and a receiver appointed, and the usual legal proceedings instituted. On October 23, 1928, the circuit court of McDowell county entered a decree, based on the commissioner’s report, directing the receiver to pay certain creditors and depositors certain stated sums of money. A month later, to-wit, on…