Wyncoop, Admr. v. Laughner

This was a suit instituted by David Wyncoop (now deceased) against forty-nine (49) persons as shareholders in a private bank to recover an alleged balance due on a certificate of deposit and a checking account. The complaint alleged the following facts, among other facts, that: The certificate of deposit had been issued by a predecessor (incorporated) bank. Thé capital of said predecessor bank had become impaired and nine of the defendants (appellees here), with the approval of the State Bank Commission, had executed “Private Bank Articles of Co-Partnership (of) Peoples Bank of Whitestown,…