Vandover, Receiver v. Lbr. Underwriters

In May, 1933, J. W. Armstrong, as receiver for First National Bank of Corning, Arkansas, filed suit against The Lumber Underwriters, the Manufacturing Lumbermen’s Underwriters, the Lumbermen’s Underwriting Alliance, and ‘‘the unknown, participating members of The Lumber Underwriters.”

It was alleged that in January, 1931, the comptroller of the currency for the United 'States declared First National Bank to be insolvent;'that February 21, 1931, a 100 per cent, assessment was levied against stockholders;: that The Lumber Underwriters was a partnership and that certain assets belonging to said…