FALLGATTER v. CITIZENS' NAT. BANK


11 F.2d 383 (1926)

FALLGATTER v. CITIZENS' NAT. BANK OF WORTHINGTON, MINN., et al.

District Court, D. Minnesota, Second Division.

March 12, 1926.


Attorney(s) appearing for the Case

A. R. English, of Tracy, Minn., and James H. Hall, of Marshall, Minn., for plaintiff.

E. H. Nicholas, of Jackson, Minn., for defendants.


JOHN B. SANBORN, District Judge.

The plaintiff was, from early in the year 1923 until June 14, 1924, a director of the Citizens' National Bank of Worthington, Minn. During that time he was the owner of 50 shares of its capital stock, of the par value of $5,000. The entire capital stock consisted of 250 shares, of the par value of $100 each. Prior to June 14, 1924, the capital of the bank had become impaired, it had violated its charter and the banking laws of the...

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