Deseret Evening News | 1900-01-04 | Page 3 | Shareholders in National Banks

In National ChIcago Jan new point under the statute which holds n a shareholder In n a national bank liable for Is assess assessment ess ment on the stock Is made In a d decision handed down Intha In the United States dr clr cult court ot of appeals by Judges Woods Dunn and Allen The ruling was on the appeal or of E B T Wilson receiver ot of the First National bank ot of Helena time the Merchants Loan Lonn and Trust com company pan of Chicago and the judges the decree ot of the lower court 1 absolved the Tru Trust t company from liability The orIgInal action wan Vas begun In the United States cIrcuit court by Ute the te re teler eiver ot the tha First t National bank of oC helena who sought to recover an as ot of n a share on 10 shares if af the stock of the In institution April IS 15 ShIrley C Ashley presIdent If t the Helena National bank borrowed t f the Trust Cl and gave gae gaveta ta II collateral security certificates for tor lW of at the capItal stock ot of the bank iii time the following JUly Ashley assigned Hid irid resigned the of the ank being succeeded b by E D F Edger er lon ion In April 1193 the Helena Nation il II bank was with the National bank of that city and LI lit allowan ot of SO 80 per cent on theIr tock wAIr was to shareholders of he former bank D Dy this arrangement he shawl ot of Ashley were converted shares though It Is claimed his II was dOne b by the Trust company Iii consent The court holds hold Y T II Y T V that It Is not shown that thIs conver slon sian vas all not eff effected ted by the thu authority ot of Ashley Ashle