Schechter v. Sherwin (81 F.2d 603, 1936)

STONE, District Judge.

In this action, the receiver of the Washington Park National Bank of Chicago, hereinafter designated as “the Bank,” sought to recover from Lionel A. Sherwin, appellee, the superadded liability assessed against him, as a stockholder of the Bank, by the Comptroller of the Currency, pursuant to sections 63 and 64, title 12, United States Code Annotated. Jury was waived, and the cause was tried by the court, which rendered judgment for appellee.

Appellee had purchased through F. M. Zeiler & Co., brokers, 25 shares of the capital stock of the Bank; 15 shares were purchased on November 14, 1929, and 10 shares on February 20, 1930.

At a special meeting of the stockholders of the Bank, held on November 18, 1930, pursuant to resolutions duly adopted, the capital stock