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John J. Crawford, for plaintiff in error.
F. W. Holden and Edward Winslow Paige, for defendant in error.
Mr. Justice WHITE delivered the opinion of the court.
The plaintiff in error, being a stockholder in the State National Bank of Wichita, Kan., was sued to enforce payment of the double liability imposed by law. The pleadings aver the existence of the legal prerequisites to the stockholder's liability, viz. the subscription by defendant to the stock, the due organization of and the authority conferred on the bank to engage in business, the suspension, the valid appointment of a receiver, and a ratable assessment made by the comptroller on the stockholders in conformity to law. Rev. St. 5151, 5234.
At the trial, objection was taken and reserved to the offering in evidence of the assessment made by the comptroller of the currency, and upon the close of the testimony the ground of this objection was reiterated by way of exception to the refusal of the court to give the following instruction:
A verdict was returned in favor of the plaintiff, and to the judgment thereon this writ of error is prosecuted.
The assignments of error are based solely on the grounds covered by the exception taken to the introduction of testimony, the refusal to charge, as above stated, and to an asserted want of jurisdiction in the court below. All these alleged errors may be reduced to the single contention that under the national banking law the comptroller of the currency is without power to appoint a receiver to a defaulting or insolvent national bank, or to call for a ratable assessment upon the stockholders of such bank, without a previous judicial ascertainment of the necessity for the appointment of the receiver and of the existence of the liabilities of the bank; and that the lodgment of authority in the comptroller, empowering him either to appoint a receiver or to make a ratable call upon the stockholders, is tantamount to vesting that officer with judicial power, in violation of the constitution. All of these contentions have been long since settled, and are not open to further discussion. Kennedy v. Gibson, 8 Wall. 498; Casey v. Galli,
Judgment affirmed.
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Citation: 164 U.S. 684
No. 497
Decided: January 04, 1897
Court: United States Supreme Court
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Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
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