Chase

(after stating the facts as above). Error is assigned to the rejection of the proof offered by the appellants on the trial to show that the First National Bank was not insolvent, that the assessment rested alone upon the judgment for $200,000 obtained against the bank on its promissory note above referred to, which note was executed by the directors without authority and after the bank was in the hands of the National Bank Examiner, and the appellants’ argument is that the stockholders’ liability is purely a creature of statute and binds the stockholders to pay only those debts which are incurred in the ordinary course of business of the bank with the consent of the stockholders, and those which are incurred within the implied powers of liquidation. To that contention it is to be said, first, that it is well settled that the assessment of the Comptroller is conclusive in a suit against stockholders, and that the $200,000 note was but a means adopted to secure to the depositors of the First National Bank the payment of their deposits, and that the persons who organized the second bank and guaranteed the payment of said deposits did so upon the understanding that their bank should…