Kelly

Appellee is a national banking association and appellants are certain of its stockholders.

In January, 1934, the bank was declared insolvent by the Comptroller of the Currency and one J. V. Hogan was appointed as receiver. Afterward the appellants severally presented to the receiver claims for sums of money which they had paid into the bank under circumstances presently to be stated. The receiver appears to have rejected the claims, or at any rate they were not paid. Suit was begun by appellants in January, 1936, for the recovery of the amounts, and the appeal is from a judgment denying recovery.

The complaint alleges that in June, 1931, a depreciation existed in the bank’s bond account, and at that time appellants, with other shareholders, entered into an agreement with the bank whereby they agreed to purchase from the latter the depreciation in that account; and that “by the terms of the said agreement the said bank agreed to pay * * * to the aforesaid parties * * * any pro-rata decrease which might from time to time appear in the said depreciation of the said bond account;” It is alleged that the amounts agreed upon were paid to the bank; that Hogan, upon his appointment as…