McCormick
McCormick v. King
Opinion
lead Opinion
Hunt, J.
This suit was brought by McCormick, as receiver of the First. National. Bank of Salmon, Idaho, against defendants King, Andrews, Buck, Bowerman, Haveman, Lottridge, and Edwards, to obtain an accounting of the affairs of the bank, and to determine the liability of the respective defendants, and for judgment against the defendants, respectively, according to their respective liabilities, and to recover money alleged to have been negligently wasted and lost and illegally received by the directors, and for general relief. After trial to the court, decree was entered against the defendants King and Andrews, and in favor of the defendants Bowerman and Edwards, and suit was dismissed for lack of service upon defendants Buck, Haveman, and Lottridge. McCormick, as receiver, appeals.
The bank, which-had done a general banking business from January, 1906, to June, 1911, suspended business on June 8, 1911, and in August, 1911, was put into the hands of a receiver. The original capital of the bank was $25,000, divided into 250 shares, of $100 each, but about February, 1910, the capital stock was increased to $50,000, divided into 500 shares, of the face value of $100 each. In January, 1912,…