Page:Federal Reporter, 1st Series, Volume 10.djvu/734

 723 FEDERAL REPORTES. �expenses of the administration up to tfais time, including the compen- sation of the receiver, Fell, and the costs in this cause, be paid by the defendant Williams, as trustee. ���Case, Eeceiver, v. Small and others.* {Circuit Court, E. D. Louidana. July 14, 1881.) �1. NATIONAIi Bank— OOMPTBOLLEB OF THE CURRENOT — RbT. 8t. § 5234. �The oomptroller of the currency has no power to compound or aettle claims of a national baiik against its debtors ; that requires the authority of the court, imder Rev. St. § 5234. Quœre, can he direct their discontinuance t 2. National Bank— Liabilitt of Stockholdebs— Rbt. St. 5151. �Under section 5161, Rev. St., owners of stock in a national bank are liable for its debts, and persons who hold themselves out or allow themaelves to be held out as owners of stock, are also liable, whether they own stock or not. �John D. Rouse and William Orant, for complainant. �Thomas J. Semmes and Robert Mott, for defendant I. K. Small. �P.ARDEB, G. J. This is a suit brought by the receiver of the Cres- cent City National Bank against the defendants to compel the contri- bution of 70 par cent, on certain 50 shares of the stock of said bank, under the assessment of the comptrolier of the currency, by virtue of section 5151, Eev. St. �It seems that, just prior to the failure of the bank, Keenan, one of the defendants, through a broker, sold 50 shares of the stock. They were purchased by I. K. Small, and paid for by him, as he says, fbr and on account of his sister. Miss E. M. Small, and were traus- ferred on the books of the bank by Keenan to Miss Small. �The plaintiff claims that this transfer, so far as the putting of the stock in the name of Miss Small is concerned, was a sham, a simulation, and that I. K. Small was the real purchaser; that this simulation was resorted to to avoid the liability of stockholders under the laws of the United States. �It is shown that Miss Small resides in Maine ; that she was spend- ing the winter here, and was and is of no peeuniary respousibility, and was without means of her own to make the purchase, requiring $1,500; that I. K. Small paid the purchase price, and, so far as it appears, has never been reimbursed. An examination of the evi- dence of I. K. Small, taken in a former case, in relation to the same �*Kopoited by Joseph P. Hornor, Eaq., of the New Orleans bar. ��� �