Bundy v. Cocke

• Decision Date: 12 November 1888
• Citation: 32 L.Ed. 396,128 U.S. 185,9 S.Ct. 242
• Parties: BUNDY v. COCKE
• Court: U.S. Supreme Court

128 U.S. 185

9 S.Ct. 242

32 L.Ed. 396

BUNDY v. COCKE.

November 12, 1888.

John Mason Brown, Alex. P. Humphrey, and George M. Davie, for appellant.

B. F. Buckner, for appellee.

BLATCHFORD, J.

On the 4th of February, 1885, Martin L. Bundy, receiver of the Hot Springs National Bank of Hot Springs, in the state of Arkansas, filed his bill of complaint in the circuit court of the United States for the district of Kentucky, against William M. Cocke and Amanda M. Cocke, his wife, and James Flanagan and Sue Flanagan, his wife, all of the defendants being alleged in the bill to be citizens of Kentucky. The bill alleges that on the 1st of March, 1884, the bank was a corporation created and organized under the national banking statutes, with a capital stock of $50,000, divided into 500 shares of $100 each at their par value; that it had its office of discount and deposit in the city of Hot Springs, in the state of Arkansas; that it suspended the business of banking on the 27th of May, 1884; that the plaintiff was duly appointed receiver of the bank on the 2d of June, 1884; and that, on the 25th of July, 1884, the comptroller of the currency determined that it was necessary to enforce the individual liability of the shareholders in the bank, to the amount of 50 per centum of the par value of its capital stock, 'and did make an order and requisition on the stockholders, and each and every one of them, equally and ratably, as the shares were held and owned by them, respectively, at the time said bank suspended and ceased to do business,' and directed the plaintiff 'as such receiver' to take the necessary legal proceedings to enforce such assessment against the shareholders in said bank, and each and every one of them. The bill then contains the following allegation: 'And your orator would further state that on the 27th day of May, A. D. 1884, when said bank suspended and ceased to do business, Amanda M. Cocke, wife of William M. Cocke, (both of whom are made defendants hereto,) was the owner of one hundred shares of the capital stock thereof, of the par value of ten thousand dollars, and the same still stands in her name on the books of the said association, on which the equal and ratable assessment and requisition made by the comptroller as aforesaid is five thousand dollars, with interest thereon from the said 25th day of July, 1884; that said defendant Amanda is possessed of property in her own right amply sufficient to pay said assessment, but utterly refuses to do so.' Then follows a like allegation as to Mrs. Flanagan, as the owner of twelve shares of the stock. The prayer of the bill is that an account be taken of the shares of stock held by each of the married women defendants, respectively, at the date of such suspension, and the assessment and requisition made by the comptroller of the currency thereon, and that a decree be made for the payment thereof out of the separate property held by the married women defendants in their own right, as each may be found indebted, with interest.

Mr. and Mrs. Cocke filed a demurrer to the bill for want of equity and also for multifariousness. The plaintiff then amended the bill by striking out the names of Flanagan and his wife as defendants; and, in July, 1885, he filed a bill of revivor, based on the fact of the death of Mrs. Cocke in March, 1885. The bill of revivor alleges that when Mrs. Cocke died, she was a citizen of Kentucky, and was domiciled and resident therein; that she...