Page:Federal Reporter, 1st Series, Volume 10.djvu/736

724 FEDERAL REPORTER. �defence is pleaded. Then it is urged, as well as pleaded, that the letter of recent date from the comptroller of the currency to Robert Mott, Esq., stating that a final dividend to the creditors of the Crescent City National Bank had been declared, and was now payable on sign- ing receipt and returning certificats of indebtedness, operated in abatement of this suit. I find no authority for this position. The statutes give the comptroller no such authority to so inferentially stop suits. Perhaps he might direct the receiver to discontinue, but to compound and settle claims requires the authority of the court. Eev. St. § 5234. To discontinue the direction should be positive. �And, finally, it is argued that under section 5151, Eev. St., no per- son can be made liable unless at some time or other he has been a stockholder of record, and been held out to the world as such. The law seems to be settled now that the owners of stock are liable under that section. �At the same time, those persons who hold themselves or allow themselves to be held out as owners of stock, are liable whether they own stock or not. It would seem that the rules relating to the own- ership of national bank stock are about the same as apply to part- nerships, Eeal partners are liable though not publicly known as part- ners, and persons who allow themselves to be held out as partners are liable though they have no real interest. �The case of Davis v. Stevens, decided by Chief Justice Waite, 17 Blatchf. 259, is a case directly in point. See, also, National Bank v. Case, 99 U. S. 628. �Let the accompanying decree for complainant be entered : �DEOEEE. �This cause came on to be tried at this term as to the defendant I. K. Small, and was argued by counsel, and thereupon, upon considera- tion thereof, it was ordered, adjudged, and decreed as follows, viz. : �That said defendant I. K. Small was, at the time of the failare of the Crescent City National Bank, on the fourfceenth day of March, 1873, the owner of 50 shares of the capital stock of said bank, of the par value of $100 each, then registered and standing on the books of said bank in the name of E. M. Small. And it is further ordered and decreed that said Frank F. Case, in his capacity as receiver of said Crescent City National Bank of New Orleans, do have and recover from the defendant I. K. Small, as owner of said shares, 70 per centum of the par value thereof, to-wit, the sum of $3,500. And it is further ordered, adjudged, and decreed that said defendant pay the ��� �