THE FAMOUS BANK CASE 



session, his report to the court shows that the 

 bank is not insolvent; that it has in cash 

 three hundred and fifty thousand dollars; and 

 that on paper which the defendants rated as 

 not bankable the examiner has collected one 

 hundred and sixty -nine thousand dollars. The 

 report of the examiner shows that the bank is 

 solvent and that it is well prepared to do 

 business. 



"Now it appears that the bank is not in- 

 solvent and, on the contrary, its solvency is 

 fully assured and the defendants have no right 

 to insist that they be permitted to wreck it. 

 Indeed they have no legal interest in the mat- 

 ter; they have no rights to protect. They 

 represent neither the bank nor its creditors, 

 depositors, or stockholders; neither the state 

 nor the public welfare. Hence the judgment 

 of this court is and must be to the effect that 

 the bank be restored to the full right to do 

 and transact its ordinary business without let 

 or hindrance, and that all proceedings against 

 it be dismissed with costs." 



Two of the five judges dissented. 



Immediately upon these findings the bank 

 was reopened. 



On the first day the deposits exceeded the 

 withdrawals by nearly forty thousand dollars, 

 notwithstanding that while the bank had been 

 closed the merchants of Fargo had accepted 

 checks upon it, and that these, having accumu- 



317 



