T. T. Reese v. R. C. Baker

TERRELL, C. J. -- Petitioner was president of the Farmers Bank & Trust Company of West Palm Beach which closed its doors March 12, 1927, and was placed in the hands of a receiver. In July, 1928, the receiver of said Bank brought suit against petitioner on a stock assessment. This suit was not contested and in December, 1928, judgment by default was entered against petitioner in the sum of $29,475 principal and $1,965 interest.