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BRODERICK v. ROSNER

No. 528.

294 U.S. 629 (1935)

55 S.Ct. 589

79 L.Ed. 1100

BRODERICK, SUPERINTENDENT OF BANKS OF NEW YORK, v. ROSNER ET AL.

Supreme Court of United States.

Decided April 1, 1935.

Attorney(s) appearing for the Case

Messrs. Carl J. Austrian and James D. Carpenter, Jr., with whom Messrs. Arthur Ofner and Harold N. Cohen were on the brief, for appellant.

Mr. Walter J. Bilder, with whom Mr. Nathan Bilder was on the brief, for Mary Rosner et al., appellees.

Mr. David Friedenberg, with whom Messrs. Howard Ewart, Benjamin Gross, and James Mercer Davis were on the brief, for Charles P. Anderson et al., appellees.

Mr. J.H. Harrison submitted for The Bobdon Co. et al., appellees.

MR. JUSTICE BRANDEIS delivered the opinion of the Court.

Pursuant to Article VIII, § 7, of the Constitution of New York, its Banking Law (Consolidated Laws, Chapter Two) provides, § 120:

"The stockholders of every bank will be individually responsible, equally and ratably and not one for another, for all contracts, debts and engagements of the bank, to the extent of the amount of their stock therein, at...

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