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NATIONAL BANK OF XENIA v. STEWART

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107 U.S. 676 (1883)

2 S.Ct. 778

27 L.Ed. 592

NATIONAL BANK OF XENIA, v. STEWART.

Supreme Court of United States.

April 30, 1883.

Attorney(s) appearing for the Case

The case was argued by Mr. John Little for the plaintiff in error, and by Mr. Edgar M. Johnson for the defendants in error.

MR. JUSTICE FIELD delivered the opinion of the court.

Section 5201 of the Revised Statutes declares that "no association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; and stock so purchased or acquired shall, within six months from the time of its purchase,...

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