63 Ga. 549 | Ga. | 1879
We are unable to discover the error. The bank is no longer an agent of the United States. It has gone into liquidation. It has no ostensible property on which a levy can be made; its president declines and refuses to point out any property whereon the common law fi.fa. can be levied; he openly proclaims that the judgment shall not be paid while it can be, resisted; the stockholders have been paid large sums of money so that ■ the assets are reduced from $225,000.00 to $40,000.00, and how soon the remaining .assets may in like manner be scattered amongst the stockholders, many of them non-resident, no man can foresee. The only fund, therefore, out of which this judgment debt •can ever be paid is in danger, and in such case a receiver will be appointed unless other good reasons be exhibited ■against it. Eor the bank is insolvent so far as available legal assets within the reach of levy and sale under the ■common law fi.fa. is concerned, and the only hope of the creditor is in the assets not capable of being levied on and rapidly disappearing..
Code, §§3098, 3149, 274, 1946; Thompson’s National Bank Cases, 406, 321, 912, 203, 792, 77, 559, 774, 786; Rev. Stat. U. S., 5597 — cited by defendants in error.
Judgment affirmed.