Charles Evans Hughes

“ We observed that the contingent obligation of a stockholder to pay an assessment was rendered absolute by the Comptroller's action in ordering one and that from the moment of the order of assessment the receiver had a claim which would support an action at common law against a living stockholder or the executor of a deceased stockholder ”

“ In all this we were not considering or deciding the question of the application of a statute of limitations to a suit against a stockholder upon an assessment made by the Comptroller where payment was not required before a specified date, prior to which no suit could be maintained.
We find no ground for questioning the authority of the Comptroller in making an assessment to fix a later date for its payment. The federal legislation does not impose or suggest any such limitation upon the exercise of his power. ”

“ The District Court sustained the plea and its judgment was affirmed by the Circuit Court of Appeals. Futrall v. Ray, 8 Cir., 111 F.2d 695. Because of a conflict of decisions we granted certiorari. See Strasburger v. ”