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Milwaukee Bank Receivers Win in Court of Appeals Right to Collect from Stockholders Upheld; Geiger Ruling Reversed eral circuit court of appeals at Chicago has decided that the receiver has the right to enforce the double liability clause of the federal farm loan act, in reversing the decision of Federal Judge F. A. Geiger. Milwaukee, in the case involving stockholders of the Bankers Joint Stock Land bank of Milwaukee. The effect of the decision attorneys said, would be to enable the receiver to collect $1,200,000 from stockholders who held that amount of stock in the bank, which was placed in the hands of receivers with $15,771,000 in bonds outstanding The failure of the bank was attributed largely to the depreciation in the value of farm lands in northern Wisconsin and other states. The question as to whether the receiver had the right 10 collect under the double liability clause of the federal farm loan act came before Judge Geiger on a demurrer of some stock holders. They contended that the right to collect belonged to the creditors and did not pass as an asset to the receiver and that therefore the receiver had no right to action at law. They did not deny the liability of stockholders as was reported at the time and Judge Gelger sustained their position. The appeal was heard by the United States court of appeals in Chicago, and notice of the decision reversing the lower court was received Friday.