Legal Opinion
Sneeden v. City of Marion, Ill.
Court of Appeals for the Seventh Circuit
Decided April 25, 1933No. 4784PublishedCited by 16 opinions
1Opinion of the CourtSparks, Circuit Judge
(after stating the facts as above).
The questions presented are: (1) Whether the pledge of securities was within the powers of the Bank and therefore valid; and (2) assuming the pledge to be invalid for lack of power, whether the receiver may recover the securities so pledged.
The courts in this country are not in accord as to whether national or state banks may pledge their assets as security for deposits of public or private money. This diversity of opinion has arisen by reason of the difference of state statutes, and a contrariety of economic views in applying the Federal statute and in…
2Cases cited63 opinions
- Davis v. GraySupreme Court of the United States · 1873
- United States v. State Bank of NCSupreme Court of the United States · 1832
- Rodgers v. United StatesSupreme Court of the United States · 1902
- United States v. OklahomaSupreme Court of the United States · 1923
- United States v. ClaflinSupreme Court of the United States · 1878
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3Cited by16 opinions
- Febres v. Challenger Caribbean Corp.Court of Appeals for the First Circuit · 2000
- Granzow v. Village of Lyons, Ill.Court of Appeals for the Seventh Circuit · 1937
- Suburban Trust Company v. National Bank of WestfieldDistrict Court, D. New Jersey · 1962
- Berger v. Chase Nat. Bank of City of New YorkCourt of Appeals for the Second Circuit · 1939
- La Parr v. City of RockfordCourt of Appeals for the Seventh Circuit · 1938
11 more not listed; retrieve them via the Exa API.