Best v. Davis Sewing Mach. Co.
New York Supreme Court
Appeal from special term, New York county. Action by William J. Best, as receiver of the National Trust Company of New York, against the Davis Sewing Machine Company and others, to recover on certain bonds of defendant company. Judgment on verdict directed for defendant, and plaintiff appeals.
1Per curiam
In December, 1877, the National Trust Company of New York became insolvent, and the plaintiff was appointed receiver of its property. Final judgment of dissolution was entered in April, 1879, under which the plaintiff was continued as receiver. Among the assets which carné into his hands were 10 bonds purporting to be made by the Davis Sewing Machine Company, for the sum of $1,000 each, which, by their terms, were due on November 1, 1876. These bonds, it would appear, had been pledged with the trust company as collateral for a loan to the Security Bank of Watertown, which remained unpaid at…
2Cases cited2 opinions
- Sanford v. . SanfordNew York Court of Appeals · 1875
- McQueen v. BabcockNew York Supreme Court · 1863