U. S. Securities Corp. v. Exchange National Bank

This suit was brought by the plaintiff, United States Securities Corporation, Inc., against the defendant, the Exchange National Bank, to recover the sum of $400, with legal interest thereon from July 1, 1928, which sum the defendant had charged the plaintiff for the release of certain money held by the defendant as collateral security for plaintiff’s indebtedness to the defendant.

Plaintiff alleged that ' the charge was wrongful, illegal, unwarranted, and ultra vires, and that other sums in the collateral security account had been released by the bank without charge.

Defendant admitted that…