Mechanics' Bank v. Merchants' Bank
Supreme Court of Missouri
Appeal from, St. Louis Circuit Court. I. The by-law set out in the agreed case is to be most strictly-construed against the bank. It only purports to prevent the-stock-owner from transferring his stock while he remains indebted to the corporation. It does not pretend to • interfere with the' rights of the general creditor to levy and sell the stock in the' manner prescribed by law. (See tit. Executions, 1 Wagn. Stat. 607, §§ 25 26, 28.) II.
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Appeal from, St. Louis Circuit Court. I. The by-law set out in the agreed case is to be most strictly-construed against the bank. It only purports to prevent the-stock-owner from transferring his stock while he remains indebted to the corporation. It does not pretend to • interfere with the' rights of the general creditor to levy and sell the stock in the' manner prescribed by law. (See tit. Executions, 1 Wagn. Stat. 607, §§ 25 26, 28.) II. If the Merchants’ Bank were permitted to set up a lien on this stock, it would be a fraud upon the purchaser at sheriff’s, sale. (Chouteau et al. v.…
1Opinion of the CourtWagner, Judge
The plaintiff sued the defendant for the conversion of fifteen shares of stock. From the record it appears that the fifteen shares of the stock of the defendant were, on the first day of January, 1861, held by Alonson F. Doak, James D. Donnell, and John S. Williams, each holding five shares, the par value of which was $100 per share; that in September, 1861, Doak and *515Williams, being then directors of the branch of the Merchants’ Bank at Osceola, took from the vaults the sum of $500 each, in gold; that Donnell was then indebted to the Merchants’ Bank in the sum of $2,500, no part of which has…
2Cases cited1 opinion
- St. Louis Perpetual Insurance v. GoodfellowSupreme Court of Missouri · 1845
3Cited by13 opinions
- Brinkerhoff-Farris Trust & Savings Co. v. Home Lumber Co.Supreme Court of Missouri · 1893
- Driscoll v. . West Bradley C.M. Co.New York Court of Appeals · 1874
- Riverside Land Co. v. JarvisCalifornia Supreme Court · 1917
- Bank of Atchison v. DurfeeSupreme Court of Missouri · 1893
- Carroll v. Mullanphy Savings BankMissouri Court of Appeals · 1880
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