Newell v. National Bank
Court of Appeals of Kentucky
Cases 9-11 — PETITIONS ORDINARY APPEALS FROM PULASKI CIRCUIT COURT. CITED Charter of the Commercial Bank of Kentucky. Revised Statutes, chapter 53; section 8. Act of March 14, 1871, Session Acts, pp. 61, 62. General Statutes, chapter 60. Charter of the Commercial Bank of Kentucky.
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Cases 9-11 — PETITIONS ORDINARY APPEALS FROM PULASKI CIRCUIT COURT. CITED Charter of the Commercial Bank of Kentucky. Revised Statutes, chapter 53; section 8. Act of March 14, 1871, Session Acts, pp. 61, 62. General Statutes, chapter 60. Charter of the Commercial Bank of Kentucky. Charter of the Farmers’ Bank of Kentucky. 22 Ohio, 508, Shunk v. First National Bank of Gabon. 13 Statutes at Large, 9; National Currency Act, section 30. 10 Ohio, 472,.Fosdick v. Perrysburg. 10 American Reports, 765. CITED Bankers’ Magazine (December, 1875), 466. General Statutes, 565. Morse on Banking, 16. 3…
1Opinion of the Court
JUDGE LINDSAY
delivered the opinion oe the. court.
These three appeals present the same question.
J. R. and J. P. Ingram, with these appellants as sureties, commenced in 1872 to borrow money from the appellee. The notes were made payable to one or more of the accommodation *59parties, and by'him or them indorsed to the bank. They were made to run four months, and were from time to time renewed as they fell due. The bank, at the time of the discounting of the first notes and at each and every renewal, retained the interest in advance. The sums so retained were in proportion to ten per cent per annum…
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