O'Brien v. . Grant
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department, entered upon an order made December 14, 1894, which affirmed a judgment in favor of defendant entered upon the report of a referee. This action was brought to recover from the defendant certain securities which had been deposited by the Madison Square Bank with the St. Nicholas Bank and the proceeds of the securities, which the latter bank had converted into money.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department, entered upon an order made December 14, 1894, which affirmed a judgment in favor of defendant entered upon the report of a referee. This action was brought to recover from the defendant certain securities which had been deposited by the Madison Square Bank with the St. Nicholas Bank and the proceeds of the securities, which the latter bank had converted into money. The following facts were found and are either undisputed or proved. In January, 1891, an arrangement was made between the Madison…
1Opinion of the CourtGray, J.
The St. Nicholas Bank claims the right to apply the securities and moneys theretofore deposited with it by the Madison Square Bank towards the reimbursement of its payments,, or clearances, of the latter’s checks on the morning of August 9th, 1893. With respect to that claim the proposition of the-plaintiffs is twofold. They say that rule. 25 of the clearing house did not require the Saint Nicholas Bank to clear the checks-drawn on the Madison Square Bank, presented after it became-aware of the insolvency of the latter, and that such insolvency terminated the relation of clearing house agent…
2Cases cited3 opinions
- Belton v. . HatchNew York Court of Appeals · 1888
- Merchants' National Bank v. National Bank of the CommonwealthMassachusetts Supreme Judicial Court · 1885
- Elmira Savings Bank v. DavisNew York Court of Appeals · 1894
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- In Re Haebler v. . N.Y. Produce ExchangeNew York Court of Appeals · 1896
- Stein v. MarksNew York Supreme Court · 1904
- Hogan v. WilliamsNew York Supreme Court · 1945
- Gray v. FerrisAppellate Division of the Supreme Court of the State of New York · 1930
- Moore ex rel. German-American Mercantile Bank v. American Savings Bank & Trust Co.Washington Supreme Court · 1920
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