Commissioner of Banks v. Cosmopolitan Trust Co.
Massachusetts Supreme Judicial Court
Bill in equity, filed in the Supreme Judicial Court on January 26, 1921, and afterwards amended, by the commissioner of banks, seeking instructions whether, in his administration of the affairs of Cosmopolitan Trust Company, of whose property and business he had taken possession under St. 1910, c. 399, § 2, a return by him of cash in the amount of $607,005 from the commercial department to the savings department in the circumstances described in the opinion “was in…
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Bill in equity, filed in the Supreme Judicial Court on January 26, 1921, and afterwards amended, by the commissioner of banks, seeking instructions whether, in his administration of the affairs of Cosmopolitan Trust Company, of whose property and business he had taken possession under St. 1910, c. 399, § 2, a return by him of cash in the amount of $607,005 from the commercial department to the savings department in the circumstances described in the opinion “was in accordance with the laws which govern the rights of the respective creditors of the said trust company,” and, if such return “was…
1Opinion of the CourtRugg, C.J.
The Cosmopolitan Trust Company was incorporated in 1912 under R L. c. 116. It conducted in Boston a *257general banking business and maintained a savings department. On September 25, 1920, the plaintiff took possession of its property and business under St. 1910, c. 399, and acts in amendment thereof and in addition thereto. See now G. L. c. 167, § 22. Between August 23, 1920, and September 25, 1920, the Cosmopolitan Trust Company, through its officers, pledged mortgages, and other securities, assets of the savings department, to the amount of $1,243,240.90, as collateral security upon its notes…
2Cases cited8 opinions
- Wallace v. AdamsSupreme Court of the United States · 1907
- Little v. ChadwickMassachusetts Supreme Judicial Court · 1890
- United States v. Old SettlersSupreme Court of the United States · 1893
- Hewitt v. HayesMassachusetts Supreme Judicial Court · 1910
- Lowe v. JonesMassachusetts Supreme Judicial Court · 1906
3 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Spear v. H. V. Greene Co.Massachusetts Supreme Judicial Court · 1923
- Commissioner of Banks v. Prudential Trust Co.Massachusetts Supreme Judicial Court · 1922
- Commissioner of Banks in re Prudential Trust Co.Massachusetts Supreme Judicial Court · 1923
- Commissioner of Banks v. Cosmopolitan Trust Co.Massachusetts Supreme Judicial Court · 1924
- Goldband v. Commissioner of BanksMassachusetts Supreme Judicial Court · 1923
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