State v. Waterville Savings Bank
Supreme Judicial Court of Maine
On report. Debt, to recover tax due on deposits from May, 1876, to November, 1876. Writ was dated February 1, 1878. The trustees, finding that the bank was insolvent, voted, April 29, 1876, to “close the bank to receiving or paying deposits for the present.”
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On report. Debt, to recover tax due on deposits from May, 1876, to November, 1876. Writ was dated February 1, 1878. The trustees, finding that the bank was insolvent, voted, April 29, 1876, to “close the bank to receiving or paying deposits for the present.” No deposits were received or paid until November 14, 1876, when business was resumed, in accordance with a vote of the trustees passed October 5, 1876. After the suspension, and while the bank examiner was giving directions in regard to conducting the affairs of the bank, and between May and November, negotiations were carried on with the…
1Opinion of the CourtAppleton, C. J.
This is an action of debt, to recover the assessment the defendants were required to pay the state treasurer under the provisions of c. 17, § 1, of the acts of 1875.
The organization of the bank was admitted. The trustees of the bank, finding it insolvent, temporarily closed it, and then, under the advice and direction of the state bank examiner, entered into negotiations with the depositors, the result of which was that the deposits were reduced twelve and one-half per cent, and the depositors exchanged their books for new ones crediting them with eighty seven and one-half per cent of their…
2Cases cited4 opinions
- Steamship Co. v. JoliffeSupreme Court of the United States · 1865
- Hawthorne v. CalefSupreme Court of the United States · 1865
- Commonwealth v. Lancaster Savings BankMassachusetts Supreme Judicial Court · 1878
- Town of Starksboro v. Town of HinesburghSupreme Court of Vermont · 1841
3Cited by6 opinions
- State ex rel. Pierce v. SlusherOregon Supreme Court · 1926
- Smith v. KellyOregon Supreme Court · 1893
- Thut v. GrantSupreme Judicial Court of Maine · 1971
- State v. BeanSupreme Judicial Court of Maine · 1963
- Hagler v. KellyNorth Dakota Supreme Court · 1905
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