Wingate v. Orchard
Court of Appeals for the Ninth Circuit
In Error to the District Court of the United States for the Western Division of the District of Washington. This was an action at law by Hubert Wingate, as receiver of an insolvent national hank, against George F. Orchard, a stockholder therein, to recover the amount of an assessment ordered by the comptroller of the currency upon the defendant’s stock.
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In Error to the District Court of the United States for the Western Division of the District of Washington. This was an action at law by Hubert Wingate, as receiver of an insolvent national hank, against George F. Orchard, a stockholder therein, to recover the amount of an assessment ordered by the comptroller of the currency upon the defendant’s stock. By the judgment below, defendant was allowed to set off against this assessment the amount of his deposits in the bank at the time it became insolvent, and the plaintiff brought error.
1Opinion of the Court
ROSS, Circuit Judge.
The sole question presented and argued by counsel in this case is whether or not a holder of stock of an insolvent national hank is entitled to offset against an assessment upon his stock, ordered by the comptroller of the currency, the amount of his deposits in the hank at the time it became insolvent. The court below held that the stockholder is entitled to offset against such assessment the amount of such individual claim against the hank, and to review that ruling the present writ of error wras brought. We are of opinion that the ruling was erroneous. The statute of…
2Cases cited2 opinions
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Hobart v. GouldDistrict Court, D. New Jersey · 1881
3Cited by14 opinions
- Federal Deposit Insurance Corporation v. Bank of America National Trust and Savings AssociationCourt of Appeals for the Ninth Circuit · 1983
- Duke v. ForceWashington Supreme Court · 1922
- Williams v. RoseDistrict Court, D. New Jersey · 1914
- State Ex Rel. Rankin v. Wibaux County BankMontana Supreme Court · 1929
- Wehby v. SpurwayArizona Supreme Court · 1926
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