Bank of Columbia v. Attorney General
Court for the Trial of Impeachments and Correction of Errors
Appeal from chancery. On the 13th June, 1829, the attorney general of this state filed an information against the president, directors and company of the Bank of Columbia, in which he stated the incorporation of the company on the 6th March, 1793, for banking purposes; that the company commenced and pursued the business of banking by the issuing of bank bills or notes in the name of the corporation, and by receiving deposits and making discounts, and that they continued such…
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Appeal from chancery. On the 13th June, 1829, the attorney general of this state filed an information against the president, directors and company of the Bank of Columbia, in which he stated the incorporation of the company on the 6th March, 1793, for banking purposes; that the company commenced and pursued the business of banking by the issuing of bank bills or notes in the name of the corporation, and by receiving deposits and making discounts, and that they continued such banking operations for the space of thirty-six years, during which time large sums of money were received by the…
1Opinion of the Court
The following opinions were delivered:
By Mr. Justice Sutherland.
It was contended, on the part of the appellants, that it was not sufficient for the attorney general to make out a prima facie case of insolvency, but that it was his duty to establish the fact by clear and incontrovertible evidence, before the court of chancery had any right to move in the case. If, by the insolvency of a bank be meant its absolute and final inability to pay its debts, it is, manifest that the fact insolvency can never be clearly and positively established, without a full developement of all its concerns. The…
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