National Bank v. Colby
Supreme Court of the United States
Error to the Supreme Court of Alabama; the case being thus: On the 15th of April, 1867, a treasury draft of the United States was presented to the First National Bank of Selma, a bank organized under the act of Congress of June Sd, 1864, entitled “An atet to.provide a National currency secured by a pledge of United States bonds, and to provide few the circulation and redemption thereof,”* the act commonly known as the National Banking Act. Payment of the draft was refused.
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Error to the Supreme Court of Alabama; the case being thus: On the 15th of April, 1867, a treasury draft of the United States was presented to the First National Bank of Selma, a bank organized under the act of Congress of June Sd, 1864, entitled “An atet to.provide a National currency secured by a pledge of United States bonds, and to provide few the circulation and redemption thereof,”* the act commonly known as the National Banking Act. Payment of the draft was refused. On the morning of the following, day, the 16th, the bank'did not open for business; and during that day possession was…
1Opinion of the CourtJustice Field
Two questions are presented in this case for our determination : 1st, whether the property of a National bank organized under the act of Congress of June 3d, 1864, * attached at the suit of an individual creditor, after the bank has become insolvent, can be subjected to sale for the payment of his demand, against the claim for the property by a receiver of the bank subsequently appointed; and 2d, whether a suit against a National bank to enforce the collection of a demand is abated by a decree dissolving the corporation and forfeiting its rights and franchises.
To the first question the act of…
2Cases cited1 opinion
- Mumma v. Potomac Co.Supreme Court of the United States · 1834
3Cited by115 opinions
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Davis v. Elmira Savings BankSupreme Court of the United States · 1896
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Chicago Title & Trust Co. v. Forty-One Thirty-Six Wilcox Bldg. Corp.Supreme Court of the United States · 1937
- Oklahoma Natural Gas Co. v. OklahomaSupreme Court of the United States · 1927
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