Brunswick T. Co. v. NAT. BK. OF BALTIMORE
Supreme Court of the United States
Certiorari to the circuit court op appeals por the fourth CIRCUIT. This was a bill filed January 14, 1898, in the Circuit Court of the United States for the District of Maryland by the Brunswick Terminal Company and others, creditors of the Brunswick State Bank, chartered by the State of Georgia, which failed and was declared insolvent in May, 1893, to enforce, in behalf of its creditors, against the National Bank of Baltimore, a statutory liability equal to the par value of…
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Certiorari to the circuit court op appeals por the fourth CIRCUIT. This was a bill filed January 14, 1898, in the Circuit Court of the United States for the District of Maryland by the Brunswick Terminal Company and others, creditors of the Brunswick State Bank, chartered by the State of Georgia, which failed and was declared insolvent in May, 1893, to enforce, in behalf of its creditors, against the National Bank of Baltimore, a statutory liability equal to the par value of certain shares of stock in the State Bank at one time standing in the name of the Baltimore Bank. The case was first…
1Opinion of the CourtChief Justice Fuller
The Baltimore. Bank was a national bank, and was not authorized to permanently invest any portion of its capital iii the stock of other corporations, nor did it attempt to do so in this instance. The shares of stock of the Brunswick Bank were merely accepted as collateral to a note discounted by the Baltimore Bank. They stood, it is true, for a few weéks in the name of the Baltimore Bank on the registry of the Brunswick Bank, but they were then retransferred to the pledgor as appeared on the registry, the note having been paid. Complainants became creditors long after the transaction, and…
2Cases cited1 opinion
- Brobston & Co. v. DowningSupreme Court of Georgia · 1894
3Cited by18 opinions
- Shriver v. Woodbine Savings BankSupreme Court of the United States · 1932
- Wheatley v. GloverSupreme Court of Georgia · 1906
- Smathers v. Bank.Supreme Court of North Carolina · 1904
- John V. Farwell Co. v. Jackson StoresSupreme Court of Georgia · 1911
- Wood v. WhiteCourt of Appeals for the D.C. Circuit · 1938
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