Bank of Northern Liberties v. Jones & Cole
Supreme Court of Pennsylvania
Error to. the-District Qount 'oí Philadelphia. This was an attachment execution in'the District Court of Philadelphia, in which Rowland Jones and George W. Cole, trading'as Jones & Cole, were, plaintiffs, and'The Bank of the Northern Liberties, garnishees of Thomas C. Jones, were defendants. . . , . . ' After interrogatories had been filed and answered, the plea of nulla bona was entered -by the defendants, on which the parties went to trial.
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Error to. the-District Qount 'oí Philadelphia. This was an attachment execution in'the District Court of Philadelphia, in which Rowland Jones and George W. Cole, trading'as Jones & Cole, were, plaintiffs, and'The Bank of the Northern Liberties, garnishees of Thomas C. Jones, were defendants. . . , . . ' After interrogatories had been filed and answered, the plea of nulla bona was entered -by the defendants, on which the parties went to trial. The case was this: — Thomas C. Jones, against whom Jones & Cole held'a judgment, had for a long time been a depositor in the Bank of the-Northern…
1Opinion of the Court
The opinion of the court was delivered, May 10th 1862, by
Read, J.
“Money, when paid into a bank, ceases altogether to be the money of the principal; it is then the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with-him, when' he is asked for it.” The money placed in the custody of a banker is to all intents and purposes'the money of the'banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; “ he is not bound to keep it or deal with it as the property of his principal, but he is of course answerable for the…
2Cases cited1 opinion
- Frazier v. Erie BankSupreme Court of Pennsylvania · 1844
3Cited by13 opinions
- Prudential Trust Co.'s AssignmentSupreme Court of Pennsylvania · 1909
- Sherts v. Fulton National BankSupreme Court of Pennsylvania · 1941
- Franklin Trust Co. of PhiladelphiaSupreme Court of Pennsylvania · 1935
- Gartner, Trustee v. CassattSupreme Court of Pennsylvania · 1933
- Gordon v. Dime Bank Title & Trust Co.Supreme Court of Pennsylvania · 1934
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