In Re Hollister Bank of Buffalo
New York Court of Appeals
Appeal from the Silpreme Court. On the 2d day of September, 1857, the Hollister Bank was declared insolvent, and a receiver appointed. The receiver procéeded to close up the affairs of the bank, and on the 1st of July and 1st of September, 1858, he made dividends of all the cash in his hands among the creditors according to law. This dividend left $164,038.62 of the debts of the bank, contracted since January 1, 1850, still unpaid.
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Appeal from the Silpreme Court. On the 2d day of September, 1857, the Hollister Bank was declared insolvent, and a receiver appointed. The receiver procéeded to close up the affairs of the bank, and on the 1st of July and 1st of September, 1858, he made dividends of all the cash in his hands among the creditors according to law. This dividend left $164,038.62 of the debts of the bank, contracted since January 1, 1850, still unpaid. On the 29th September, 1858, the receiver rendered to a justice of the Supreme Court, an account of the debts unpaid, and of his proceedings, with a list of the…
1Opinion of the CourtEmott, J.
Section 7 of article 8 of the Constitution of this State declares that “the stockholders in every corporation and joint stock association for banking purposes, issuing bank notes or any kind of paper credits to circulate as money, after the first day of January, 1850, shall be individually responsible to the amount of their respective share or shares of stock in any such corporation or association, for all its debts ai d liabilities of every kind, contracted after the said first day of, January, 1850.” I do not doubt that it was or would be competent, under this clause of the Constitution,…
2Cases cited3 opinions
- Garrison v. . HoweNew York Court of Appeals · 1858
- Slee v. BloomNew York Supreme Court · 1822
- Briggs v. PennimanCourt for the Trial of Impeachments and Correction of Errors · 1826
3Cited by18 opinions
- United States v. KnoxSupreme Court of the United States · 1880
- Howarth v. . AngleNew York Court of Appeals · 1900
- People Ex Rel. Brown v. WoodruffNew York Court of Appeals · 1865
- Coyle v. Taunton Safe Deposit & Trust Co.Massachusetts Supreme Judicial Court · 1913
- Rehbein v. RahrWisconsin Supreme Court · 1901
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