Matter of Schmidt v. Chamberlain of N.Y.

The question presented for decision is whether the Chamberlain of the city of New' York had authority under section 44-c of the State Finance Law (Cons. Laws, ch. 56), as amended in 1928, to invest funds deposited in court, where the court order directed him to hold the same until the further order of the court. We hold that, even assuming the amendment to be constitutional, yet in the case at bar the wording of the order of the court precluded any investment without a further order of the court.

There is no dispute as to. the facts in this case. In 1924, in a proceeding in the County Court of…