First National Bank v. State Bank of Climax
Supreme Court of Minnesota
Action in the district court for Olay county to recover $600, the amount of dividends due to defendant upon certain shares of stock deposited by him with plaintiff bank. The case was tried before Taylor, J., who made findings and ordered that the action be dismissed. Plaintiffs’ motion for amended findings and conclusion of law was denied. From an order denying their motion for a new trial, plaintiffs appealed.
1Opinion of the Court
Dibell, C.
In January, 1908, K. O. Slette, one of the plaintiffs, was the owner of 15 shares of the par value of $100 each of the capital stock of the defendant State Bank of Climax. In that month a dividend of 40 per cent, was declared, making a total of $600. Prior to this time Slette had-deposited these 15 shares with the plaintiff First National Bank of Culbertson, Montana, as security for a loan. This action was brought to recover the dividends. There were findings for the defendant, and the plaintiffs appeal from the order denying their motion for a new trial.
Prior to the beginning of…
2Cited by2 opinions
- Curtis v. HutchinsonSupreme Court of Minnesota · 1914
- Cather v. United Mine Workers of AmericaWest Virginia Supreme Court · 1925