Merchants' Bank v. Sassee
Supreme Court of Missouri
Appeal from Chariton Circuit Court. I. The Circuit Court, in deciding that a premium on exchange could not be demanded and received upon the note sued on, assumed that the branch of the Merchants’ Bank of St. Loui's, at Brunswick, had its location, so far as the right to charge the one per cent, premium on the note was concerned, in St. Louis.
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Appeal from Chariton Circuit Court. I. The Circuit Court, in deciding that a premium on exchange could not be demanded and received upon the note sued on, assumed that the branch of the Merchants’ Bank of St. Loui's, at Brunswick, had its location, so far as the right to charge the one per cent, premium on the note was concerned, in St. Louis. In other words, it assumed, or had to assume in order to decide as it did, that the Merchants’ Bank of St. Louis was located not only in the city of St. Louis, but in every county where there is a branch of said bank — in the counties of Chariton, St.…
1Opinion of the CourtBates, Judge
The plaintiff sued the defendants on a note of the defendants which the plaintiff acquired by discounting the same at its branch at Brunswick, in Chariton county, Missouri. The note was by its terms payable at the Merchants’ Bank of St. Louis, at the city of St. Louis. The plaintiff, in discounting the note, deducted from the amount of it and in that way received the interest permitted by law to be received, and also in adddition thereto a sum for premium on exchange. The defendants set up this fact as a defence to the suit.
This is a common and well known trick of the banks for increasing…
2Cited by1 opinion
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