James Reynolds Elevator Co. v. Merchants' National Bank
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, the Merchants’ National Bank of Poughkeepsie, N. Y., from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Dutchess on the 14th day of April, 1900, upon the report of a referee ; also an appeal by the plaintiff, the James Reynolds Elevator Company, from so much of said judgment as allows interest on the moneys found due by the referee only from the time of the commencement of the action,…
Read the full summary
Appeal by the defendant, the Merchants’ National Bank of Poughkeepsie, N. Y., from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Dutchess on the 14th day of April, 1900, upon the report of a referee ; also an appeal by the plaintiff, the James Reynolds Elevator Company, from so much of said judgment as allows interest on the moneys found due by the referee only from the time of the commencement of the action, instead of from the time when such moneys were wrongfully misapplied by the defendant as found by said referee.
1Opinion of the Court
Goodrich, P. J.:
The action is brought to recover the amount of two checks drawn upon the-defendant by James Reynolds as president of the plaintiff, the proceeds'of which were applied by the bank to the payment of individual debts of Reynolds, on the ground that such application was a misappropriation of the funds of the plaintiff.
Reynolds, prior to January, 1896, was doing business at Poughkeepsie under the name of James Reynolds Elevator Co. He had a deposit account in that name with the defendant. For convenience it is hereafter called the old account. The bank during the early part of the…
2Cases cited10 opinions
- First National Bank of Paterson v. National Broadway BankNew York Court of Appeals · 1898
- Claflin v. Farmers' & Citizens' Bank of Long IslandNew York Court of Appeals · 1862
- Rochester & Charlotte Turnpike Road Co. v. PaviourNew York Court of Appeals · 1900
- Gerard v. . McCormickNew York Court of Appeals · 1891
- Howard v. . FranceNew York Court of Appeals · 1871
5 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Steingut v. Guaranty Trust Co. of New YorkCourt of Appeals for the Second Circuit · 1947
- Manhattan Web Co. v. Aquidneck Nat. BankU.S. Circuit Court for the District of Rhode Island · 1904