Bank of Attica v. . Manufacturers' and Traders' Bank
New York Court of Appeals
Appeal from the Supreme Court. Action, by the plaintiff, a corporation organized under the act to authorize the business of banking, against another corporation organized under the same act, to recover the sum of $1,000, and interest from the 1st of September, 1857. The complaint, after setting up the organization of the parties under the act of 18th April, 1838, avers these facts: On the 18th of September, 1856, one Chester Hitchcock became and was the owner of twenty…
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Appeal from the Supreme Court. Action, by the plaintiff, a corporation organized under the act to authorize the business of banking, against another corporation organized under the same act, to recover the sum of $1,000, and interest from the 1st of September, 1857. The complaint, after setting up the organization of the parties under the act of 18th April, 1838, avers these facts: On the 18th of September, 1856, one Chester Hitchcock became and was the owner of twenty shares of stock of the defendant’s bank, and held a certificate of that date for such stock, numbered 175, in his own name.…
1Dissent
Allen, J. (Dissenting.)
It is objected in the first place that this action cannot be maintained: that the remedy should have been by action to compel the defendant to transfer the stock" on its books, inasmuch as in the event of a recovery it would not become the owner of the stock, and cannot therefore in this way reduce its capital.
Since the decision of the Court of Errors in the case of The Commercial Bank of Buffalo v. Kortwright (22 Wend., 348), this question has been considered as settled in the courts of this State, and the propriety of this form of action was recognized upon the…
2Cases cited13 opinions
- Commercial Bank v. KortrightCourt for the Trial of Impeachments and Correction of Errors · 1839
- Robert Y. Brent, Surviving of Robert Brent, Use of the United States v. The President and Directors of the Bank of WashingtonSupreme Court of the United States · 1836
- The Mechanics Bank of Alexandria v. LOUISA & MARIA SETONSupreme Court of the United States · 1828
- Union Bank of Georgetown v. LairdSupreme Court of the United States · 1817
- President of the Bank of Utica v. SmalleyNew York Supreme Court · 1824
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