Hotchkiss v. National City Bank of New York
District Court, S.D. New York
Suit by Henry D. Hotchkiss, as trustee in bankruptcy of Henry S. Haskins, Henry Leverich, individually, and Fannie G. Lathrop, special partner, and as copartners trading as Lathrop, Haskins & Co., against the National City Bank of New York, to recover certain securities claimed by the bank to have been pledged for certain clearance loans made by the hank to the bankrupts, who were stockbrokers doing business on the New York Stock Exchange.
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Suit by Henry D. Hotchkiss, as trustee in bankruptcy of Henry S. Haskins, Henry Leverich, individually, and Fannie G. Lathrop, special partner, and as copartners trading as Lathrop, Haskins & Co., against the National City Bank of New York, to recover certain securities claimed by the bank to have been pledged for certain clearance loans made by the hank to the bankrupts, who were stockbrokers doing business on the New York Stock Exchange. Pursuant to the custom of stockbrokers in New York, securities are deliverable on the day following then' sale. The transactions are of such magnitude…
1Opinion of the Court
HAND, District Judge.
I do not think it necessary to add anything to the referee’s report, except upon two questions: First, the •need of proving that the defendant knew that the bankrupts intended a preference; second, the defense of an equitable lien.
[1] Upon the first point Alexander v. Redmond, 180 Fed. 92, 103 C. C. A. 446, is conclusive. It is idle to say that the opinion is obiter. I tried the case below, and, being of different opinion, decided it expressly, because the element of an intent to prefer was lacking. The reversal was therefore expressly upon that point, and the case…
2Cases cited6 opinions
- Walker v. BrownSupreme Court of the United States · 1897
- Hurley v. Atchison, Topeka & Santa Fe Railway Co.Supreme Court of the United States · 1909
- Dillon v. BarnardSupreme Court of the United States · 1875
- Sexton v. Kessler & Co.Court of Appeals for the Second Circuit · 1909
- Alexander v. RedmondCourt of Appeals for the Second Circuit · 1910
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- Mencher v. WeissNew York Court of Appeals · 1953
- Angelou v. African Overseas Union, Texas Court of Appeals, 14th District (Houston)2000
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