Cogswell v. Rockingham Ten Cents Savings-Bank
Supreme Court of New Hampshire
Insolvency Proceedings, for winding up the defendant bank, under Gen. St., e. 152. D. and F. having special deposits in the bank for safe keeping, to be checked out on call, and the Portsmouth Savings-Bank being the indorsee for value of a check drawn by the defendant bank on a Boston bank, in payment of a deposit, claimed payment in full, as creditors, in preference to the claims of the general depositors.
1Opinion of the CourtClark, J.
The assets of savings-banks consist of loans of money made by them for the benefit of their depositors, from whom the money was derived, and correspond to the capital stock in banks of discount, and depositors in savings-banks stand in the same relation to the assets of the bank as stockholders to banks of discount. Bunnell v. Collinsville Bank, 38 Conn. 203; Simpson v. Savings-Bank, 56 N. H. 466, 467; Osborne v. Byrne, 43 Conn. 155. They are the owners of the funds of the bank, entitled to share in its profits and liable to bear its losses pro rata, and upon the winding up of the business of…
2Cases cited6 opinions
- Coite v. Society for SavingsSupreme Court of Connecticut · 1864
- In re the President, Directors & Co. of the Franklin BankNew York Court of Chancery · 1828
- Osborn v. ByrneSupreme Court of Connecticut · 1875
- Cox v. BooneWest Virginia Supreme Court · 1875
- Bunnell v. Collinsville Savings SocietySupreme Court of Connecticut · 1871
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3Cited by11 opinions
- Appeal of Concerned Corporators of the Portsmouth Savings BankSupreme Court of New Hampshire · 1987
- Spencer v. Hibernia BankCalifornia Court of Appeal · 1960
- Bank Commissioners v. New Hampshire Banking Co.Supreme Court of New Hampshire · 1907
- Petition of the Union Five Cents Savings BankSupreme Court of New Hampshire · 1895
- In Re City Savings BankSupreme Court of New Hampshire · 1973
6 more not listed; retrieve them via the Exa API.