Easton v. German-American Bank
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK. The court stated the case as follows: On April 14, 1875, the firm of Bowen Brothers, of Chicago, borrowed of the German-American Bank of New York the sum of $27,500, for which they gave their promissory notes, payable, respectively, in two, three, and four months from date. _ As collateral security for the payment of the loan they deposited with the bank forty bonds executed by…
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APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK. The court stated the case as follows: On April 14, 1875, the firm of Bowen Brothers, of Chicago, borrowed of the German-American Bank of New York the sum of $27,500, for which they gave their promissory notes, payable, respectively, in two, three, and four months from date. _ As collateral security for the payment of the loan they deposited with the bank forty bonds executed by themselves, payable to bearer five years from date, with interest semiannually, of the denomination of $1000 each, dated April…
1Opinion of the CourtJustice Matthews
The right of the complainant to the relief' prayed for is based upon the contention that the German-American Bank originally held the bonds secured by the deed of trust as a pledge given by way of security for the repayment of the lot to Bowen Brothers; that it has never sold that pledge, in pursuance of the terms of the agreement between the parties, and as required by law; that the land itself, the title to which was conveyed by Bowen Brothers to Smith in trust, was a mere incident to the pledge and a part of it; that notwithstanding the form of a sale under the trust deed by the trustee to…
2Cited by35 opinions
- Louisville Joint Stock Land Bank v. RadfordSupreme Court of the United States · 1935
- Wright v. Vinton Branch of Mountain Trust Bank of RoanokeSupreme Court of the United States · 1937
- Pauly v. State Loan & Trust Co.Supreme Court of the United States · 1897
- Fed. Sec. L. Rep. P 96,609 National Bank of Commerce of Dallas v. All American Assurance CompanyCourt of Appeals for the Fifth Circuit · 1978
- Morris v. . Windsor Trust Co.New York Court of Appeals · 1914
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