Corsino v. Hanover Trust Co.

This is a suit to establish a claim against the Hanover Trust Company, in liquidation, for payments made by the plaintiff on contracts to buy Italian lire of the Hanover Trust Company, hereinafter referred to as the trust company. The defendants by a cross bill seek to recover the balance due under the contract. The plaintiff contends that the trust company had no authority to make the contracts with the plaintiff, and could not invest its funds in foreign currency, and had no “right to make 'short’ sales of such currency.”

The master to whom the case was referred found that the plaintiff, an…