National Bank v. City of New York

The issue presented for our determination on this appeal is whether the chamberlain of the city of New York had authority under section 44-c of the State Finance Law, as amended (Laws of 1928, chap. 837, in effect April 6, 1928), to invest funds deposited in court where the order directed the deposit of the funds *235“ subject to the further order of the court pending the determination of certain actions now pending in the Supreme Court of Queens county.”

The facts are not in dispute. The actions referred to in the order as pending at the time the order was made had been brought to settle the…