Casey v. Cavaroc
Supreme Court of the United States
Appeal from the Circuit Court of the United States for the District of Louisiana. The National New Orleans Banking Association, an organization formed under tbe National Bañking Act of 1864, failed and ' suspended payment on the 4tb of October, 1873, and ón the 27th Of that month was placed in the hands of a receiver, under -the fiftieth section of the act.
Read the full summary
Appeal from the Circuit Court of the United States for the District of Louisiana. The National New Orleans Banking Association, an organization formed under tbe National Bañking Act of 1864, failed and ' suspended payment on the 4tb of October, 1873, and ón the 27th Of that month was placed in the hands of a receiver, under -the fiftieth section of the act. At or about the time of the failure, Charles Cavaroc, the president of the bank, took therefrom certain bills and notes to the amount of $325,011.26, and delivered the same to his-firm of C. Cavaroc & Son, who claimed to hold them as…
1Opinion of the CourtJustice Beadley
The substance of the agreement in this case, so far as neces.sary tó be considered, was, that the Credit Mobilier should accept the drafts of the banking association to the amount of ■a million of francs at ninety days, the bank agreeing to furnish funds to pay the drafts at maturity, with the privilege of a renewal; and it was stipulated that this obligation of the bant should be guaranteed by Cavaroc & Co., and by a deposit witl them, for the use of the Credit Mobilier, of first-class securities of which deposit the latter was to be advised.
This arrangement was immediately telegraphed to…
2Cases cited8 opinions
- Mitchell v. WinslowU.S. Circuit Court for the District of Maine · 1843
- Clark v. IselinSupreme Court of the United States · 1875
- Gibson v. WardenSupreme Court of the United States · 1872
- White & Williams v. PlattNew York Supreme Court · 1848
- Matthews v. RutherfordSupreme Court of Louisiana · 1852
3 more not listed; retrieve them via the Exa API.
3Cited by156 opinions
- Waterman v. MacKenzieSupreme Court of the United States · 1891
- Benedict v. RatnerSupreme Court of the United States · 1925
- Security Warehousing Co. v. HandSupreme Court of the United States · 1907
- McCandless v. FurlaudSupreme Court of the United States · 1935
- Pierce v. National Bank of CommerceCourt of Appeals for the Eighth Circuit · 1920
151 more not listed; retrieve them via the Exa API.