National Bank v. Case
Supreme Court of the United States
Appeal from the Circuit Court of the United States for the District of Louisiana. This is a bill brought by Frank F. Case, receiver of the Crescent City National Bank of New Orleans, against the stockholders of that institution, to pay him seventy per cent of the par value of the stock owned by them severally at the time when their respective liabilities were fixed by its insolvency, without regard to any pretended transfers of such stock as they may have attempted to make…
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Appeal from the Circuit Court of the United States for the District of Louisiana. This is a bill brought by Frank F. Case, receiver of the Crescent City National Bank of New Orleans, against the stockholders of that institution, to pay him seventy per cent of the par value of the stock owned by them severally at the time when their respective liabilities were fixed by its insolvency, without regard to any pretended transfers of such stock as they may have attempted to make after the insolvency occurred. As to some of the defendants the bill was dismissed; as to others, a decree was rendered…
1Opinion of the CourtJustice Strong
The Crescent City National Bank of New Orleans was organized under the national banking law in 1871. On the 13th of February, 1873, its London correspondents failed, and the bank lost heavily by the failure, — nearly the entire amount of its capital. This loss was almost immediately known in the community where the institution was located, and necessarily affected its credit. On the 14th of March, 1873, payment of checks drawn upon it by its depositors was suspended, and on the 17th of the same month its circulating notes went to protest.
In reference to the alleged ownership by the Germania…
2Cases cited7 opinions
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- Pullman v. UptonSupreme Court of the United States · 1878
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- Wheelock v. KostIllinois Supreme Court · 1875
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3Cited by170 opinions
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