Mackey v. Royal Bank
Appellate Terms of the Supreme Court of New York
Appeal-by the plaintiff from a judgment dismissing the complaint after a trial in the Municipal Court of the city of Yew York, borough of Manhattan, eighth district.
1Opinion of the CourtGuy, J.
This action was brought to recover penalties from the 'defendant, a private banker, under section 74, chapter 10, Laws of 1909, being chapter 2 of the Consolidated Laws. The complaint alleged as one cause of action twenty-one separate and distinct violations of’ the act and asked judgment for twice the amount of illegal interest paid, aggregating $157.50.
The court dismissed the complaint on the ground that it was “ an action for cumulative penalties.”
Section 74 of the Banking Law provides that its true intent and meaning is to place and continue State banks and private bankers on an equality…
2Cases cited3 opinions
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- Schlesinger v. . GilhoolyNew York Court of Appeals · 1907
- People v. . SpencerNew York Court of Appeals · 1911
3Cited by1 opinion
- Mackey v. Royal BankAppellate Terms of the Supreme Court of New York · 1912