Sistare v. Olcott
New York Supreme Court
Appeal from special term, Hew York county. Action by William H. M. Sistare and George K. Sistare against Frederic P. Olcott, receiver of the Wall Street Bank, to recover $40,000 damages for the alleged conversion by the Wall Street Bank of 105 shares of stock of the American Printing Company and 250 shares of stock of the Youghiogheny Coal Company, growing out of the following allegéd facts: On May 14, 1884, plaintiffs borrowed from the Wall Street Bank $30,000, and secured…
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Appeal from special term, Hew York county. Action by William H. M. Sistare and George K. Sistare against Frederic P. Olcott, receiver of the Wall Street Bank, to recover $40,000 damages for the alleged conversion by the Wall Street Bank of 105 shares of stock of the American Printing Company and 250 shares of stock of the Youghiogheny Coal Company, growing out of the following allegéd facts: On May 14, 1884, plaintiffs borrowed from the Wall Street Bank $30,000, and secured the Joan by the said stock. On May 16, 1884, the plaintiffs paid $10,000 on account of the loan. The plaintiffs claim…
1Opinion of the CourtDaniels, J.
The complaint in the action was for the con version of shares of stock owned by William J. Hutchinson, a director of the Wall Street Bank, *115and by him pledged to the plaintiffs, to secure money owing to them. They used the shares to secure the sum of $30,000 which they borrowed from the bank. ' After the loan was made, they paid to the bank the sum of $10,000, reducing it to $20,000; but the shares of stock were still left with the bank as security for this remaining sum of money. The bank delivered to Hutchinson 250 shares of the coal company’s stock, forming the principal part of this…
2Cases cited3 opinions
- Durant v. AbendrothNew York Supreme Court · 1888
- Huebner v. RooseveltNew York Court of Common Pleas · 1877
- Parshall v. KlinckNew York Supreme Court · 1864
3Cited by4 opinions
- Glassford v. LewisNew York Supreme Court · 1894
- Upington v. KeenanNew York Supreme Court · 1893
- Cole v. Fall Brook Coal Co.New York Supreme Court · 1890
- Hogan v. CarrollNew York Supreme Court · 1889