Atlantic & North Carolina R. R. v. Cowles
Supreme Court of North Carolina
This was a civil action brought against the defendant, Cowles, and his sureties, upon the bond which he gave upon being elected Secretary and Treasurer of the plaintiffs.
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This was a civil action brought against the defendant, Cowles, and his sureties, upon the bond which he gave upon being elected Secretary and Treasurer of the plaintiffs. At the last Superior Court of Craven county, the following case agreed was submitted to his Honor, Clarke, J.: While the defendant, Cowles, was Secretary and Treasurer of the plaintiff, and during the period covered by the bond in suit, he deposited money of the plaintiff with the firm of S. T. Jones & Co., bankers in the city of Newbern, to the credit of “ T. M. Cowles, Treasurer of A. & N. C. R. R. Co. On the 1st day of…
1Opinion of the Court
The condition of the bond declared on is in the following words: "Now, therefore, if the said T. M. Cowles shall faithfully discharge the duties of said office and well and correctly behave therein, then the above obligation to be void," c.
The defendant, Cowles, while in the service of plaintiff, received money for them and deposited it in the banking-house of S. T. Jones Co. to his credit as "Treasurer of the Atlantic and North Carolina Railroad Company." The bank was then in good credit, and the deposit was not a dishonest or imprudent one. The bank suddenly failed on 1st March, 1870, being…
2Cases cited2 opinions
- MINOR v. the Mechanics Bank of AlexandriaSupreme Court of the United States · 1828
- Ellis v. N. C. Institution for the Deaf & Dumb & the BlindSupreme Court of North Carolina · 1873
3Cited by5 opinions
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- State Ex Rel. Collins v. GoochSupreme Court of North Carolina · 1887
- State ex rel. Carroll v. Corning State Savings BankSupreme Court of Iowa · 1905
- City of Wilmington v. NuttSupreme Court of North Carolina · 1878