National Park Bank v. German-American Mutual Warehousing & Security Co.
New York Court of Appeals
Appeal from judgment of the General Term of the Superior Court of the city of New York, entered upon an order made June 8,1886, which affirmed a judgment in favor of plaintiff, entered upon the report of a referee. This action was brought upon certain promissory notes made by the firm of Squires, Taylor & Co., made payable to the order of the makers, and alleged to have been indorsed by defendant, the German-American Warehousing and Security Company.
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Appeal from judgment of the General Term of the Superior Court of the city of New York, entered upon an order made June 8,1886, which affirmed a judgment in favor of plaintiff, entered upon the report of a referee. This action was brought upon certain promissory notes made by the firm of Squires, Taylor & Co., made payable to the order of the makers, and alleged to have been indorsed by defendant, the German-American Warehousing and Security Company. The plaintiff was incorporated in I860 under the national banking act, and the defendant was incorporated in 1872 under chapter 701 of the Laws…
1Opinion of the Court
Follett, Ch. J.
The statute by which the defendant was incorporated provides that, in addition to the powers therein enumerated, it shall possess all the powers and privileges of corporations organized under the manufacturing act (Chap. 40, Laws 1848), and the acts extending and amending the same, except wherein such acts are inconsistent with the provisions of the incorporating statute. The litigants agree that the defendant’s board of directors had power to authorize its president to make and indorse promissory notes for the purpose of transacting the business it was authorized to engage *292in,…
2Cases cited13 opinions
- Monument National Bank v. Globe WorksMassachusetts Supreme Judicial Court · 1869
- The Bank of Genesee v. . the Patchin BankNew York Court of Appeals · 1855
- Ætna National Bank v. Charter Oak Life InsuranceSupreme Court of Connecticut · 1882
- Central Bank v. Empire Stone Dressing Co.New York Supreme Court · 1857
- Bank of Vergennes v. CameronNew York Supreme Court · 1849
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3Cited by41 opinions
- Smith v. . WestonNew York Court of Appeals · 1899
- Park Hotel Co. v. Fourth Nat. Bank of St. LouisCourt of Appeals for the Eighth Circuit · 1898
- Humboldt Min. Co. v. American Manufacturing, Mining & Milling Co.Court of Appeals for the Sixth Circuit · 1894
- Carney v. DuniwayOregon Supreme Court · 1899
- George E. Lloyd & Co. v. MatthewsIllinois Supreme Court · 1906
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