Vermilye & Co. v. Adams Express Co.
Supreme Court of the United States
Vermilye & Co., bankers of New York, having presented to the Treasury of the United States for payment some time after their maturity eight treasury notes issued under the authority of the act of March 5th, 1865, were informed that the Adams Express Company asserted an ownership of .the notes, and that they could not be paid until the question of ¿he rightful ownership was settled.
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Vermilye & Co., bankers of New York, having presented to the Treasury of the United States for payment some time after their maturity eight treasury notes issued under the authority of the act of March 5th, 1865, were informed that the Adams Express Company asserted an ownership of .the notes, and that they could not be paid until the question of ¿he rightful ownership was settled. The matter resulted in a bill of interpleader, filed by the United States in the Circuit Court for the Southern District of New York,, against both the express company and Vermilye & Co., to which they filed their…
1Opinion of the CourtJustice Miller
1. The first thing which presents itself on the facts of this case is to determine the character of the notes as it affects the law of their transferability at the time they were purchased by the appellants; for notwithstanding some testimony about the erasure of an indorsement on some of the notes, vte are of opinion that it was so skilfully done as not to attract attention with the usual care in examining such notes given by bankers.
They had the ordinary form of negotiable instruments, payable at a definite time, and that time had passed and they were unpaid. This was obvious on the face of…
2Cited by41 opinions
- Lynch v. United StatesSupreme Court of the United States · 1934
- United States v. North CarolinaSupreme Court of the United States · 1890
- Cooke v. United StatesSupreme Court of the United States · 1875
- Morgan v. United StatesSupreme Court of the United States · 1885
- Fed. Sec. L. Rep. P 90,130 Kenneth E. Newton Mlpf & S Cust. Bruce Zakheim Ira Fbo Bruce Zakheim v. Merrill, Lynch, Pierce, Fenner & Smith, Inc. Painewebber Inc. Dean Witter Reynolds. Jeffrey Phillip Kravitz v. Dean Witter Reynolds, Inc. Mlpf & S Cust. Fpo-Bruce Zakheim Ira Fbo Bruce Zakheim, Jeffrey Phillip Kravitz, and Gloria BinderCourt of Appeals for the Third Circuit · 1998
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