Meredith Village Savings Bank v. Marshall
Supreme Court of New Hampshire
Assumpsit, to recover dividends on bank stock pledged to tbe plaintiffs. Facts found by the court. Henry J. Crippen, who-died in December, 1898, and of whose estate the defendant is the administrator, was a member of the firm of Crippen, Lawrence & Co. In July, 1893, Crippen, being the owner of fifty shares of the stock of the Farmers’ National Bank of Salina, Kan., legally pledged the same as collateral security for an indebtedness of Crippen, Lawrence & Co. to the…
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Assumpsit, to recover dividends on bank stock pledged to tbe plaintiffs. Facts found by the court. Henry J. Crippen, who-died in December, 1898, and of whose estate the defendant is the administrator, was a member of the firm of Crippen, Lawrence & Co. In July, 1893, Crippen, being the owner of fifty shares of the stock of the Farmers’ National Bank of Salina, Kan., legally pledged the same as collateral security for an indebtedness of Crippen, Lawrence & Co. to the plaintiffs, who-have ever since held the same as such collateral. There was no transfer of the stock to the plaintiffs entered…
1Opinion of the CourtWallace, J.
The transfer by Crippen of his shares of stock in the Farmers’ National Bank to the plaintiffs as a pledge to secure the indebtedness of Crippen, Lawrence & Co., was valid as between the parties, although without registration on the books of the Farmers’ National Bank, and without the knowledge of the officers of that bank. It passed Crippen’s legal and equitable title to the shares of stock to the plaintiffs. Scripture v. Soapstone Co., 50 N. H. 571, 585; Buttrick v. Railroad, 62. N. H. 413; P. S., c. 149, s. 14. As Crippen’s administrator had no greater rights than he had, the question of…
2Cases cited2 opinions
- Merchants' National Bank v. RichardsMissouri Court of Appeals · 1879
- Gaty v. HollidayMissouri Court of Appeals · 1879
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