American Can Co. v. Williams
Court of Appeals for the Second Circuit
In Error to the Circuit Court of the United States for the Western District of New York. Action by the American Can Company against Christopher U. Williams, as receiver of tlie Fredonia National Bank. Judgment for plaintiff for less than the relief demanded (176 Fed. 816), and plaintiff brings error. The plaintiff is a manufacturing corporation organized under the laws of tlie state of New Jersey and doing business in the state of New York and elsewhere.
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In Error to the Circuit Court of the United States for the Western District of New York. Action by the American Can Company against Christopher U. Williams, as receiver of tlie Fredonia National Bank. Judgment for plaintiff for less than the relief demanded (176 Fed. 816), and plaintiff brings error. The plaintiff is a manufacturing corporation organized under the laws of tlie state of New Jersey and doing business in the state of New York and elsewhere. The defendant is the receiver, appointed by the Comptroller of the Currency, of the Fredonia National Bank, which, prior to June 19, 1905,…
1Opinion of the CourtNoyes, Circuit Judge
(after stating the facts as above). The relation of cestui que trust and trustee undoubtedly existed between the plaintiff and the Eredonia Bank. The bank violated every ditty which it owed the plaintiff. The proceeds of the plaintiff’s drafts held by it or its agents constituted trust funds which might be followed into the hands of the receiver if they could be traced.
There is no difficulty in following the proceeds of the first class of drafts. The moneys ($1,016.72) which,the Lake Shore Bank received were impressed with a trust in favor of the plaintiff, and when they were paid over to the…
2Cases cited5 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Peters v. BainSupreme Court of the United States · 1890
- Board of Com'rs v. StrawnCourt of Appeals for the Sixth Circuit · 1907
- Frelinghuysen v. NugentU.S. Circuit Court for the District of New Jersey · 1888
- Beard v. Independent Dist. of Pella CityCourt of Appeals for the Eighth Circuit · 1898
3Cited by39 opinions
- Empire State Surety Co. v. Carroll CountyCourt of Appeals for the Eighth Circuit · 1912
- St. Louis & San Francisco Railroad v. SpillerSupreme Court of the United States · 1927
- Larabee Flour Mills v. First Nat. Bank of HenryettaCourt of Appeals for the Eighth Circuit · 1926
- Schumacher v. HarriettCourt of Appeals for the Fourth Circuit · 1931
- Ellerbe v. Studebaker Corporation of AmericaCourt of Appeals for the Fourth Circuit · 1927
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