McLeod v. Fourth Nat. Bank of St. Louis
U.S. Circuit Court for the District of Eastern Missouri
At Law. The petition states, in substance, that the firm of Norvell, Can-field & Co. pledged cotton notes for 1,200 merchantable bales of cotton, belonging to them, to the defendant, and afterwards, without the defendant’s knowledge, got possession of the cotton and had it rebaled, • so as to make three new bales out of two of the old ones, and returned 1,200 of the rebaled bales and retained the balance; that thereafter the defendant discovered the manner in which the…
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At Law. The petition states, in substance, that the firm of Norvell, Can-field & Co. pledged cotton notes for 1,200 merchantable bales of cotton, belonging to them, to the defendant, and afterwards, without the defendant’s knowledge, got possession of the cotton and had it rebaled, • so as to make three new bales out of two of the old ones, and returned 1,200 of the rebaled bales and retained the balance; that thereafter the defendant discovered the manner in which the cotton had been manipulated, and that it was in consequence not good security for the loan, and immediately demanded that…
1Opinion of the Court
Treat, J.,
(charging jury.) There seems to be no dispute as to many of the facts in this case. The cotton in question went forward to the plaintiffs under the bill of lading and hypothecation, on which the plaintiffs had a right to rely. It also appears that the statements as to weights contained in the bill of lading were false, whereby a loss to the plaintiffs occurred, as stated in the petition. Who is responsible therefor? Unquestionably, Norvell, Canfield & Co. But is the defendant liable? It seems that the defendant had advanced on cotton notes pledged to it a sum of money, and intrusted…
2Cases cited18 opinions
- Clark v. BarnwellSupreme Court of the United States · 1852
- Vandewater v. MillsSupreme Court of the United States · 1857
- Pollard v. VintonSupreme Court of the United States · 1882
- Schooner Freeman, &C. v. BuckinghamSupreme Court of the United States · 1856
- State ex rel. Blakeman v. HaysSupreme Court of Missouri · 1873
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