Commonwealth v. Emigrant Industrial Savings Bank
Massachusetts Supreme Judicial Court
Bill of interpleader filed by the attorney general, pursuant to c. 19 of the Resolves of 1866,* against the Emigrant Industrial Savings Bank, a corporation under the laws of New York, and William S. Houghton, for the purpose of determining whether five bonds of the Commonwealth, for one thousand dollars each, dated October 1, 1861, and issued by virtue of the St. of 1861, c. 216, had not been made void, as against the Common wealth, by reason of a material alteration…
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Bill of interpleader filed by the attorney general, pursuant to c. 19 of the Resolves of 1866,* against the Emigrant Industrial Savings Bank, a corporation under the laws of New York, and William S. Houghton, for the purpose of determining whether five bonds of the Commonwealth, for one thousand dollars each, dated October 1, 1861, and issued by virtue of the St. of 1861, c. 216, had not been made void, as against the Common wealth, by reason of a material alteration thereof; and, if not, then what were the respective rights of the respondents in and to the same, in the manner provided by the…
1Opinion of the CourtHoar, J.
This case is one of great practical importance, and presents a question of much interest to the owners of a species of securities in which very large amounts of property are invested. Both parties have strong claims to the consideration of the court, and come before us with equities which make a decision against either painful. We have in effect to decide which of two innocent parties shall suffer a considerable loss; and their rights are found to depend upon the application of principles in a manner which may lead to very important consequences.
Upon the evidence reported, we have no…
2Cases cited2 opinions
- Maxwell v. MaxwellCourt of Appeals of Kentucky · 1860
- Homer v. WallisMassachusetts Supreme Judicial Court · 1814
3Cited by15 opinions
- Spooner v. HolmesMassachusetts Supreme Judicial Court · 1869
- Cambridge Savings Bank v. HydeMassachusetts Supreme Judicial Court · 1881
- Lee v. ButlerMassachusetts Supreme Judicial Court · 1897
- Merritt v. A. W. Boyden & SonIllinois Supreme Court · 1901
- State ex rel. Plock & Co. v. CobbSupreme Court of Alabama · 1879
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