Hutchinson v. National Bank of Commerce
Supreme Court of Alabama
Appeal from Lee Chancery Court. Heard before Hon. W. W. Whiteside. This case was tried upon an agreed statement of facts, upon petition of the National Bank of Commerce to declare a trust in its favor on money in the hands of the assignees of the insolvent Shapard Bank and objections filed to the petition by the other creditors of the insolvent hank, and the assignees.
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Appeal from Lee Chancery Court. Heard before Hon. W. W. Whiteside. This case was tried upon an agreed statement of facts, upon petition of the National Bank of Commerce to declare a trust in its favor on money in the hands of the assignees of the insolvent Shapard Bank and objections filed to the petition by the other creditors of the insolvent hank, and the assignees. The agreed statement of fact is in the following words: It is agreed that on Feb. 19, 1905, the National Bank of Commerce in St. Louis, sent to the Shapard Bank, a draft oh Erwin & Co., for $572.63 with exchange bill of lading…
1Opinion of the CourtDowdell, J.
The Shapard Bank, being insolvent, made an assignment for the benefit of its creditors. This trust was being administered in the chancery court under chapter 113, §§ 4152, 4173, of the Code of 1896. The money claimed by the Bank of Commerce as being held in trust for its benefit was in the hands of the assignees of the Shapard Bank, and held and claimed by the assignees under the deed of assignment. The Bank of Commerce, in filing its petition before the register in chancery seeking a preference over the insolvent bank’s creditors, did not thereby estop itself from asserting a claim to the…
2Cases cited8 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Paul v. DraperSupreme Court of Missouri · 1900
- Evansville Bank v. German-American BankSupreme Court of the United States · 1895
- Jackson & E. Ry. Co. v. BurnsMississippi Supreme Court · 1927
- Bircher v. WaltherSupreme Court of Missouri · 1901
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3Cited by22 opinions
- Evans v. EvansSupreme Court of Alabama · 1917
- Belcher v. Birmingham Trust National BankDistrict Court, N.D. Alabama · 1968
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- Ex Parte MortonSupreme Court of Alabama · 1954
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