Gillet v. . Moody
New York Court of Appeals
The St. Lawrence Bank was organized in the year 1838, under the general banking law of that year, and commenced business early in 1839, at Ogdensburgh, in the' county of St. Lawrence. In the winter of 1841-2, the bank commissioners filed a bill and obtained an injunction against the institution.
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The St. Lawrence Bank was organized in the year 1838, under the general banking law of that year, and commenced business early in 1839, at Ogdensburgh, in the' county of St. Lawrence. In the winter of 1841-2, the bank commissioners filed a bill and obtained an injunction against the institution. In February, 1843, Mr. Gillet was appointed receiver of the effects of the banks by an order of the chancellor made in that suit, and in October of the same year, he filed the bill in this cause for the purpose of annulling an agreement made between the directors and the defendant, in February, 1842,…
1Opinion of the Court
Bronson, Ch. J.
The bank was in a sickly condition early in the year 1841, and was only kept up by pledges of the individual credit of the directors to raise funds. In March of that year, the agents of the bank in Albany ceased for several weeks to redeem its circulating notes; and on the third day of December following, the bank formally suspended specie payments, and never afterwards transacted any regular banking business. On the same day all the funds of the. bank were assigned to Egbert N. Fairchild, the cashier, to secure and indemnify the directors against the personal liability which…
2Cases cited3 opinions
- Warner & Ray v. BeersCourt for the Trial of Impeachments and Correction of Errors · 1840
- Gifford v. LivingstonNew York Supreme Court · 1845
- Gillett v. CampbellCourt for the Trial of Impeachments and Correction of Errors · 1845
3Cited by19 opinions
- McCandless v. FurlaudSupreme Court of the United States · 1935
- Ardmore Nat. Bank v. Briggs MacHinery & Supply Co.Supreme Court of Oklahoma · 1908
- Pittsburg Carbon Co. v. McMillinNew York Court of Appeals · 1890
- Cockrill v. AbelesCourt of Appeals for the Eighth Circuit · 1898
- Stone v. DodgeMichigan Supreme Court · 1893
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