French v. O'Brien
New York Supreme Court
This action is brought by the plaintiff as receiver of the People’s Savings Bank of the city of New York. Prior to the 3d day of November, 1875, the People’s Savings Bank was the owner and holder and in the possession of a certain bond and mortgage made by one John Grarvey, dated on or about the 18tli day of September, 1871, for the sum of $25,000. There was due thereon on November 3d, 1875, accrued interest to the amount of $210.96. Said mortgage was upon a certain lot…
Read the full summary
This action is brought by the plaintiff as receiver of the People’s Savings Bank of the city of New York. Prior to the 3d day of November, 1875, the People’s Savings Bank was the owner and holder and in the possession of a certain bond and mortgage made by one John Grarvey, dated on or about the 18tli day of September, 1871, for the sum of $25,000. There was due thereon on November 3d, 1875, accrued interest to the amount of $210.96. Said mortgage was upon a certain lot situated on the south side of Fiftieth street, between Fifth avenue and Madison avenue, in the city of New York. The…
1Opinion of the CourtLawrence, J.
Having given to the testimony in this case and to the very able briefs, filed by the learned counsel, the fullest consideration in my power, I have reached the following conclusions:
First. That the resolution of September 29th, 1873, was not valid, for the reason, that in substance and effect it was an alteration of the by-laws of the bank, enlarging the general power and duties of the president, substituting his discretion and judgment for the discretion and judgment of the trustees and of the finance committee, and that such by-laws could only be amended after giving the notice and taking…
2Cases cited4 opinions
- Weaver v. . BardenNew York Court of Appeals · 1872
- Smith v. . TracyNew York Court of Appeals · 1867
- Ex parte EamesU.S. Circuit Court for the District of Massachusetts · 1842
- Martin v. KunzmullerNew York Court of Appeals · 1867
3Cited by2 opinions
- Edwards v. Carson Water Co.Nevada Supreme Court · 1893
- Rice v. City of ColumbiaSupreme Court of South Carolina · 1928