Callanan v. . Edwards

This action is of a novel character. The plaintiff is a judgment debtor of the Rational Bank of Albany, and the defendant, in interest, the Manufacturers’ Bank of Troy. The subject of controversy respects the disposition to be made of the sum of $250, unpaid upon a certificate issued by the Rational Bank in March, 1860, on the reduction of the defendant Clough’s stock therein, by which the bank agreed to pay the latter $1,0005 twenty-five per cent thereof on the 1st July, 1860, and the residue at such time or times as the directors of the bank should direct. The plaintiff’s claim is, that in…