Bletz v. Columbia National Bank
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Lancaster county: Of May Term 1877. No. 193. This was an action of debt brought by Frederick S. Bletz against the Columbia National Bank, to recover from it $6678.66, together with interest from December '3d 1873. This amount of $6678.66 was double the amount of interest or discount paid by Bletz to the bank on one hundred and sixty-five notes discounted for him within two years prior to the bringing of this suit, each and every of said…
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Error to the Court of Common Pleas of Lancaster county: Of May Term 1877. No. 193. This was an action of debt brought by Frederick S. Bletz against the Columbia National Bank, to recover from it $6678.66, together with interest from December '3d 1873. This amount of $6678.66 was double the amount of interest or discount paid by Bletz to the bank on one hundred and sixty-five notes discounted for him within two years prior to the bringing of this suit, each and every of said discounts being at a higher rate per annum than six per cent, namely at the rate of from seven and a half to twelve per…
1Opinion of the CourtChief Justice Agnew
The question before us is, whether a state court has jurisdiction in “ an action of debt” (in the language of the National Bank Act) “ to recover back twice the amount of the interest thus paid, from the association taking or receiving the same;” that is to say, when illegal interest is taken contrary to its provisions. The 30th section of the Act of Congress of June 3d 1864, allows national banks to charge and take interest at the rate allowed by the laws of the state where they are located, and no more, and then proceeds: “ And the knowingly taking, receiving, reserving or charging a rate…
2Cases cited4 opinions
- Houston v. MooreSupreme Court of the United States · 1820
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- United States v. LathropNew York Supreme Court · 1819
- White v. CommonwealthSupreme Court of Pennsylvania · 1812
3Cited by9 opinions
- Missouri, K. & T. Ry. Co. v. LenahanSupreme Court of Oklahoma · 1913
- Bradbury v. Chicago, Rock Island & Pacific Railway Co.Supreme Court of Iowa · 1910
- St. Louis, Iron Mountain & Southern Railway Co. v. HesterlySupreme Court of Arkansas · 1911
- McCormick v. SmithIdaho Supreme Court · 1913
- United States v. Schofield Co.Supreme Court of Pennsylvania · 1913
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