City of St. Louis v. Manufacturers' Savings Bank
Supreme Court of Missouri
Jlppeal from St. Louis Criminal Court. I.By the charter from the State the appellant, among other franchises, obtained the right to transact its business of banking in the city of St. Louis, and has thus a license from the State for that purpose.
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Jlppeal from St. Louis Criminal Court. I.By the charter from the State the appellant, among other franchises, obtained the right to transact its business of banking in the city of St. Louis, and has thus a license from the State for that purpose. The city of St. Louis cannot exact a license fee or prevent the transaction of the business of the corporation without impairing the obligation of the contract made by the State. 1. The charter granted by the State to the Accommodation Bank is a contract which is inviolable, and which requires no money consideration to support it. (Home of the…
1Opinion of the CourtWagner, Judge
In pursuance of authority granted to it in its charter, the city of St. Louis passed an ordinance providing that no person or association, coi'poration, or savings institution, should carry on the business of dealing in, buying or selling or discounting any kind of bills of exchange, checks, drafts, hank or promissory notes, etc., without a license for that purpose continuing in force.
*577The license required by the ordinance was to be issued to any person applying for the same, at the rate of $200 per year, and for every violation of the ordinance the party guilty was subjected to a fine of…
2Cases cited1 opinion
- City of St. Louis v. Boatmen's Insurance & Trust Co.Supreme Court of Missouri · 1870
3Cited by3 opinions
- City of St. Louis v. SternbergSupreme Court of Missouri · 1879
- City of Wyandotte v. CorriganSupreme Court of Kansas · 1886
- Northern Pacific Railroad v. BarnesNorth Dakota Supreme Court · 1892