Cogswell v. Second National Bank
Supreme Court of Connecticut
Appjsals from an order and decree of the Superior Court in New London County, Gager, J., in receivership proceedings, distributing the cash proceeds of certain assets of a national hank which had been charged off upon a reduction of its capital stock.
1Opinion of the CourtBaldwin, J.
This appeal respects the disposition of the special fund to which reference was made in Cogswell v. Second Nat. Bank, 76 Conn. 252, 255, 261. It was held in that case that if that fund had been, as alleged, set apart by direction of the comptroller of the currency for the benefit of those who were shareholders of the bank at the time when its capital was reduced, a valid trust in their favor was thus created.
The facts attending the transaction have now been fully fouud by the Superior Court.
The directors having voted to recommend a reduction of the capital stock of the bank from $300,000 to…
2Cases cited6 opinions
- Smith v. DanaSupreme Court of Connecticut · 1905
- Strong v. . Brooklyn Cross-Town R.R. Co.New York Court of Appeals · 1883
- Cogswell v. Second National BankSupreme Court of Connecticut · 1903
- Seeley v. New York National Exchange BankNew York Court of Common Pleas · 1878
- Wheeler Beers v. Bridgeport Spring Co.Supreme Court of Connecticut · 1875
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3Cited by20 opinions
- Ford v. SnookAppellate Division of the Supreme Court of the State of New York · 1923
- Richter & Co. v. LightSupreme Court of Connecticut · 1922
- Union & New Haven Trust Co. v. WatrousSupreme Court of Connecticut · 1929
- Jerome v. CogswellSupreme Court of the United States · 1907
- Wilmington Trust Co. v. Wilmington Trust Co.Court of Chancery of Delaware · 1940
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