State Nat. Bank v. Commonwealth
Court of Appeals of Kentucky
-CASE 73. — ACTION BY THE COMMONWEALTH AGAINST THE STATE NATIONAL BANK FOR INTEREST ON DEPOSITS AS DESIGNATED DEPOSITORY FOR THE STATE. — Oct. 8. Appeal from Franklin Circuit Court. R. L. Stout, Circuit Judge.
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-CASE 73. — ACTION BY THE COMMONWEALTH AGAINST THE STATE NATIONAL BANK FOR INTEREST ON DEPOSITS AS DESIGNATED DEPOSITORY FOR THE STATE. — Oct. 8. Appeal from Franklin Circuit Court. R. L. Stout, Circuit Judge. Judgment for plaintiff, defendant appeals — POINTS AND CITATIONS. 1. Under section 4692 of the Kentucky Statutes the contract for the payment of interest by State depositories required a positive agreement between the bank and the State Treasurer and this agreement was either, (a) during mutual will; or (b) during the term of office of the Treasurer; or (c) for a period of six months.…
1Opinion of the Court
*639Opinion of the Court by
Wm. Rogers Clay, Commissioner —
Affirming.
This is an action by the Commonwealth of Kentucky against the State National Bank, as one of the State depositories, to.recover of it the sum of $3,096 alleged to be due the Commonwealth for interest at the rate of 2% per cent, per annum upon the daily balances on deposit during the first six months of the year 1900. In the year 1897 the Treasurer of the State of Kentucky designated appellant bank as one of the State depositories, and entered into an agreement with it whereby the bank promised to pay 2y2 per cent, per annum on…
2Cited by7 opinions
- Commercial Banking & Trust Co. v. Citizens Trust & Guaranty Co.Court of Appeals of Kentucky · 1913
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- City of Pocatello v. FargoIdaho Supreme Court · 1925
- Palo Alto County v. UlrichSupreme Court of Iowa · 1924
- Lusk State Bank v. Town Council of LuskWyoming Supreme Court · 1935
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