Thomas v. Marine Bank & Trust Co.

On Rehearing.

By the WHOLE COURT.

O’NIELL, O. J.,

We have concluded that, inasmuch as the judgment that was rendered in this case is well founded upon the' fact that the resolution on which the officers of the People’s Bank acted in pledging the bank’s credits to the Marine Bank was confined to the securing of loans made in virtue of the resolution, the pronouncement made in the opinion handed down by a section of the court that the transaction would have been contrary to public policy if it had been authorized by the resolution of the board of directors was not necessary for a decision of the…