Commercial Bank v. Mayor
Supreme Court of Louisiana
Eastern Dist. AP.PEAL FROM THE COURT ,OF THE FIRST JUDICIAL DISTRICT. The Commercial Bank of New-Orleans claims the sum of twelve thousand five hundred dollars, from the corporation of the City of New-Orleans, being the sum advanced from the funds of the bank to pay the first instalment of interest on the corporation bonds, which were sold to the Bank of America, in New-York, to raise the amount of capital, (-half a million,) subscribed by the corporation in said bank.
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Eastern Dist. AP.PEAL FROM THE COURT ,OF THE FIRST JUDICIAL DISTRICT. The Commercial Bank of New-Orleans claims the sum of twelve thousand five hundred dollars, from the corporation of the City of New-Orleans, being the sum advanced from the funds of the bank to pay the first instalment of interest on the corporation bonds, which were sold to the Bank of America, in New-York, to raise the amount of capital, (-half a million,) subscribed by the corporation in said bank. The first instalment of interest on these bonds became due and was paid by the bank in New-York, the 20th December, 1833.…
1Opinion of the CourtMathews, J.
This is a suit brought to recover from the defendants a certain sum of money which the plaintiffs allege they paid for their use and benefit. Judgment was rendered for the defendants, from which the plaintiffs appealed.'
The facts of the case show, that the defendants, in pursuance of a privilege granted by the charter of the bank, subscribed for, and became stockholders in its capital to the amount of five hundred thousand dollars, to be paid by bonds bearing an interest of not more than five per cent, per annum. These bonds were made payable to the bank, and were negociated and sold by the…
2Cited by1 opinion
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