Rome Savings Bank v. . Krug
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the fourth judicial department, entered upon an order made April 5, 1884, which affirmed a judgment in favor of plaintiff, entered upon a verdict. (Reported below, 32 Hun, 270.) The nature of the action and the material facts are stated in the opinion.
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Appeal from judgment of the General Term of the Supreme Court in the fourth judicial department, entered upon an order made April 5, 1884, which affirmed a judgment in favor of plaintiff, entered upon a verdict. (Reported below, 32 Hun, 270.) The nature of the action and the material facts are stated in the opinion. By the act creating the plaintiff and the amendment thereto, the plaintiff was not authorized to loan any of the money deposited with it upon the promissory notes of individuals, and was prohibited by law from making such loans ; therefore the two notes in exchange for which the…
1Opinion of the CourtEarl, J.
The plaintiff is a savings bank organized under the act chapter 324 of the Laws of 1851, by which it was empowered to receive on deposit money and invest the same in securities or stocks of this State or of the United States, or -in the stock or bonds of any city authorized to be issued by the legislature, or in such other manner as was authorized by the act. The act further provided that no money deposited in the bank should be invested except in the securities or stocks mentioned in opposition to the vote of any trustees, but that by the consent and approbation of all the trustees present…
2Cases cited1 opinion
- N.Y. State Loan and Trust Co. v. . HelmerNew York Court of Appeals · 1879
3Cited by5 opinions
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- United States Title Guaranty Co. v. BrownAppellate Division of the Supreme Court of the State of New York · 1915
- Marine Midland Bank-Eastern National Ass'n v. Prel-Albany, Inc.Appellate Division of the Supreme Court of the State of New York · 1975
- Taylor v. Empire State Savings Bank of BuffaloNew York Supreme Court · 1893
- Winegard v. FanningNew York Supreme Court · 1894