Scofield v. State National Bank
Nebraska Supreme Court
Error to the district court for Otoe county. Tried below before Gaslin, J., sitting in that county. The ease is fully stated in the opinion. 1. Corporations have only such powers as are specially given by their charters, and national banks have no power to take deeds of trust or mortgages on real estate as security, and have no power not conferred by Congress. An injunction will be granted to prevent a sale by the bank of such mortgaged property.
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Error to the district court for Otoe county. Tried below before Gaslin, J., sitting in that county. The ease is fully stated in the opinion. 1. Corporations have only such powers as are specially given by their charters, and national banks have no power to take deeds of trust or mortgages on real estate as security, and have no power not conferred by Congress. An injunction will be granted to prevent a sale by the bank of such mortgaged property. Matthews v. Shinker, 62 Mo., 329. Beaty v. Knowles, 4 Pet., 152. Wiley v. First Nat’l Bank Brattleboro, 47 Yt., 552. Fowler v. Scully, 72 Penn.…
1Opinion of the Court
Maxwell, Oh. J.
In the year 1878, the plaintiffs filed their petition in the district court of Otoe county, setting forth in substance, that on or about the 5th day of August, 1871, Gilbert B. Scofield executed to the State Bank of Nebraska a promissory note for the sum of $600, due January 1, 1872, and to secure the payment of the same himself and wife executed a mortgage upon certain real estate in Nebraska City. That on the 16th day of November, 1871, said state bank was organized as a national bank, under the provisions of the act of Congress, approved J une 3,1864, and the amendments…
2Cited by9 opinions
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