Boone County Nat. Bank v. Latimer
U.S. Circuit Court for the District of Western Missouri
Bill in equity brought by the Boone County National Bank against W. A. Latimer, receiver of the First National Bank of Medalla, and the First National Bank of Sedalia. This is a bill in equity to have claims of the complainant bank against the respondent bank declared a trust fund, and for preference in the distribution of the assets in the hands of the receiver.
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Bill in equity brought by the Boone County National Bank against W. A. Latimer, receiver of the First National Bank of Medalla, and the First National Bank of Sedalia. This is a bill in equity to have claims of the complainant bank against the respondent bank declared a trust fund, and for preference in the distribution of the assets in the hands of the receiver. The case is submitted upon an agreed statement of facts, which is substantially as follows; (1) The complainant, on March 30, 1894, sent to the First National Bank of Sedalia, Mo., for collection and remittance, a note it held…
1Opinion of the CourtPhilips, District Judge
(after stating the facts). It is not deemed important, even if the time were at my command, to enter into a review of the multitude of authorities bearing upon the vexed question discussed by counsel, as to the right of, preference in the complainant. By the agreed statement of facts, the Sedalia bank was constituted by the Boone county bank its agent solely for the collection of the notes, and to remit the proceeds when collected to the principal. No authority was given to the agent to place such proceeds in its bank to the credit of the principal, so as to establish between them the…
2Cases cited3 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Peters v. BainSupreme Court of the United States · 1890
- Frelinghuysen v. NugentU.S. Circuit Court for the District of New Jersey · 1888
3Cited by23 opinions
- Board of Com'rs v. StrawnCourt of Appeals for the Sixth Circuit · 1907
- City Bank of Hopkinsville v. BlackmoreCourt of Appeals for the Sixth Circuit · 1896
- John Deere Plow Co. v. McDavidCourt of Appeals for the Eighth Circuit · 1905
- Larabee Flour Mills v. First Nat. Bank of HenryettaCourt of Appeals for the Eighth Circuit · 1926
- Whitcomb v. CarpenterSupreme Court of Iowa · 1907
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