In re Majority of the Directors of Murray Hill Bank
Appellate Division of the Supreme Court of the State of New York
Appeal by Spencer Trask and another, as receivers of the Murray Hill Bank, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on- the 25th day of September, 1896, denying their motion to compel the State Superintendent of Banks to deliver to them, as; such receivers, the books, papers and assets of the bank, or for a peremptory writ of mandamus to compel such delivery, and to restrain said…
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Appeal by Spencer Trask and another, as receivers of the Murray Hill Bank, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on- the 25th day of September, 1896, denying their motion to compel the State Superintendent of Banks to deliver to them, as; such receivers, the books, papers and assets of the bank, or for a peremptory writ of mandamus to compel such delivery, and to restrain said Superintendent of Banks from turning such books and papers and assets over to any other person. The facts are fully stated…
1Dissent
Williams, J.:
The facts are undisputed and are as follows: August 11, 1896, the Bank Superintendent, having examined the affairs of the bank, arrived at the conclusion, not only that there had been an impairment of the capital and that the bank was in an unsafe and unsound condition to do banking business, but that it was insolvent, its liabilities exceeding its assets by more than §230,000, and it had closed its doors, and suspended its ordinary and lawful business. Thereupon the Bank Superintendent on that day took possession of the property and business of the bank under the provisions of…
2Cases cited1 opinion
- People ex rel. Standard Gaslight Co. v. DalyNew York Supreme Court · 1894