Lewis v. Lynn Institution for Savings
Massachusetts Supreme Judicial Court
Conteact, by the administrator of the estate of Mary Lewis, to recover the balance of a deposit made by her with the defendant. At the trial in the Superior Court, before Lathrop, J., the facts appeared in evidence, or were agreed, as follows : The defendant was a savings bank duly chartered by the laws of the Commonwealth, and authorized to receive deposits and invest the same.
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Conteact, by the administrator of the estate of Mary Lewis, to recover the balance of a deposit made by her with the defendant. At the trial in the Superior Court, before Lathrop, J., the facts appeared in evidence, or were agreed, as follows : The defendant was a savings bank duly chartered by the laws of the Commonwealth, and authorized to receive deposits and invest the same. In the years 1836 and 1837, while the plaintiff’s intestate was a depositor with the defendant, it met with losses in investments made in stock of the hi ah ant Bank and the Oriental Bank, which investments were made…
1Opinion of the CourtC. Allen, J.
This case is certainly quite remarkable in its facts. More than fifty years ago the defendant savings bank closed upon the books the account of a female depositor, by paying to her attorney the balance found to be due after making a deduction of five per cent for losses sustained on its investments ; and the present action is brought by the administrator of her estate to recover the amount so deducted, with interest. The case calls upon us to look into the nature of the contract made by the savings bank with the depositors, under the system which then existed, and which has always prevailed…
2Cases cited4 opinions
- Reed v. Home Savings BankMassachusetts Supreme Judicial Court · 1881
- Huntington v. Savings BankSupreme Court of the United States · 1878
- Osborn v. ByrneSupreme Court of Connecticut · 1875
- Bunnell v. Collinsville Savings SocietySupreme Court of Connecticut · 1871
3Cited by20 opinions
- Campbell v. WhoriskeyMassachusetts Supreme Judicial Court · 1898
- Greenfield Savings Bank v. AbercrombieMassachusetts Supreme Judicial Court · 1912
- Andover Savings Bank v. Commissioner of RevenueMassachusetts Supreme Judicial Court · 1982
- Forastiere v. Springfield Institution For SavingsMassachusetts Supreme Judicial Court · 1939
- Institution for Savings in Roxbury & its Vicinity v. Roxbury Home for Aged WomenMassachusetts Supreme Judicial Court · 1923
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