Wolf v. American Trust & Savings Bank
Court of Appeals for the Seventh Circuit
Appeal, from the District Court of the United States for the Eastern Division of the Northern District of Illinois; Kenesaw M. Dandis, Judge. Suit by Charles C. Wolf against the American Trust & Savings Bank and others to redeem certain collaterals. From a decree denying complainant’s right to redeem said collaterals on paying the amount of the pledged indebtedness to defendants, plaintiff appeals.
1Opinion of the Court
BAKER, Circuit Judge.
Appellant, cashier of a bank in Iowa, was dealing on the Chicago Board of Trade through Prince, a Chicago broker. Prince, unable or unwilling to furnish the cash required for appellant’s speculations, demanded securities. Appellant placed a certificate of deposit for $24,000 and three certificates evidencing his ownership of 46 shares of the capital of his bank in the hands of Prince with authority to repledge them to the extent of his indebtedness to Prince. Appellee, bank, having no actual notice of any limitations on Prince’s authority, loaned Prince about $40,000 on…
2Cases cited41 opinions
- McNeil v. . the Tenth National BankNew York Court of Appeals · 1871
- Kempner v. HuddlestonTexas Supreme Court · 1896
- Wilson v. . LittleNew York Court of Appeals · 1849
- Brewster v. HartleyCalifornia Supreme Court · 1869
- Furber v. DaneMassachusetts Supreme Judicial Court · 1909
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3Cited by6 opinions
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- Howison v. Mechanics Savings BankSupreme Court of New Hampshire · 1936
- Krieg v. Palmer National BankIndiana Court of Appeals · 1916
- Snyder v. Eagle Fruit Co.Court of Appeals for the Eighth Circuit · 1935
- Haas v. HaasCourt of Chancery of Delaware · 1956
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