Birmingham Trust & Savings Co. v. Louisiana National Bank
Supreme Court of Alabama
Appeal from the Chancery Court of Jefferson. Heard before the Hon. Thomas Cobbs. The bill in this case was filed on January 8, 1892, by the Louisiana National Bank against the Birmingham Trust & Savings Company, and W. 0. Ward, as administrator of the estate of John B. Boddie, deceased.
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Appeal from the Chancery Court of Jefferson. Heard before the Hon. Thomas Cobbs. The bill in this case was filed on January 8, 1892, by the Louisiana National Bank against the Birmingham Trust & Savings Company, and W. 0. Ward, as administrator of the estate of John B. Boddie, deceased. On April 25, 1889,John B. Boddie, a resident of Birmingham, Alabama, borrowed $25,000, from the Louisiana National Bank, a corporation regularly organized under the National Banking laws, and having its place of residence in ! New Orleans, Louisiana, and executed his note, payable six months after date, to…
1Opinion of the CourtStone, C. J.
The controlling, if not the sole inquiry in this case is, whether the Birmingham Trust & Savings Company, has a lien on the shares of its capital stock, the subject-matter of controversy, to secure the payment of the debts contracted with it by Boddie, the original holder and owner of the stock. The certificates were issued to him, and he remains registered as owner and holder on the books of the company. The question is, will the asserted lien prevail over his prior pledge of the stock to the appellee, to *384secure the payment of' a debt contracted on the faith of the pledge ?
The common law…
2Cases cited10 opinions
- Merchants' Bank v. State BankSupreme Court of the United States · 1871
- Case v. BankSupreme Court of the United States · 1880
- Duke v. Cahawba Navigation Co.Supreme Court of Alabama · 1846
- Planters' & Merchants' Mutual Insurance v. Selma Savings BankSupreme Court of Alabama · 1879
- Campbell v. Woodstock Iron Co.Supreme Court of Alabama · 1887
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3Cited by17 opinions
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- City of Birmingham v. MullerSupreme Court of Alabama · 1916
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