Fogg v. Bank of Friar's Point
Mississippi Supreme Court
From the chancery court of, second district, Coahoma county. Hon. A. McO. Kimbrough, Chancellor. Fogg, appellant, was complainant in the court below; the Bank of Friar’s Point and others, including one Iiebdon, its assignee-receiver, appellees, were defendants there.
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From the chancery court of, second district, Coahoma county. Hon. A. McO. Kimbrough, Chancellor. Fogg, appellant, was complainant in the court below; the Bank of Friar’s Point and others, including one Iiebdon, its assignee-receiver, appellees, were defendants there. The section of the code involved is as follows: “3077. Public moneys are trust funds. — All money deposited in bank, or with any other depository, by or for a tax collector, or other officer having the custody of public funds, state, county, municipal, or levee board, whether the same be deposited in the name of the officer as an…
1Opinion of the CourtTerral, J.
In this case it is not possible for tax collector Fogg to put his finger upon any particular asset of the Bank of Friar’s Point, now in the receiver’s hands, and say, “This is my deposit or the product of my deposit,” but it is quite certain that the moneys deposited by Fogg in the bank are in their transmuted form in the hands of the receiver, Ilebdon. The moneys of the tax collector were intermingled with the other moneys of the bank, and in consequence of the confusion a right to a particular individual asset cannot be asserted; yet a priority of payment out of the mass of assets arises to…
2Cases cited1 opinion
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
3Cited by13 opinions
- Potter v. Fidelity & Deposit Co.Mississippi Supreme Court · 1911
- Powell v. Board of SupervisorsMississippi Supreme Court · 1914
- United States Fidelity & Guaranty Co. v. Village of BassfieldMississippi Supreme Court · 1927
- Pinal County v. HammonsArizona Supreme Court · 1926
- Green v. ColeMississippi Supreme Court · 1910
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