Briggs v. Spaulding
Supreme Court of the United States
APPEAL FROM. THE CIRCUIT COURT OF THE UNITED STATES FOB THE NORTHERN DISTRICT OF NEW YORK. The case was stated by the court as follows : Smith (subsequently- succeeded by Hadley, Hadley by Movius, and Movius by Briggs) exhibited his bill, as receiver of the First National Bank of Buffalo, in the Circuit Court of the United States for the Northern District of New York, on the 4th of May, 1883, against Reuben Porter Lee, Francis E. Coit, Elbridgé (L Spaulding, William H.…
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APPEAL FROM. THE CIRCUIT COURT OF THE UNITED STATES FOB THE NORTHERN DISTRICT OF NEW YORK. The case was stated by the court as follows : Smith (subsequently- succeeded by Hadley, Hadley by Movius, and Movius by Briggs) exhibited his bill, as receiver of the First National Bank of Buffalo, in the Circuit Court of the United States for the Northern District of New York, on the 4th of May, 1883, against Reuben Porter Lee, Francis E. Coit, Elbridgé (L Spaulding, William H. Johnson and Thomas. W. Cushing, as directors of that bank, and Anne Nought as executrix of John H. Nought, and Frank S.,Coit…
1Opinion of the CourtChief Justice Fuller
In the language of appellant’s counsel, the bill was framed upon'the theory of a breach by the defendants as directors “of their common law duties as trustees of a.financial corporation and of breaches of special restrictions and obligations of the national banking act.”
And it is claimed that the deféndants should have been held liable for the losses which occurred through loans of the bank’s cfunds and moneys during their term of office as directors, to Lee, his father, his wife and certain designated persons, which were the principal losses, though there were others smaller in amount , for…
2Cases cited18 opinions
- Railroad Co. v. LockwoodSupreme Court of the United States · 1873
- Martin v. WebbSupreme Court of the United States · 1884
- Hun v. . CaryNew York Court of Appeals · 1880
- Village of Port Jervis v. . First National B'k.New York Court of Appeals · 1884
- Whitney v. ButlerSupreme Court of the United States · 1886
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3Cited by305 opinions
- Atherton v. Federal Deposit Insurance Corp.Supreme Court of the United States · 1997
- Reno v. . BullNew York Court of Appeals · 1919
- Alexander v. HillmanSupreme Court of the United States · 1935
- Zubik v. ZubikCourt of Appeals for the Third Circuit · 1967
- Yates v. Jones National BankSupreme Court of the United States · 1907
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