Rankin v. Chase National Bank
Supreme Court of the United States
ERROR TO THE OIECUIT COURT OE APPEALS POE THE SECOND CIRCUIT. ON the 23d day of May, 1893, the Elmira National Bank of Elmira, New York, failed, and a receiver 'was shortly thereafter appointed. At the date of the failure, on the face of the ledger of the Chase National Bank of New York city, there was a balance to the credit of the Elmira bank which was paid with interest at six per cent, as previously agreed on.
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ERROR TO THE OIECUIT COURT OE APPEALS POE THE SECOND CIRCUIT. ON the 23d day of May, 1893, the Elmira National Bank of Elmira, New York, failed, and a receiver 'was shortly thereafter appointed. At the date of the failure, on the face of the ledger of the Chase National Bank of New York city, there was a balance to the credit of the Elmira bank which was paid with interest at six per cent, as previously agreed on. The receiver, at the time of this payment, asserted that he wais entitled to a larger sum. This being disputed by the -Chase bank, the present suit was brought. In substance the…
1Opinion of the CourtJustice White
1st. The illegality of the check for $15,012.50 and the wrong resulting from charging it to the account of the Elmira bank is not open to controversy. The ruling to that effect on the first trial seems to have been acquiesced in by the Chase bank, since it prosecuted no writ of error, and' this is also true of the case now before us. Besides, no exception was saved by the Chase bank at the trial now under review to the instruction of the court concerning the illegality of the check and its insufficiency as a charge against the funds of the Elmira bank on deposit with the Chase bank. That…
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