The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1849-04-04
Supreme Court OF Louisiana.


Under the of 1912 and s43 providing for the quda
ton of the banking corporations whose charters had
been forfeited. though forfeiture had been judcally
decreed debtor Of such corporations has legally right
to give in payment by way of compensation. the obi
cations of such banks without reference the date
which they may have been acquired.
L. SAUNDERS, EFT AL. u.s. MARY L. SMITH, ADJ
.SepenM judicial District Court, Parish of East
Fel,c,ana. d. .EUsTIs, C. ]. i. Per curiam This
suit is brought on stock note subscribed by Cas-
well Smith in favor of the cashier of the Clinton
and Port Hudson Railroad Company on the -
day of February 1910 payable eighteen months after
date. Previous to the institution of this suit the
| defendant had rendered in payment, by way of
compensation, a bond Of said company which was
then due, and ten PER cent in gold and silver which
was received by the Commissioners, but the bond
was refused. The amount received was credited
on the note. The District Judge decreed the COM
pensation to have taken place pleaded in the de-
tendant's answer and gave judgment, and the liqu-
dator, who succeeded the plaintiffs in Office, has
appealed.
The Legislature having, by its acts of 1912 and
ls43, provided for the liquidation of the banking
corporations of the State whose charters had been
forfeited, though no forfeiture had been judcially
decreed, established certain rules upon which the
Commissioners should proceed in efecting the liuui-
dalton. One was that the debtors to a bank might
give in payment the obligations of such bank with
out reference to the date at which the debtor may
have acquired the same. We concur with thu
District Court in the opinion that the rules estab
lished under those acts were obligatory upon the
officers appointed under it, 6 Rob. 1893.
The Commissioners for liquidating the affairs of
those banks have acted uniformly in conformity
with this rule. The subject is one of great diff
Guilty, but we have been able to come to no other
conclusion than that the judgment of the District
Court is correct. Bank of Maryland as. Ruff,
Gill & johnson r. 465 The judgment of the Dis.
trict Court is therefore affirmed with costs.
CHARLES A. LAcosTE FOR THE USE, &C., US. J.
r. HARPER, EXECUTOR, EFT AL. :. Appeal from
the Ninth Judicial District Court, Parish of Conf
cordia.. .SLIDELL, j.. Judgment affirmed with
costs.
Where citizen of Arkansas subscribed note made paya.
BILE in the State of Mississippi and after the lapse of FIVE
from its maturity suit was instituted thereon in
Louisiana BY attachment held. that he protected
by Art S505 c. c.. and that he could be considered
having done act by which his creditor had been
prevented from collecting his debt.
SHEPHERD Brown rs. RUFUS STONE. No.
1890. Appeal from The Tenth Judicial District
Court, Parish Of Madison. .RosT, j.. Per
cnradm: This suit was brought by attachment upon
a promissory note of the defendant, who is a cti-
zen of the State OF Arkansas, subscribed and made
payable in the State of Mississippi. At the time of
the institution of this suit than five years had
elapsed after the note became DUE and the defence
set up is the plea Of prescription, under Art 35O5
{. c. The case is before us on the appeal of the
defendant and the only question it presents is
whether the action, not having been commenced
within the period prescribed by the law of Louis
lana, can now be maintained under the statue of
limitations of the State Of Mississippi.
As the defendant lived in Arkansas at the time
he became party to the note, the plaintiff did not
contemplate that he should bring or keep himself
within the jurisdiction Of Mississippi, and he can
not be considered as having done any act by which
his creditor has been prevented from collecting his
dahf Ilnbar tho ,Stor consider ha