New-York daily tribune., 1857-10-20
LAW INT,E.ELIGENCE.

-=s...e..=7
LAW LNZEELIGE,NCE
SUPREME coURT-sFEcuL TERM-Ocr. la-Before Judge
ROOSEVELT.
AZ 1sJuyc11oy AGAINST THE BANK OF NETWORK
DENIED
Livingston sgt. The Baak of New-York
The plaintiff being, be alleges, the owner OF two
between the hour. Of O'clock pre'ented them to the
refused He further alleges information and belief that the
bank . and therefore psy t1st may Os M
functions from collecting its debts from paying out or
.pprooriasd to pay il. liabilities according 20 law"
As preliminary final decree he moves parte on
Couts requiring the back TO show at early day why
receiver should not he appointed .o as charge gin the nts
T.. the made matter OF 'tet legal
right and not is it undeI a. sae ms ne
ta no doubt entitled to the remedy by the ordinary
.s.ips. sny sther debtor He in such
sccu dispatch than an ordinary c,sdos Hs IN % s
days the er.. step tsien the law declares
est and costs unless the Judge shall be satisfied BY affidavit.
setting forth the facts thai there Is good Defense on the
iudanent until trial can be had And even in that
seldom likely to occurthe issue joined whether f,c or
mode Of also restricted BY
requiring the certificate of Judge that there Is probable
error satisfactory security for the payment Of he demand
in the of final Judgment with interest a. the rate Of zen
per cent and costs" T.. .,- -.o,...u 49,.
applicable any proceeding for the OF demand
sssn. bank kind of paper credit. to sircn''e
money" And viii thus be seen that as against thas oa o
banks every depotor well bhodr ordinarily
p s. Of peo (which execution BY the terms of the
Code may be re.unsbe within the further period OF sixty
and that the time OF payment may accordingly oy legal
be postponed that manner for three months or
tbrreebouts and no longer.
intended to app, 10 the higher courts alone may
doubt 1t clear however that they do not take from the
.ro. Of 800 and undera remedy which without going
details 1t is presumed is at least prompt IS any in the Sn
What there then for extraordinary measures
those AIR @ ID .'"I The S 'Ss Ss e are
l. solvent but is that shown The plaintiffs nforms
on and belief" surely evidence especially when in d.
rec contradiction to the regular official reports Of the bank
being made under oath and pabshed BY sspess
ton OF law Is presumed entitled 70 a. sst 9 agn
weight udcay the unknown aud unworn informant OF the
LEFT then 70 the mere legal inference insolvency
resulting from the suspension Of specie payments BY bank Of
Is such the necessary inference from SUSPENSION matter
whs. the bsnks assets smourt TO- cases whe suspeu
ou IL and peay throug the State aud
every other section Uuion 1t that it not
The .uts Of being Os9ans in ma e s9a 9.Ps .ps
ciey the onnd would seem 70 supeTssde on these
proof by Of execution by other s,tis
factory evidence before is returned that execution for
amy debt liability exceeding lo not be satisfied out
of any properly the bank thus sued the Judge shall at once
mal. declaring the insolvency such corporation CT
association be followed of by the spponten OF
receiver 10 ind up business Under another section how
ever or wihout waiting the first twenty days or the
subsequent sixty days II ms demand Exceed 1lv may
any time after ten days from the rei1.s o. payment apply Tor
an order the % oss sI9 m @ ns lon % TN u p c
sened be e1peden order to prevent fraud Injustice
on sIng Of the parties on short notice. he shs determine
whether bank be clearly solvent or terwe And even
nue the temporary Injunction If have been granted until
full payment Of the dcOs and costs But he Determine that
clearly solvent be must not only con lnne the In
Reading these prOviiOns that ty. true
nf 1ls
suspension of specie payments Of itself and oy se settles
", s Il. o an eRssuton and % inability satisfy
t. and ndsr another fret delay OF at least ten dys ana
.hsR hearing on turtle, eoss ana an .sd e9e . BII
Issue the creatures Of the law The sans
Weld an income to the Ihoder how such income
10 b. realized unless they allowed to loan no. only the
capital portion last their dePoss snd that TOO not
Ietunabe demand but me II assumes the etore in
very organization OF such in.tutons that in cs.e OF
oiysnt may net Ssrs specie enough on hand nned,ey
sti. all claims Thence the act Of 4s instead OF anthoiz
ing permanent injunction upona mere refusal to pay ia SPECIE
require, further proof In's1s OF
abe satisfied out Of any property Of the dendant OF nat
foil hearing Of the parties shall appear and oe so de-
ermined that the institution is no. clearly solvent"
In the present is admitted that the bsns MSS
. fc nj to satisfy al densnds. Within the meaning OF .a
fos the prayed for in the
Fer that reason IS well as for the reason 'nas 10 D I'M M
at. p..snts5S not aply not erpedispt" bat the
highly Dexpedielt, 10 grant tnipbit1
order to show why such sn injunction sn'u n0' "o
stued =,
The Revised Statute. on this subject hsve said woald seem
bsse superseded by the lter provisions OF the
of s49. This position requires some qusnhs
statute Is conin-d TO demands exceeding one hnnoIeu
and corporations and Joint stock associations os
notes.; whereas the previous stssue % were sppuso 70
ors creditor Of sny amount and loan. bsnkns Or IN
corporation" whether issuing no,ss OF oe II ns
obvious however that where statute says tnst
thug b. after twenty days after Ten Gays anu
hearing Of both parties precisely the same tons csnnot oe
eighty twenty en any number Of days There an op
vious fepugpanee operating 10 that extent az an
The present application therefore, in that view Also ns
dismissed. The plaintiff demand exceeds $l"-sh
Q deposit circulating notes-snd YET
made instead Of ten days afer .hs reusa Of Psymsar
certainly exception the princple-ads the !es
aud no, the slothfuL IL 10 possible nevertheless even " ~
q csse rise early. -,
Banks Of Issue, IL will thus b. where tney ~ -
good faith and clearly solvent have n1 III ~
breathe sfter suspension sthough not yer! long on -
ceps smell dem snds they have twenty days. ana
appreciation sf the Sheriff baye sixty moe All % ~ .hs
eli th credi,or except boders II ceft an ,h
Coz sution correct Ieesture Should .heJ IN sr
public good require extend the
thsr On this point, ~ever exPyss no nsrm 6r,t 20
that any Legislation to be valid must
the Federal Coz stitu6n rrohAns all the stafss I
lsw "impsirns the oblestton OF vb.tsyef
the State Constitution prohib'in the n.,s,s
may BE- the interpretation Of the the
any law 'anctionns In manner deo' ornorstion OF
" "ss.ociaiIcr issuing bank notes OF any descnPa'H
UNITED STATES DISTRICT Cophi'-'
DECISIONS IN ADMrRALIf'
r.. e.u-;- - a. \. - ronts in two OF the cases