Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1874-09-04
N MASSACHUSETTS,.

Boston, Sept. 8. Judge Shepley rendered
an impor tant decision in the United States
Circuit Court to-day. May 18th. 1872. Sindey
Dillon having FLED a bill against Geo. NJ
Barnard, ct ais, assgnees, and VIM. T. Hart.
ct ais, trustees of the B. II. & Z. X. r. Co.,
to enforce lien on the property. The de-
fendnats filed demurrers on the 2nd of Sept.
following, and the decision to-day has sus-
tanned the demurrer. The court has issued
decree in accordance.
In the case of Nathan Mathews vs.. the
Mass. NATL Bank, Judge Shepley of the l..
S. District Court to-day, decided that the
plaintiff was entitled to judgment, and the
case should be referred to an Auditor to as
sess damages. This suit was brought by
Mathews to recover from the bank damages
| resulting from the reception from James A.
| Coe, as collateral for 1926, 900 loaned a fraud
ulent certificate OF POO shares of Boston &
Albany r. r stock, surrendered by the bank
| to Coe two years previous, with transfer in
blank of the cashier on the back. Said GER
tifcate of 200 shares was originally given to
the bonk by Coe as collateral for S22, 900 Dor.
rowed, and subsequently proved to be for
gerry from two shares, which resulted in the
trial and conviction of Coe for obtaining
money under false pretences. The defend
ants claimed that the cashier had no author
tifcate to Coe was not performed with any
purpose of sale of certificate or stock sup
posed to be represented by it. The court
held that the cashier had authority to act ac-
cordng to the general usage and course of
| business conducted by banks. Transfers of
certificates of stock held as collateral were
common transactions with banks. The sig
| nature Of the cashier was that of the bank.
His signature was given for the purpose of
transferring title, and whenever the blank was
| filled contract of sale was established be-
tween the party who has signed the blank as
signment and the person whose name is
| rightfully filled in as assignee. Mathews did
not know but what the certificate was
genuine, and we're it anyones bushes to in
quire into that matter it was that of the bank
officers before givingSto the fraudulent certiti-
cate the appearance of genuineness through
their signatures. The bank erred in placing
confidence in Coe to obtain the transfer OF
| stock from the Railroad Co., instead of taking
the certificates directly from the Company.
They rendered themselves still more liable by
delivering to Coe a forged instrument anthem
| ticated by their signatures in blank to trans
fer, thus giving it a currency and negotiable
ty which it would not have passed had they
| made the transfer directly to Coe. Thus the
bank put it in the power Of Coe to commi,
IIduu upon MdtucWe, Ou WHICH tnlS suit Wal
| founded. The conclusion is that the bank is
precluded, setting up forgery as defence,
and the plaintiff is entitled to judgment as
above.
Maj. Gen. Butler and staff, to-day, re.
| viewed the brigade of Massachusetts State
Militia, now holding the annual muster in
Framiugham. The troops made fine ap.
pearance.
The New England Shoe and Leather Asso-
citation held a meeting to day, and passed
resolutions of respect to the memory of Solo,
! mon X. Spaulding, long known as one of the
most prominent and wealthy leather mer-
chants of Boston.
| Springfield, Sept Sd. The Springfield Re.
publican Convention has returns from all but
dozen of the 81 towns in the I'd Congress
sional District of Vermont, which foots up a.
follows:
| Poland, Regular Republican, 5,l05
| Dennison, Bolter Republican, 1884
Davenport, Democrat, 1888
| Scattering, chiefly for Mead the
Granger candidate, 7SG
Dennison's plurality over Poland, 1929
Dennisons failure of majority, l,346.
The towns yet to hear from are mainly
small and equally divided between POLAND
and anti Poland sections of the District, 81
that the relative result will vary but Httl'
from the figures above given.