, 1877-05-05

Cook Comfy National Bank and otherf. u wds
vi sa2teG ss9ns on, ts,' aas:tan,
issue. The eomp!anant Wa National nank iI
~ conGt s o,s.t vi r..
Few York stato toan = Tru.t Company. wss
banking eorporatlon Of My. Y9,k. @
G..hter ca % of ,,ls sep'WSd, Wyando,a bank. Will VIII
y Chsaao made etom.ssst{ noie q t b.nk for
esa i: is: ~ f = &':'s's .s
Wysndotts hsnk should havs IL nate dlteoan.etl
"a Ssfs The g'
VI. sd ns I'll: vs essa cnt and
ua ;s eSSss Gspc.t 'rn e ts elst s # s se @,sn
an, abont ~ n of October, 1s74. n, + Allen,
pany, ut Ita place Of bnslnes. in New York CITY.
Attst ha,,nE besa po,.ea By hin, 4 w:s di::
iank, bvt they we're ali checked ont before tic
esy 5 s sat, ns ,.es s s ss %.s s''S = :sf
has NOT been pa,d, Tho Trnst Company claimed to
ts fs value ,sst ss!P'' sa' eesss sss ss's' t
W;ss,, ssR @ III. ssss; hen s ss tn, p1s:: =:
ent iii 10 enjoln suc' collection. 10 eoppei
trndcr Of the note and fecnritfes and az nppca::
Of Tia Wyan,lotte bank on tho oooka 81 tho Cook
Sn NnCGs .;o ank e M I'm a. Of ths IT, nv; ";
nes " w." n s
in tic bank itself to maize tlc SANG; second That
was si baand to obey, and that TIC Trurt Company
was chargcsble with notice Of tic special cIrcAnl
stances and facts out of which The note originated
judge l.lodEes. in deciding tho case. said that
asion q eorpert1Ioas Fi.st they Ttts Limited Y
corporations sog,a only ast throaxh agents. snd
powers delegated to them respectively. The lcai.
fng object Of tho creation Of tho National Banks
va. f. 'ec9re ,a sa1s "asmsy for s
country. Tho obvious intention at Congress in
framing tho law was 70 confne those corporations
t. ssg %s.e bs;pkng 10 MAKE
se!tina thet eppital IN them a. stoekholdats vera
's e PsA s Ta t n 'sf q
tfol, as aay oihsr ro'isy tended to enj.ngsr lilo
'"iS If Sec. @ S1 !, Ia Of sas BANKING sst such
ses y se.ss II s[ oss ss d. .ss s .sss PjesHss e
law, all sacs incldenta! powers a Should DO noces
rary TO carry On the buslncss OF banking by dIs-
sSs Ss Y .aa sos nss' 81
change, coin. std ;! !bnllon, ly 1oantng monty on
notes. Tho business Of bang ws. 10 lend, not 70
borrow money: 10 d!scouns o,hcrss v, n6tes. net
tiona1 Dank might. not under costaIn
tnYP nf mn fet
*ouFse of legitimate md ordinary banking business
e e. e ss2s ssse eed III Sq s ss u Sa T. ~
Il that tho agents acting for bnnk engaged In 40
cxtsaordnury and Questionable dealings wore act
Thosd dea!llng with bank might safely asnuuse
that ita o'lcerr. rse'l1eat Cashier. to,cfs. stc:
oro acting Within Tie limit of tleir tn lcnd-
ing money. d!acountinx bills, receiving dcposits.
10 banking buuiness. Hut when m on,cef Of bank
s e II oPiE e ns III i s"sY buzz
.equont ratification 70 'uass hs' net binding upon
III other words. porson dealing With bank In
matter 80 much nas Of the !,ne Of usual bank.
ing business would bc put on inquiry to As.
lad been delegated 10 the otlcera assuming to
e1erctae them. and tho whole htaosy Of the trans.
ss,an Of we:h he nS's o.ns;a :hosa S
tho Cashitr Uf q Nalional Hunk locatcd In Iiansaa
coinlnv to this city and hero assuming to borrow,
nno,hsr National BANK located bore, ior which he
gives tne noic Of hta bank PAYABLE in fur nonth1
s bet1!e thq note E r. wn wscka X oa II va. skc
iho payee. Thai was enouyl 70 hare rat the hsnk
to whom It wns onerrd for. rcdlseount on
s11 sn ia. hs sse '"gs ase ss. il :s ssSa!
Ras sad eaase y @ ~ sss pit
Or 70 tako 1t subject to sll sau,N. Had tho Loan
= Trnst Company inads dua inquiry IN regard to
ts origin ot The paper tn question, tAs faes would
adsiaca TINT the note was Riscn on special agree.
,ncnt: and thMt at most only ST. QUO could ever be
Il VIVA nrecd that tho defendants had paid ful.
valno for tho note, and that The WIandotta bank
shou!d nut 10 hcard to deny tho authority uf fta
waa TINT the record did not show Ut all that tho
Cashier had tho right TO glve the note, AMI tho
burden Of rroof. even ~ a9aEnat tl!e Wyandotte
to show Tint thc Casklef was authorized 10 make
IT,. Narrower. whvn lhe Lt'an 4 Trust Company
tss a'. b. ~,
would b. not alarnas Sosttine thsl tls cash,ss
a1si tSs Isns Il 0 ts uno linking sna ;.ens eHf
through, and thereby hllid!ng h!s stockholders ever
hey 1 Gourmet. Ts rooi I'D hot disclose VII w,as s tt
puFposa Ut tho Cashier Of tho Wyandntto bank va.
nary contract that accompanied it-elvlnK a foul
months nuc at per cent. and yet nut having III.
uso Of fout.dtths n It Tor tha whole lfu of ii.
nnte. It was suouel, to sar that sny ,au apprtxe,
n those fach must l,aye knowh !fat tho nut
va not G fe,sssnt ts .ny @ ss!t..s nk'ns tran.a
10 put such nots in circulation n,uss bo breael
Of tlso contract fson. which the totc *prsng.
The Jud:n was therefore clearly Of tho optniot
that tho l.nan i Trust Company ~xs not abona
tdc holder ot thr Notc " asafn.t tho Wyanduta,
banks lhnt the caultlca between tho original par
entitled to rolrs ty having tho atnuuut slanu
ing TO ~ erodit With tho Gook County Natlona
ank q q The tine sa nnto fcIi ns arpis n p.y
10 have TIC bonds surrendered. f.,
GENERAI*