New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-04-01
THE COURTS.
,rx1rrn STATES SUPREME COURT.
RESPONSIBILITY OF NATIONAL BANK-AN lN'OH'
.SoE Observation-Disclosures.

RESPONSIBILITY OF A NATIONAL bANn 1890
.Scy Observation-Disclosures
w,su,xCToS. March 31.--A decision was
,rod by the Supreme Court of the United states To-
a. an cass which involves an interesting question az
20 Tho responsibility Of National bank for cernc'es VI
ts stock fraudulenty issued by one OF lts oce'S " NO
own benefit without the knowledge OF the directors '"
other officers Of the bank aud without recoru oh '
hanks books The is that of Caroline a, Moo''F
nlaiue in error against the Citizens National Banh u
pioua Ohio In error to the Circuit Court OF the On'
states for the Southern District of Ohio IDe lacls VI
.so orc briefly as follows Mrs Moorcs the palnth 10
error lent a sum OF money to Robert b. NooreS 10 va
own use and received from linn as security loi us r'I"
mont n certificate of stock to an equal amount III
National Bank of which he was cashier bearing tue ~"
noratn seal and the genuine signature OF mUSeH ~
cashier and of the president, and ceThylhe tN'' MS
Moores was the of that amount OF Stock u"S
ferabIe only on the books OF the bank on the VI
This certificate" as was in fact provided by It's oF laws
The uresdent and cashier authorized 70 Issue NC"
o,ti6co,os on the surrender Of old ones ana Tee pTcsl
dent had signed and left with the cashier blank cer1-
cafes TO be used If necessary in his absence anu 'o o
f6cate issued b. cashier to Mrs Moore was one OF
these certificates. Robert B. Moores the casher' htu
formerly been and appeared the books OF the OsnK 10
be st the owner OF stock to large amouni nut tnere
was no other evidence that owned such stock or that
nc surrendered any certificate thereof at the time OF
isspg the certificate Mrs MoOres or that the psk
authorized or ratified received any beneht from Ho
issue Of this certificate. ,,,.
The Cour+ holds First that bank was not liable 10
Mrs Moores for the value of the certificates seceno naV
the action could not be supported evidence that in one
or two other inst stock issued by the caser
without any certificates being surrendered ana 'haV no
shares held by Robert MOores, and which there was
evidence TO show had been pledged by MIN 10 o'noi PCT
sons before the ISSUE OF the certificate TO Mrs MooreS
were aferward transferred to the president with the
approyal of ne directors 10 secure debt due from INC
said Robert b. Moores the bank without further e'u
euce that the such certificates by the casnet was
known or recognized by the other officers OF the Dahk
The Judgment Of the Court below is therefore aheu'
on,nion Inv Justce GRAY. Justice Bradley dissenting
decision was also rendered by the Court In tue case
OF the NewFngland Mutual Life Insurance company
plaintiff in error against stephen f. WoodWortn' ADMIN
iraor In error to the Circuit Court OF The Unted states
for the Southern District of Illinois The Court hods:
First that policy of life insurance issued by eohpdh!
incorporated in one State payable TO the assured MS
executors or administrators is assets for the purpose Oh
founding administration upon his estate III anolhef 0e
in which the corporation at and since the tle VI h'o
death business and required by the statutes Vi
that state has an agent whom process against IL may
ba served second that under section IS, chapter j. OF
the Revised Statutes of Illinois of 1874 husband Is c
titled TO administration the estate OF MS WIG IL sio
left property IN Illinois Letters OF administration winch
state that the intestate had at the time of death personal
property in the sufficient evidence OF the au
thoty OF the administrator in that state in the
absence OF proof that there such property Inc
judgment of the Circuit Court is affirmed Opinion by
Justice Blatchford.
Other cases decided to-day az follows:
No 26i-George Cooper Ell al, aintds IN error vs.,
Barhold schesinger al in 20 the Circuit court
of the United for the Northern DISTRICT Oh Oo'
Judgment affirmed with costs and Int
No 255-Ieonard Lowell, plaintiff in error, VS. SIIah
Jeyman IN error the Supreme Court OF the state OF
Michigan. Judgment reversed with Costs anu cdusS
Temanded with instructions 10 affirm the Judgment Oh
thh Circuit Court for the County OF Kent III IaNor VI
the plaintiff in error. - ~ -, ~.
No 254-Jaue C. Htz, appellant. agt the National Met-
ronotan Bank: appeal from the supreme our OF lne
District of Columbia decree reversed WIN COSTS Su
cause remanded with directions to dismiss the b no
25G-Barzla stephens plaintiff In error agt the Mon0-
gabcla National Bank of Brownsville No 25I-l5aizIa
Stephens paintfin the MonOngaheIa Natlons
Rank of BTOwnsve: No 25S-Az8rioh stephens plantln
in error act the MOnonRahela Nation Bank OF brOwns
willie in error Circuit Court OF me United aeS TOT
the Western District Of Pennsylvanid judgments AZ
Oh uteau plaintiff agt Charles Gibson IN q rof
10 he Supreme Court OF the Sta or missouri lsusb9
FOR want jurisdiction. Tho other business unsCIeu
TO- day was as follows:
10 25S-W. L. Robb p3'utif In error ag r. connolly;
Moon ~ advance granted be submitted on printed
arguments before AIrl IL ,, 49,. 90. 1, ao,fo
camapt etc Appeal from the Circuit Court OF nc hIteut
states Eastern strict OF lousaAa O1 uo'!oh VI
Solicitor. PhMps for appellant dismissed ,-,s
No 428-The United states aDi c.iaHt agt NIllo Naicz
Appca from the on motion u Sohcnor"en-
er.1 Phillips for appellant dismissed. -.o,-
No 1.-THE Board OF Supervisors Of the County OF SANTA
Cruz plaintiff IN error agt the SANTA 'Iu1 hSIou O'l
panv. Motion 20 dismiss submitted ID, ,,--,..-.
No 243-Wlliam Twins appellant agt sumner Duhham
Argument Continued.