The Richmond palladium. (Richmond, Ind.) 1906-1907, 1907-01-08
A Number of Rulings Made by
Highest Tribunal in the
Land Yesterday.
MOODYS FIRST DECISION
NEY Works. STOCK TRANSFER
CASE DECLARED vALID-oHIO
BANK CASES WERE DISMISSED
FROM DOCKET.
Publishers Press.l

4
by Justice Brewer the supreme court
dismissed the so-called Canton bank
wrecking cases dealing with questions
involved in the failure last spring of
/ the Canton (Ohio) State bank. There
| were five of the Canton cases before
| the court, representing 25 indictments
| and of the five two were against Cor
| win ID. Bachtel. cashier of the bank,
| and one each against William l.. Da-
Wis, a vice president and director;
| Charles II. Van Horn, teller, and Har-
vey HI. Miller. customer. These and
10 other indictments were returned
by the grand jury of Stark county last
May, under what is known as the Ohio
free banking law of the state, which
provides for Imprisonment from Lone
to ten years .of any officer or agent of
bank who in any way attempts to
deceive or defraud. The indicted men
made an immediate effort to secure
release by means of writs of habeas
corpus, and falling in the state courts,
brought their suits to the supreme
cognizance of the case, they met
with no better success. They relied
entirely on establishing the unconsti-
nationality of the law under which the
proceeding against them was brought.
contending that as the punishment
provided for was made only to banks
incorporated under that statute, there
was discrimination such as to prevent
equal treatment before the law in
that provision was intended to apply
to some members of a class of per-
sons, and not to the class as whole.
The effect of the supreme court order
will be to leave the cases in the state
courts, at least for the present.
The supreme court of the United
States announced its decision in the
stubbornly fought contest over street
car privileges in Cleveland, Ohio. The
opinion of the court was presented by
Justice Peckham and affirmed the de-
cision of the United States circuit
court for the northern district of
Ohio.
The suit involved the right to oper-
ate a street car line on Central ave-
nue., Cleveland, for which both the old
company. the Cleveland Electric and
the new, the Forest City, contended,
the former under franchise, it urged,
was perpetual, or good until 1913, and
the latter under an ordinance passed
in 1904 granting to 1t a renewal of
the right to operate line on Central
avenue" The old company asked for
injunction against the city, and the
new company, which was granted by
Judge Taylor. who also held that the
franchise of the old company expired
March %, 1905. The city was prohib-
tied from putting the Forest City
company in possession of the other
company's tracks under the ordinance
of 1904, because of its invalidity, and
the Forest City company was enjoined
from asserting any right Of its own to
the tracks. The finding was unsatis
factory to all parties, and all appealed
to the supreme court, but the decis
ion of the supreme court leaves the
case just where the decision of the
circuit court left it.
The controversy between the Ohio
Valley National bank and the receiver,
Hullitt, of the insolvent First National
bank of Hillsboro. Ohio. as to whether
the former bank was stakeholder in
the latter when it went into bank
ruptcy and hence, liable for assess
ments made by the comptroller of the
treasury. was decided by the supreme
court in favor of the latter. The Val
ley bank had $4,000 worth of the
other banks stock, as part security
for loan. The loan was never paid,
and the note was credited with as
much of the debt as the stock stood
for. The circuit court of appeals for
the sixth district held that by this
the bank made itself the
owner of the stock. and that opinion |
ammo rccd BY Judge Day.
In deciding the case of Albert ].
Hatch rs. Edward Reardon, the latter |
a peace officer of New York. favorably |
70 Reardon, the supreme court of the |
United States passed on the validity |
Of the New York stock transfer tax /
aw. in eject holding it to be not in |
,ontravcnticn OF the constitution and |
nus sasta,-ing the decision Of the SUI
pretce cov-t of New York
The case Of Wilson VS.. the secre- /
AIRY of the treasury. in which Wilson
tho right of the secretary
% pay nlo-~v necessary to secure the
title of the - rob company TO the
Panama c1nal r. perty vas decided by
he supreme court against Wilson's
contention.
Justice Mcocy handed down his
7rst opinion IN supreme court in the
.ase Of Shropshire. Vocdlif & Co. VS..
5Tsh and others. trustees of the
Southern Ger and foundry company of
comins to the court on a
certificate, and held that IAN assignee
# the claim for wages earned within
N~ce months before the commence
ut Of proceedings in bankruptcy
INST a bankrupt dchtor, is entitled
q r~i~r.ts- e ray-sent under the bank
- act. v-acn the assignment o.
,u--el p-ic- % the commencement OF
IIck baa,sr.i't proceedings