Banking Cases, Annotated (Volume 2); A Collection of All Cases Affecting Banks Decided by the Courts of Last Resort in the United States - Softcover
Inhaltsangabe
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901. Excerpt: ... Quin v. Earle The committee to examine the books of the trust company met on the evening of the 22d, and the result of their examination was such as to cause them to advise the syndicate against going on with the negotiations. They so informed Mr. Singerly, who was present. This was between 10 and 11 o'clock of the evening of December 22d. Mr. Singerly then turned to Mr. Hardt, the bank examiner, and said, "This means, Mr. Hardt, that you will have to take charge of the bank to-morrow morning." I cannot see in all this that Mr. Singerly, as president of the bank, was not, up to the hour named, making a bona fide and hopeful struggle to extricate the bank from its difficulties. That he, as men in such straits are apt to be, was over sanguine, does not matter, if the hope really existed, on the grounds here disclosed, at the time the deposit was received. The evidence of Mr. Stotesbury certainly shows that Mr. Singerly had powerful friends, and that a syndicate of ample financial strength had been actually formed to put him in a position to relieve the bank of its embarrassment. I do not think that a fraudulent purpose in receiving the deposit of complainant should be necessarily attributed to him because he did not, under the circumstances, abandon hope of assistance from that source until 10 or 11 o'clock of the evening of that day. Nor do I think that there is any sufficient evidence that he had so abandoned that hope at the time of receiving the deposit. To have suspended the business of the bank, and refused deposits, pending the negotiations upon which his hopes were founded, would have destroyed all prospect of their success. This testimony above referred to is substantially all that has been adduced by complainant on this subject. The testimony of W...
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Reseña del editor
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901. Excerpt: ... Quin v. Earle The committee to examine the books of the trust company met on the evening of the 22d, and the result of their examination was such as to cause them to advise the syndicate against going on with the negotiations. They so informed Mr. Singerly, who was present. This was between 10 and 11 o'clock of the evening of December 22d. Mr. Singerly then turned to Mr. Hardt, the bank examiner, and said, "This means, Mr. Hardt, that you will have to take charge of the bank to-morrow morning." I cannot see in all this that Mr. Singerly, as president of the bank, was not, up to the hour named, making a bona fide and hopeful struggle to extricate the bank from its difficulties. That he, as men in such straits are apt to be, was over sanguine, does not matter, if the hope really existed, on the grounds here disclosed, at the time the deposit was received. The evidence of Mr. Stotesbury certainly shows that Mr. Singerly had powerful friends, and that a syndicate of ample financial strength had been actually formed to put him in a position to relieve the bank of its embarrassment. I do not think that a fraudulent purpose in receiving the deposit of complainant should be necessarily attributed to him because he did not, under the circumstances, abandon hope of assistance from that source until 10 or 11 o'clock of the evening of that day. Nor do I think that there is any sufficient evidence that he had so abandoned that hope at the time of receiving the deposit. To have suspended the business of the bank, and refused deposits, pending the negotiations upon which his hopes were founded, would have destroyed all prospect of their success. This testimony above referred to is substantially all that has been adduced by complainant on this subject. The testimony of W...
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