Broderick v. Adamson

CourtNew York Court of Appeals
Writing for the CourtCROUCH
Citation200 N.E. 797,270 N.Y. 228
Decision Date03 March 1936
PartiesBRODERICK, State Superintendent of Banks, v. ADAMSON (Gordon) et al.

270 N.Y. 228
200 N.E. 797

BRODERICK, State Superintendent of Banks,
v.
ADAMSON (Gordon) et al.

Court of Appeals of New York.

March 3, 1936.


Action by Joseph A. Broderick, State Superintendent of Banks, against Robert Adamson and others. From a judgment entered on an order of the Appellate Division (244 App.Div. 708,279 N.Y.S. 733), affirming unanimously and without opinion a judgment rendered after trial at Special Term (148 Misc. 353, 265 N.Y.S. 804) against defendants Isaac Gordon and Yale Schulman, such defendants appeal pursuant to leave of the Court of Appeals.

Affirmed.


[270 N.Y. 229]Appeal from Supreme Court, Appellate Division, First department.

Barnett E. Kopelman, of New York City, for appellants.

Harold N. Cohen, Carl J. Austrian, Edward Feldman, and Samuel K. Field, all of New York City, for respondent.


[270 N.Y. 230]CROUCH, Judge.

On and prior to December 11, 1930, the defendant Isaac Gordon appeared, and now appears, upon the stock ledger of the Bank of United States as the owner and holder of 80 shares of its capital stock which were represented by three certificates, one of 50 shares, one of 20 shares, and one of ten shares; and defendants Isaac Gordon and Yale Schulman appeared,

[200 N.E. 798]

and now appear, as the joint owners and holders of 150 additional shares of the capital stock of said bank, represented by two certificates, one of 100 shares and one of 50 shares. On December 9, 1930, defendants sold and delivered the entire 230 shares to one Ethel Gordon, who then resided, and still resides, in Stamford, Conn.

[270 N.Y. 231]This action was brought upon an assessment of $25 per share, levied against the defendants as the holders of record of said 230 shares. Plaintiff had judgment, which was unanimously affirmed upon appeal.

Prior to the closing of the bank, the five certificates representing the 230 shares had been presented for transfer and transfer had been refused. It was found below that the refusal was unwarranted as to three of the certificates representing 160 shares. We may disregard that phase of the case and deal with the question presented as if the transfer of the entire 230 shares had been made of record, since the decision below was that ‘a full and complete transfer by the defendants Isaac Gordon and Yale Schulman to Ethel Gordon, a resident of the State of Connecticut, of the stock held by them upon the books of The Bank of United States would not have relieved them from liability for the payment of the...

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4 practice notes
  • Siebert, Application of
    • United States
    • United States State Supreme Court (New York)
    • April 3, 1979
    ...affd. 269 N.Y. 642, 200 N.E.2d 37 and Broderick v. Adamson, 148 Misc. 353, 265 N.Y.S. 804, aff. 244 App.Div. 708, 279 N.Y.S. 733, affd. 270 N.Y. 228, 200 N.E. 797 support the utilization of a prior section (Banking Law § 620) from which the present one (Banking Law § 612) is derived, the Ba......
  • Broderick v. Weinsier
    • United States
    • New York Supreme Court Appellate Division
    • January 28, 1938
    ...stockholders to enforce the liability thereby created. Although there are expressions to the contrary ( Broderick v. Adamson [Gordon], 270 N.Y. 228, 200 N.E. 797; Broderick v. Aaron, Kornberg, 268 N.Y. 260, 197 N.E. 274, 103 A.L.R. 684), we shall, for the purposes of this discussion, assume......
  • Superintendent of Banks of State York v. Moors
    • United States
    • United States State Supreme Judicial Court of Massachusetts
    • June 2, 1936
    ...inquire whether a completed transfer to a non-resident of New York would have relieved the defendant of liability. Broderick v. Adamson, 270 N.Y. 228, 200 N.E. 797. The statutes of New York contemplate an assessment by the superintendent of banks, not by a court in judicial proceedings as i......
  • Heaton v. City of Cohoes
    • United States
    • United States Court of Appeals (New York)
    • March 3, 1936
    ...to examine the accounts ‘for the purpose of determining the financial position of the city of Cohoes, in particular reference to the [200 N.E. 797]constitutional debt limit,’ and to give ‘substantial advice on finances,’ presumably with reference to the ‘better system of accountancy and fin......
4 cases
  • Siebert, Application of
    • United States
    • United States State Supreme Court (New York)
    • April 3, 1979
    ...affd. 269 N.Y. 642, 200 N.E.2d 37 and Broderick v. Adamson, 148 Misc. 353, 265 N.Y.S. 804, aff. 244 App.Div. 708, 279 N.Y.S. 733, affd. 270 N.Y. 228, 200 N.E. 797 support the utilization of a prior section (Banking Law § 620) from which the present one (Banking Law § 612) is derived, the Ba......
  • Broderick v. Weinsier
    • United States
    • New York Supreme Court Appellate Division
    • January 28, 1938
    ...stockholders to enforce the liability thereby created. Although there are expressions to the contrary ( Broderick v. Adamson [Gordon], 270 N.Y. 228, 200 N.E. 797; Broderick v. Aaron, Kornberg, 268 N.Y. 260, 197 N.E. 274, 103 A.L.R. 684), we shall, for the purposes of this discussion, assume......
  • Superintendent of Banks of State York v. Moors
    • United States
    • United States State Supreme Judicial Court of Massachusetts
    • June 2, 1936
    ...inquire whether a completed transfer to a non-resident of New York would have relieved the defendant of liability. Broderick v. Adamson, 270 N.Y. 228, 200 N.E. 797. The statutes of New York contemplate an assessment by the superintendent of banks, not by a court in judicial proceedings as i......
  • Heaton v. City of Cohoes
    • United States
    • United States Court of Appeals (New York)
    • March 3, 1936
    ...to examine the accounts ‘for the purpose of determining the financial position of the city of Cohoes, in particular reference to the [200 N.E. 797]constitutional debt limit,’ and to give ‘substantial advice on finances,’ presumably with reference to the ‘better system of accountancy and fin......

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