Casey v. National Bank
| Citation | 24 L.Ed. 789,96 U.S. 492 |
| Parties | CASEY v. NATIONAL BANK |
| Decision Date | 01 October 1877 |
| Court | United States Supreme Court |
APPEAL from the Circuit Court of the United States for the District of Louisiana.
This case arose upon a bill filed by Casey, receiver of the New Orleans National Banking Association, to recover certain notes and bills receivable claimed by the defendants, the National Park Bank of New York, and E. H. Reynes & Brother, to be held by way of pledge for certain advances made to the bank by the National Park Bank of New York. This Circuit Court dismissed the bill, and he appealed to this court.
Mr. J. D. Rouse and Mr. Charles Case for the appellant.
Mr. Thomas Allen Clarke, contra.
This case is, in all essential respects, similar to that of Casey v. Cavaroc, supra, p. 467. On or about the 4th of June, 1873, E. H. Reynes, on behalf of the New Orleans National Banking Association, applied to the National Park Bank of New York for a loan of $150,000, upon the notes of the former, to be secured by a pledge of collaterals. On the 11th of June, the president of the Park Bank, at New York, addressed a letter to Charles Cavaroc, president of the New Orleans National Banking Association, in which he says: On the 11th of June, Cavaroc, as president of the New Orleans Bank, sent to the Park Bank, in a letter, two notes of the former for $75,000, each payable as agreed, and a list of notes and bills receivable, amounting to about $170,000, with a receipt appended thereto, as follows:——
'NEW ORLEANS, June 11, 1873.
'Received, in trust, for account of the National Park Bank of New York, from the New Orleans National Banking Association, $170,084.42, of bills receivable described in annexed statement; said bills receivable being given by the New Orleans National Banking Association, as collateral security of their notes, due respectively on the 10th and 20th of October next, 1873, each for the sum of $75,000, payable to the order of the National Park Bank of New York.
C. CAVAROC, President.'
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...concerned." Counsel for the receiver rely particularly upon Casey v. Cavaroc, 96 U. S. 467, 24 L. Ed. 779, and Casey v. National Park Bank, 96 U. S. 492, 24 L. Ed. 789, the facts of which are very similar to the case at bar, although not so similar, we think, as those in Sexton v. Kessler. ......
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