Coates v. Doran

• Decision Date: 31 October 1884
• Citation: 83 Mo. 337
• Parties: COATES, Assignee, v. DORAN et al.
• Court: Missouri Supreme Court

83 Mo. 337

COATES, Assignee,

v.DORAN et al.

Supreme Court of Missouri.

October Term, 1884.

Appeal from Jackson Circuit Court.--HON. TURNER A. GILL, Judge.

REVERSED.

Karnes & Ess and Fox & Jones, for appellant, Coates.

Scott & Taylor for appellant, Rosenthal.

NORTON, J.

The Mastin Bank, doing business in Kansas City, Mo., kept an account with the Metropolitan National Bank in New York.The Mastin Bank failed and made an assignment to the plaintiff on August 3, 1878, and at the time of the assignment there was in the Metropolitan National Bank to the credit of the Mastin Bank $62,386.74.At the same time there were outstanding checks or drafts drawn against this fund amounting to $81,884.60.The said sum of $62,386.74 was afterwards paid over to the assignee by the said Metropolitan National Bank.The assignee, in due course of administration, proceeded to allow claims as provided by law, and nearly all of said checks or drafts were presented by the holders and allowed, but some were not presented at all, and of course were not allowed.On such as were allowed dividends were paid, the same as to other creditors.Subsequently suits were commenced by certain ones of those draft-holders against the assignee, both in the State and Federal courts, wherein it was held that the parties were entitled to be paid in full out of this money.The several sums thus recovered amounted to $8,656, in favor of the several parties, as set out in the petition.This left in the hands of the assignee $53,730.74, with drafts equally entitled to be paid therefrom still outstanding and amounting to $73,228.60.Under these circumstances the...