Henry v. Martin
| Decision Date | 02 October 1894 |
| Citation | 60 N.W. 263,88 Wis. 367 |
| Parties | HENRY v. MARTIN. |
| Court | Wisconsin Supreme Court |
OPINION TEXT STARTS HERE
Appeal from circuit court, Chippewa county; R. D. Marshall, Judge.
Action by Robert Henry against Levi F. Martin. There was a judgment for defendant, and plaintiff appeals. Affirmed.
The plaintiff sent money, to be loaned for him, to one Vesper Morgan. Morgan deposited the money in Seymour's Bank, in the name of J. D. Morgan, with notice that it was the money of third parties. He claims that at the time when the money was deposited the bank was insolvent, and that Seymour and his clerks knew that it was insolvent. Seymour failed, and assigned to the defendant for the benefit of his creditors. A small sum of money came to the hands of the assignee. The plaintiff claims to recover from the assignee his entire deposit on the ground that it was a trust fund, which remains in the hands of the assignee. There was a general demurrer to the complaint, which was sustained. The appeal is from that judgment.Vesper Morgan, for appellant.
F. J. Connor and T. F. Frawley, for respondent.
NEWMAN, J. (after stating the facts).
This case is ruled by Silk Co. v. Flanders, 87 Wis. 237, 58 N. W. 383. The plaintiff made no special deposit of his money in Seymour's Bank. It was not expected that the identical money deposited would be kept and returned, nor is it claimed that it has been kept; nor that any part of the money found in the assignee's hands is the identical money deposited. The deposit created the relation of debtor and creditor. The bank became the plaintiff's debtor, not his bailee. The plaintiff's relation to the assets of the bank in the hands of the assignee is in no wise different from the relation of the common creditors of the bank to the same assets. The judgment of the circuit court is affirmed.
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