Nash v. White's Bank of Buffalo

• Decision Date: 19 April 1887
• Parties: NASH, v. WHITE'S BANK OF BUFFALO. SAME, v. MANUFACTURERS' & TRADERS' BANK.
• Court: New York Court of Appeals Court of Appeals

105 N.Y. 243

11 N.E. 946

NASH,

v.WHITE'S BANK OF BUFFALO.

SAME,

v.MANUFACTURERS' & TRADERS' BANK.

Court of Appeals of New York.

April 19, 1887.

Appeal from general term of the supreme court, Fifth department.

These actions were commenced in the supreme court in October, 1873, and were founded upon chapter 163, Laws 1870, the first section of which authorized banking associations “to take, receive, reserve, and charge, on every loan or discount made upon any note, bill of exchange, or other evidences of debt, interest at the rate of seven per cent, per annum; * * * and, in case a greater rate of interest has been paid, the person * * * paying the same * * * may recover back twice the amount of the interest thus paid from the association taking or receiving the same.” The complaint in each case contains 274 counts, by each of which the plaintiff charges that he presented to the defendant, a banking association, a promissory note, (describing it,) and made application for its discount, and that the defendant purchased of him and discounted the note “at a greater rate of interest than seven per cent per annum,” in violation of the provisions of the statute referred to. While the actino was pending, the act of 1880 (chapter 567) was passed, providing that section 1, c. 163, Acts 1870, “is hereby amended so as to read as follows.” Then the section as amended is set forth, and is similar to that of 1870, except that “six per centum” is inserted in place of “seven per cent.” There have been three trials, and three judgments in these cases. See 68 N.Y. 396. At the third trial, plaintiff had judgment upon the report of a referee, which was affirmed at general term, and defendants appeal.

Sherman S. Rogers, for appellants.

Joel L. Walker, for respondents.

PER CURIAM.

We are of opinion that the effect of the act of 1880 (chapter 567) was to repeal the penalties imposed by chapter 163 of the Laws of 1870, and that consequently this action, which was brought under the act of 1870, could no longer be maintained; the act of 1880 containing no provision saving pending actions or existing rights of action. The provisions of the general repealing act of 1828 (sections 6 and 7) related only to the acts repealed by that statute, and had no effect on subsequent legislation. Mongeon v. People, 55 N.Y. 613. If the act of 1870 was repealed by the act of 1880, the subsequent legislation cannot affect this case, for it could not revive an extinguished cause of...