Citizens' Nat. Bank v. Great Western Elevator Co.

Citations

• 13 S.D. 1
• 82 N.W. 186
• 1900 S.D. LEXIS 97

Syllabus

<p>1. Under Rev. St. U. S. § 5169, authorizing’ the comptroller of the currency to issue a certificate to an association lawfully entitled to commence a banking business, that such association has complied with all the provisions required, by law before commencing such business, and that it is authorized to commence business, such certificate is conclusive evidence of the incorporation of the association to which it is issued.</p> <p>2. A complainant designating itself as the ‘ Citizens’ National Bank,” instead of “Citizens’ National Bank of Watertown,” under which title it was incorporated, is not prevented from maintaining its suit where it sufficiently appears that the complainant was the bank to which the certificate of incorporation was issued.</p> <p>3. Where, at the maturity of a note for the payment-of which warehouse receipts for grain were pledged, the warehouse was closed without any person being in charge on whom demand could be made, and it not -being shown that defendant had any other warehouse in the state at which a demand could be made, the pledgee, in an action on such receipt, need not show a demand for the grain, or a tender of the storage charges.</p> <p>4. A pledgee of warehouse receipts ma.y sue on them in his own name, accounting to the pledgor for any amount he may recover.</p>