Fisher v. North Penn Bank

Citations

• 77 Pa. Super. 558
• 1921 Pa. Super. LEXIS 316

Syllabus

<p>Banks mid tanking — Deposits—Special funds — Trust funds— Mingling with >o.ther funds — Bight to follow — Claim as general creditor.</p> <p>A depositor in the savings fund department of a bank, who directs the bank to withdraw $5,000 from his savings account and buy Victory Liberty Loan bonds for him is, as to that amount, no longer a depositor of the bank after his directions were acted upon and the withdrawal of $5,000 noted in his pass book.</p> <p>Where a bank buying large numbers of Liberty Bonds for its customers mingled all their payments in one general account, and purchased the bonds with the general fund, not for the special account of any particular individual, the purchaser of bonds is not entitled to impress the general funds with a trust in his favor. Such individual purchaser is a general creditor, postponed in the collection of his claim until the depositors are first satisfied.</p>