Mississippi Central Railroad v. Conner

Citations

• 114 Miss. 63
• 75 So. 57

Syllabus

<p>1. Banks and Banking. Pleading. Petition. Sufficiency. Special deposit. General deposit.</p> <p>All deposits in a bank are prima facie general deposits-; the sine qua non of special deposits is that the identical money deposited is to be kept apart from the general funds of the bank, to be returned to the depositor or paid to some other person designated when the money is deposited.</p> <p>2. Same.</p> <p>Where a petition is filed in the chancery court claiming a prefer' ence over the general creditors of an insolvent bank on the ground that a deposit was a special deposit, such petition is demurrable if it fail to specifically allege facts which show that the deposit was a special and not a general deposit.</p> <p>3. Banks and Banking. General deposits. Special deposit.</p> <p>Where a railroad company under arrangement with a bank used it as a depository for the weekly receipt of its local office, to be held by it until the end of the week, when the railroad company checked it out and transferred it to its regular depository without any agreement that the identical money deposited was to be kept apart from the general funds of the bank, in such case the deposit was not a special deposit and the railroad company was not entitled to preference over general creditors of the bank when the bank became insolvent.</p>