Spratt v. Livingston

Citations

• 32 Fla. 507

Syllabus

<p>1. By the act of Congress passed in 1881, Chapter 64, United States Statutes at Large, amending- the original and amend-atory act creating the Freedman’s Savings and Trust Company, the Secretary of the Treasury was authorized and directed to appoint the Comptroller of the Currency a com-missioner of said company for the purpose of disposing of its property and winding up its business. Upon his qualifying by taking the oath and giving the bond prescribed in the . act, the Comptroller of the Currency, as such commissioner, became invested with the legal title and possession of all the property of said company, and clothed with all the rights and privileges, and required to perform all the duties of the three commissioners appointed under the amendatory act of 1874, Chapter 349, whose functions ceased upon the appointment and qualifieat'on of the Comptroller as such commissioner.</p> <p>T. The purpose, as well as the effect, of the amendatory act of Congress making the Comptroller of the Currency a commissioner of the Freedman’s Savings and Trust Company, was to invest him, as such commissioner, with the property, management and disposition of the affairs of said company for the purposes of liquidation, and he thereby became the statutory substitute and successor of the corporation itself, and not a mere trustee of the bare legal title of its property.</p> <p>3. C. instituted a suit of attachment in the State Circuit Court against the Comptroller of the Currency, as Commissioner of the Freedman’s Savings and Trust Company, to recover for services rendered and money expended by him as agent of said commissioner in winding up a branch business of said company in the State; the commissioner appeared and interposed ideas to the merits of the suit, and after trial, judgment was rendered in favor of G., and real ■estate in possession of the commissioner was sold under execution emanting from the judgment, and L. became the purchaser at said sale ; no objection was made by