Xenia Bank v. Stewart

Citations

• 114 U.S. 224
• 5 S. Ct. 845
• 29 L. Ed. 101
• 1885 U.S. LEXIS 1752

Syllabus

<p>The declaration of a cashier of a national bank concerning a disputed payment of money into the bank to take up a note left there for collection may be used by the plaintiff in a suit against the bank to recover the amount received by it from the sale of collateral held as security for the payment of the note — if the declaration was made at the time of the transaction, or in response'to timely inquiries by parties interested.</p> <p>It is within the scope of the general authority of the cashier of a national bank ‘ to receive offers for the purchase of securities held by the bank, and to state whether or not the bank owns securities which a customer wishes to buy.</p> <p>A statement by the cashier of a national bank that the bank is not the owner of a security in his manual possession as cashier, is within the line of his duty, and is admissible in evidence against the bank as the act of its authorized agent.</p> <p>A letter signed by a cashier of a national bank on official paper of the bank, respecting the transaction which forms the subject of the controversy, written to a party to the transaction, and while it was going on, is admissible in evidence, in a suit against the bank.</p> <p>On an issue whether a deceased party had furnished money to pay a- note, it is not allowable to attempt to show that for more than a year previous he had been hopelessly insolvent, and had experienced great difficulty in procuring means to meet his obligations.</p> <p>A creditor of a person having possession of property of the debtor, cannot, without judicial process, and against the debtor’s will, sell the property and apply its proceeds to the payment of his debt.</p>