Security National Bank v. Latimer
Security National Bank v. Latimer
Opinion of the Court
. In the early part of the year 1890 certain parties residing in Hall county undertook to organize a bank at Grand Island to be known by the name of the Security National Bank. On March -31,1890, one of these parties entered into a written contract with E. 0. Alden & Go., whereby that firm engaged to sell within thirty days |100,000 of the capital stock of the said bank. The consideration for such services was to be a retainer then paid of |500 and two and a half per cent of the amount which, through the agency of Alden & Go., should be disposed of. This contract was signed by J. M. Marsh, one of the promoters of the scheme, as “cashier Security National Bank (organizing).” The proposed organization was afterwards completed and Marsh, for a considerable length of time, was cashier of the bank while it was in active operation. During the summer of 1890 there arose a misunderstanding between Alden & Oo. and the officers of the bank with reference to the compensation to be paid Alden & Oo. The evidence does not show the exact nature of the trouble. It seems never to have been adjusted, and probably to this fact is traceable the litigation with which we are now called upon to deal. Alden & Oo. retained the entire amounts which that firm collected on subscriptions of stock procured by it and refused to pay any of these amounts to the bank until there should be. had a settlement of the commissions claimed to be due. Among the subscriptions of stock
It is urged by the bank that the original petition was framed on the theory that the subscription of the defendant in error had been obtained by fraudulent representations, and that, during the trial, leave to amend the petition was obtained upon the assurance of counsel for the defendant in error that the amendment was merely formal in its character. Without postponement of the trial this amendment, it is said, was made so as to incorporate into the petition after the allegation that “defendant [the bank] has never delivered any of said stock to plaintiff or offered so to do,” the additional -words, “but has refused, and still does refuse,-so to do.” It is admitted by the counsel for the plaintiff in error that after the above amendment had been incorporated into the petition there was an amendment made of the answer, by whi ch the allegation made by amendment of the petition was admitted to be true. It is insisted, notwithstanding these conceded facts, that there was error in the refusal of the court, on motion, to strike out the aforesaid amendment from the petition. In the first place we cannot sustain this contention, for the reason that the clerk of the district court has certified that the petition and answer were filed in the condition in which we now find them. To sustain the contention of counsel would
There are no special objections made to the instructions or to any ruling made in the course of the trial. Such objections as are made in a general Avay would, perhaps, be entitled to consideration if this case had been tried on the theory alone that the plaintiff’s money had been obtained by fraudulent representations. There was no question possible on the evidence that the firm of
Affirmed.
Reference
- Full Case Name
- Security National Bank of Grand Island v. Victorian D. Latimer
- Cited By
- 1 case
- Status
- Published