Carter v. Dime Savings Bank
Carter v. Dime Savings Bank
Opinion of the Court
In 1894 the Dime Savings Bank of Omaha found itself unable to meet the demands of its depositors, and its directors concluded to, and did, close ‘such bank so far as related to the receipt of deposits and the carrying on of general business. Under an agreement entered into between it, though its directors, and one John G-. Oortelyou, its acting cashier, the assets of the bank were turned over to the latter, he agreeing to meet all demands of its depositors out of the assets of the bank; or, if necessary, out of money by him to be advanced on its behalf out of his private funds. About April 5, 1895, Annette C. Carter commenced suit in the district court of Douglas county against said bank, its officers and Cortelyou to recover certain sums by her deposited in said bank, and obtained a temporary injunction, afterwards made
While several questions of law are argued, the pivotal one is that presented by Cortelyou’s answer, wherein it is alleged that he had, in obedience to the order of the federal court, turned these assets over to its receiver, as the conclusion to which we 'have come relative thereto is decisive of the case. By the injunction Cortelyou was inhibited from turning over to any third person or in any way disposing of these assets. It is claimed that he had not the power to deliver them to said receiver; or if he did, it was in disobedience of the order of the state court. We think hot. The record is conclusive that their delivery to the receiver was involuntary, and on the order of the federal court, after Cortelyou had presented to it the fact that he had been enjoined from disposing of them. It is manifest that his action was involuntary, and was in conformity to his duty in the premises. It is urged, however, that the issuance of an injunction by the state court
It is further contended that the record shows that he in fact received from the receiver money upon which this judgment is a lien, and that he should have been directed to turn this into court. The evidence was sufficient to sustain the court in holding that this money was merely property of Cortelyou, being money advanced by him out of his private funds to satisfy certain creditors of the bank, and in no sense assets of the latter.
There is no error in the proceeding, and the order of the district court is
Affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.