Hoskins v. Velasco National Bank

107 S.W. 598, 48 Tex. Civ. App. 246, 1907 Tex. App. LEXIS 217
CourtCourt of Appeals of Texas
DecidedDecember 16, 1907
StatusPublished
Cited by18 cases

This text of 107 S.W. 598 (Hoskins v. Velasco National Bank) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Hoskins v. Velasco National Bank, 107 S.W. 598, 48 Tex. Civ. App. 246, 1907 Tex. App. LEXIS 217 (Tex. Ct. App. 1907).

Opinion

McMEANS, Associate Justice.

The Velasco National Bank and all its stockholders, A. E. Toebelman, Lewis B. Bryan, A. Blum, M. Lasker, C. F. Hellmuth, Mrs. Janet Miller, F. B. Chilton, Sol Tern, Mrs. A. Bowers, joined by her husband, Albert Bowers, sue W. W. Hoskins, V. E. Hoskins and S. H. Hudgins, alleging that “on the 1st day of March, 1904, when the said Velasco Bank was *248 placed in voluntary liquidation by the stockholders thereof, it was proposed to the said stockholders of the Velasco National Bank by the said W. W. Hoskins, V. E. Hoskins and S. H. Hudgins that they, the said Hoskins and Hudgins, had formed a private banking firm, known as the Bank of Velasco, for the purpose of succeeding to the business of the said Velasco National Bank, and that if the stockholders of the said Velasco National Bank would turn over its assets and business to the Bank of Velasco, the latter bank would assume the obligation of said Velasco National Bank and pay same to depositors and other creditors and would collect and distribute said assets to the said stockholders of said National Bank without charge therefor to said stockholders. . . .”

That in accordance with resolutions passed, “the stockholders of said bank, on March 1, 1904, did turn over and deliver into the possession of said W. W. Hoskins, V. E. Hoskins and S. H. Hudgins, composing the firm of the Bank of Velasco, all of the assets, money, property arid business of the Velasco National Bank ... to be collected and converted into money and the debts of said Velasco National Bank paid and the balance distributed to the shareholders in said Velasco National Bank. . . .

“That by reason of the premises the said W. W. Hoskins, V. E. Hoskins and S. H. Hudgins became liable to and promised the said Velasco National Bank and other plaintiffs and each and every stockholder of said bank to pay each and every depositor and other creditors of said bank,”

“These plaintiffs further say that the said Bank of Velasco and the said W. W. Hoskins, V. E. Hoskins and S. H. Hudgins, composing said firm, became trustees. and agents for these plaintiffs for. the prompt collection and proper disposition and distribution of the assets and property of said Velasco National Bank, and the said Hoskins and Hudgins aforesaid, for a valuable consideration to them moving from the said Velasco National Bank and the stockholders thereof, to act for and to become trustees and agents for said bank and the stockholders in said Velasco National Bank,” etc.

“Plaintiffs further say that the said Bank of Velasco and the said W. W. Hoskins, V. E. Hoskins and S. H. Hudgins, composing said firm, became trustees and agents for these plaintiffs and the other stockholders in the Velasco National Bank and for said Velasco National Bank, for the prompt collection of and proper disposition and distribution of the assets and property of said Velasco National Bank, and the said Hoskins and Hudgins undertook, for a valuable consideration, to act for and become trustees and agents of said bank and the stockholders in said Velasco National Bank for the purpose aforesaid. That one Ered Bagby was at the time a depositor in said Velasco National Bank and a creditor to the extent of $499. That he brought suit and recovered judgment against the Velasco National Bank for the sum of $499, with six percent interest thereon from November 29, 1905, together with costs, which the Velasco National Bank has paid.”

Defendant W. W. Hoskins answered by plea in abatement of plaintiffs’ cause, setting up his discharge in bankruptcy, attaching *249 to his said answer tlie orders and decrees showing the proceedings in bankruptcy and his discharge as a bankrupt in the United States District Court for the Southern District of Texas, at Galveston; by general demurrer and general denial; by answer setting up his adjudication and discharge in bankruptcy.

Plaintiffs filed supplemental petition alleging that the answer of W. W. Hoskins insofar as same pleads a discharge of said Hoskins in bankruptcy from indebtedness sued on herein by plaintiffs, and especially by the plaintiff, Velasco National Bank, shows no discharge from the indebtedness sued on in this cause; by general denial of all allegations in answer of said W. W. Hoskins; and that, as alleged in the original petition, the defendant, W. W. Hoskins, was the cashier and one of the directors of the plaintiff, Velasco National Bank, on March 1, 1904, when said bank went into liquidation; and that said defendant, Hoskins, when he filed his petition in bankruptcy, on April 18, 1905, did not schedule the indebtedness sued on herein in the name of the Velasco National Bank or of any of the individual plaintiffs, but that same was entered on the said schedule in the name of Fred Bagby. Plaintiff averred that the said defendant, W. W. Hoskins, is not discharged from his liability to the plaintiff, the Velasco National Bank, nor to the individual stockholders thereof who are plaintiffs herein, for the following reasons:

“That, as is alleged in plaintiffs’ original petition filed herein, at the time the Velasco National Bank was liquidated, this defendant, W. W. Hoskins, together with his codefendants, represented to these plaintiffs that they, the three defendants herein, had formed a partnership, known as the Bank of Velasco, and that they contemplated and would do a private banking business under_ said name, and that now and since said time the said defendant, and his two codefendants, Hudgins and Hoskins, are claiming now and have claimed that they did not form any such partnership, and these plaintiffs now say that if it be found as a fact upon the trial of this case that no such firm as the Bank of Velasco was formed by the three defendants herein, and if no banking business was conducted or done by said three defendants, under the name of Bank of Velasco, then and in that event these defendants and especially this defendant, W. W. Hoskins, acquired possession of the property of plaintiff, the Velasco National Bank and these stockholders, by false pretense and false representations, and that the money and assets and property of the said Velasco National Bank would not have been delivered over and given into the possession of the said defendants, or either of them, had such representations not been made.

“That said indebtedness herein sued on never was scheduled by said W. W. Hoskins in bankruptcy in the name of either the Velasco Bank or in the name of one or all of the plaintiffs, who are stockholders of said bank, but that the indebtedness was scheduled in the name of Fred Bagby; that Bagby was never a creditor of said Hoskins or the Bank of Velasco, but was a creditor of the Velasco National Bank; that plaintiff had no knowledge of the fact *250 that said Bagby had refused to transfer his account from the Velasco Rational Bank to the Bank of Velasco, until the suit was brought against said Velasco Rational Bank by said Bagby; that the judgment rendered in said suit of Bagby v. Velasco National Bank was paid by said bank on April 24, 1906, and assignment thereof taken in name of L. R. Bryan as trustee; that the money so paid Bagby was out of the assets of the said Velasco Rational Bank in the hands of said Bryan; that they had no knowledge of the facts concerning the claim of said Bagby until the determination of the said suit of Bagby v. Velasco National Bank, and therefore plaintiffs, or.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Friendly Finance Co. v. Stover
134 S.E.2d 837 (Court of Appeals of Georgia, 1964)
Blue Bonnet Creamery, Inc. v. Gulf Milk Ass'n
136 So. 2d 445 (Louisiana Court of Appeal, 1961)
Squyres v. Rowan & Nichols Oil Co.
109 S.W.2d 511 (Court of Appeals of Texas, 1937)
Travelers Ins. Co. v. Gibson
110 S.W.2d 241 (Court of Appeals of Texas, 1937)
Underwood v. Ajax Rubber Co.
296 S.W. 964 (Court of Appeals of Texas, 1927)
Waggoner v. Herring-Showers Lumber Co.
288 S.W. 260 (Court of Appeals of Texas, 1926)
J. W. Ward Farming Co. v. Searcy
257 S.W. 653 (Court of Appeals of Texas, 1923)
Kerbow v. Wooldridge
184 S.W. 746 (Court of Appeals of Texas, 1916)
Fletcher v. Puckett
170 S.W. 831 (Court of Appeals of Texas, 1914)
Young v. Bundy
158 S.W. 566 (Court of Appeals of Texas, 1913)
Guerra v. Guerra
158 S.W. 191 (Court of Appeals of Texas, 1913)
First State Bank of Seminole v. Shannon
159 S.W. 398 (Court of Appeals of Texas, 1913)
Walter Box Co. v. Blackburn
157 S.W. 220 (Court of Appeals of Texas, 1913)
Peoples v. Brockman
153 S.W. 907 (Court of Appeals of Texas, 1913)
Kirkpatrick v. San Angelo Nat. Bank
148 S.W. 362 (Court of Appeals of Texas, 1912)

Cite This Page — Counsel Stack

Bluebook (online)
107 S.W. 598, 48 Tex. Civ. App. 246, 1907 Tex. App. LEXIS 217, Counsel Stack Legal Research, https://law.counselstack.com/opinion/hoskins-v-velasco-national-bank-texapp-1907.