McGuire v. Louis Snider Paper Co.

4 Ohio N.P. 262
CourtOhio Superior Court, Cincinnati
DecidedJuly 15, 1897
StatusPublished

This text of 4 Ohio N.P. 262 (McGuire v. Louis Snider Paper Co.) is published on Counsel Stack Legal Research, covering Ohio Superior Court, Cincinnati primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
McGuire v. Louis Snider Paper Co., 4 Ohio N.P. 262 (Ohio Super. Ct. 1897).

Opinion

HUNT, J.,

Smith and Jackson, J.T., concurring.

This case comes before the court on reservation from the Special Term.

The questions presented for consideration are :

First. The motion of the plaintiff filed July 21, 1896, for leave to file supplemental affidavit.

Second. The motion of the defendant filed November 19. 1896, to dismiss the second order of attachment issued February 19, 1896, on the ground that the facts stated in the affidavit on which the order of attachment issued, are not sufficient in law, to entitle the plaintiff to an attachment, and hence that it is not true that defendant fraudulently contracted an obligation to plaintiff as alleged in the affidavit.

Third. The motion of the defendant tiled November 19, 1896, to strike the plaintiff’s so-called Supplemental Petition filed July 21st, 1896, from the files on the ground that the same was filed without leave of court, and without notice to the defendant, and that it does not allege facts material to the case which occurred suosequent to the filing of the original petition ; and

Fourth. The motion of defendant filed February 27, 1897, to strike from the files the plaintiff’s second Supplemental Petition, filed January 25, 1897, on the ground that the so-called supplemental petition does not allege any facts occurring, subsequent to the filing of the former petition, which are material to the case stated in the petiiton, and because the so-called supplemental petition sets up a new cause of action of a different character from and indepedent of the cause in the original petition.

The petition alleges for a first cause of action, that on the 22d day of May, 1896, the defendant, by its duly authorized officer, came to the plaintiff and requested the plaintiff to give the defendant financial aid. Thereupon the plaintiff agreed to accommodate the defendant and to execute two promissory notes,dated May 22, 1896, drawn by plaintiff to the order of the defendant, and payable in three and four months from date, respectively, each of said notes to be for the sum of 81,250, and to deliver the same to the defendant, to be negotiated by the defendant for its own use and benefit, and in consideration thereof, the defendant promised to execute its note, dated February 22, 1896, to the order of the plaintiff, payable in four months from date, for the sum of twenty-five hundred dollars, and to deli ver the same to the plaintiff, with such additional security to the note as would be satisfactory to the plaintiff, in order to secure the plaintiff from all loss or damage by reason of the execution and delivery of the first named notes. “It is further alleged that, relying solely upon said agreement, tne plaintiff, on the same day, executed and delivered to the defendant, two notes, each for the sum of twelve hundred and fifty dollars, for its accommodation, and that the defendant, on the same day, executed and delivered to the plaintiff its note for twenty-five hundred dollars, and at the same time agreed to deliver to the plaintiff, on the following morning, the collateral to secure the note; that the defendant failed to deliver said collateral securities on the following morning, and still fails to deliver the same, although frequently demanded, and now declines to give plaintiff any collateral security.

Then follows an allegation of the threatened transfer of the notes, and a prayer for an injunction.

The petition, for a second cause of action, alleges substantially the same state of facts as set forth in the first cause of action, but avers further, that by reason of the defendant thus obtaining the two notos, without delivering to the plaintiff the collateral security as ageed upon, and converting them to the use of the defendant, the defendant fraudulently contracted the obligation, and became indebted to the plaintiff in the sum of S2,500, with interest from May 22, 1896.

The defendant, by its answer filed July 15, 1896, admits that on the 22d day of May, 1896, the plaintiff executed his promissory notes to the order of the defendant, payable in three and four months, respectively, each of said notes being for the sum of 81,250, but denies each and every other allegation in the petition. The defendant claims that the only notice it had of the transaction was that on the 22d day of May, 1896. W, D. Garrison, who was then its treasurer, being indebted to this defendant in the sum of 83,500 for money of the company which he had wrongfully appropriated to his own use, had been requested by the defendant to make the deposit good; that on the 22d day of May 1896, a meeting of the directors of the defendant company was held, the object of which was to give Garrison an opportunity to make good the shortage; that Garrison was present at the meeting and made a statement to the directors to the effect that 82,500 had been deposited in the Market National Bank, of Cincinnati, to the credit of the defendant,and to apply towards the liquidation of the amount which Garrison owed the defendant; that this was the first notice the said directors had of such deposit; that at the meeting the bank pass-book of the defendant being produced, it showed a deposit in the Market National Bank to the credit of the defendant, the sum of 82,466. 25, in the nature of discounted notes; that a committee was appointed by said directors to investigate the matter, and the committee ascertained at the bank, that the discount represented the proceeds of the two notes drrawn by M. A. McGuire, and made payable to the Louis Snider Paper Co., which notes are, in all .probability, the .two notes mentioned in the plaintiff’s petition ; that [264]*264at the same meeting, the resignation of W. D. Garrison, as treasurer of the company, was accepted, and since that time he has not been treasurer or other officer of the company, except that he has continued to retain his position as director.

The answer further avers that the first notice it ever had, that the two notes, each for SI,250, mentioned in the plaintiff’s petition, were obtained from the plaintiff under the alleged circumstances, was from the petition in the case; that it has no knowledge of the facts, and therefore denies the same; that it is informed, and charges the facts to be, that said notes were obtained by Garrison for his own benefit, and for the purpose of making good his shortage to the company; that the defendant did not execute the note for S2,500 mentioned in said petition, nor did it promise the plaintiff to give him security for the notes; that it is informed and believes that the said Garrison promised to give the plaintiff collateral security on his own responsibility ; that if Garrison, or any other officer of the company, executed and delivered to the plaintiff, a note for $2,500, or asked the plaintiff co accommodate the use of his paper, or promised to give him collateral security to indemnify him on the notes mentioned in the petition, the officers acted without authority and without notice on the part of the directors of the company.

The plaintiff filed a supplemental petition on July 21, 1896, in which the plaintiff reaffirms all matters and things set forth in his original petition, and further says, that previous to the 22d day of July, 1896, the day on which he gave him his notes for 81,250 each, to the defendant, for its accommodation, on condition that the defendant would give him its own note for 82,500, secured to the satisfaction of the plaintiff, the Louis Snider Paper Company, the defendant knew that its treasurer, W. D.

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Bluebook (online)
4 Ohio N.P. 262, Counsel Stack Legal Research, https://law.counselstack.com/opinion/mcguire-v-louis-snider-paper-co-ohsuperctcinci-1897.