Northwestern Trust Co.'s Case (No. 2)

Supreme Court of Pennsylvania

Northwestern Trust Co.'s Case (No. 2)

14 A.2d 102, 339 Pa. 11, 1940 Pa. LEXIS 573

CourtSupreme Court of Pennsylvania

DecidedMay 10, 1940

Docket2; Appeal, 352

StatusPublished

This text of 14 A.2d 102 (Northwestern Trust Co.'s Case (No. 2)) is published on Counsel Stack Legal Research, covering Supreme Court of Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Northwestern Trust Co.'s Case (No. 2), 14 A.2d 102, 339 Pa. 11, 1940 Pa. LEXIS 573 (Pa. 1940).

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Opinion

Opinion by

Mr. Justice Stern,

When the Northwestern Trust Company went into the possession of the Secretary of Banking on July 17, 1931, it was the owner of a large number of shares of stock in the Christian A. Fisher Building and Loan Association, in the Fred Schmidheiser Building and Loan Association and in the Successful Building Association. At the audit of the third and partial account of the receiver of the Trust Company the court refused to allow him to set off the value of this stock against the deposit balances of these Associations, and he appeals from that ruling. For the reasons set forth in the preceding opinion (in re appeal No. 376, Jan. T., 1939) the decree of the . court below is affirmed, the costs to be equally apportioned among the receiverships of the Trust Company and each of the Building and Loan Associations.

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Opinion by

Mr. Justice Stern,

When the Northwestern Trust Company went into the possession of the Secretary of Banking on July 17, 1931, it was the owner of a large number of shares of stock in the Christian A. Fisher Building and Loan Association, in the Fred Schmidheiser Building and Loan Association and in the Successful Building Association. At the audit of the third and partial account of the receiver of the Trust Company the court refused to allow him to set off the value of this stock against the deposit balances of these Associations, and he appeals from that ruling. For the reasons set forth in the preceding opinion (in re appeal No. 376, Jan. T., 1939) the decree of the . court below is affirmed, the costs to be equally apportioned among the receiverships of the Trust Company and each of the Building and Loan Associations.

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Bluebook (online)

14 A.2d 102, 339 Pa. 11, 1940 Pa. LEXIS 573, Counsel Stack Legal Research, https://law.counselstack.com/opinion/northwestern-trust-cos-case-no-2-pa-1940.