Towson v. Cole

6 Ohio N.P. (n.s.) 388
CourtFairfield County Court of Common Pleas
DecidedJuly 1, 1906
StatusPublished

This text of 6 Ohio N.P. (n.s.) 388 (Towson v. Cole) is published on Counsel Stack Legal Research, covering Fairfield County Court of Common Pleas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Towson v. Cole, 6 Ohio N.P. (n.s.) 388 (Ohio Super. Ct. 1906).

Opinion

Reeves, J.

Heard on ease presented by cross-petition of John B. Kramer, treasurer of Fairfield county, Ohio.

In this ease the defendant, John B. Kramer, files his cross-petition in which he avers that there was a partnership composed of Towson, Martin and Cole, under the name and style of the Lancaster Bank, doing a banking business in the city of Lancaster; and on July 26, 1904, such proceedings were had that Henry B. Peters was appointed receiver of said bank and took charge of .the books, papers, etc,, and was at the time of the filing of this cross-petition engaged in administering the trust for the benefit of the creditors; and for his cause of action and the foundation of his prayer for relief says, that on July 8, 1904, he left with said defendant, the'Lancaster Bank, for collection, various checks and drafts, aggregating in amount the sum of $5,516.33, and from the eighth to the twenty-fifth of July inclusive, the aggregate of such sums being $20,589.70. He says that he kept no memorandum .nor .record of the various checks or drafts, and that for want of such record or any other means of identification he has been unable to describe the various checks and drafts, and says that- the defendant, the Lancaster Bank, has kept such memorandum.

The cross-petitioner, Kramer, states that at the time he made such deposits he was the treasurer of the county of Fairfield and state of Ohio, and that .those checks and drafts had been received by him as such treasurer in payment of certain taxes which the defendant, the bank, knew, and that there was an agreement between him and the bank that the bank was to collect these various checks and drafts and pay over the amount collected to him. And he avers that the bank has not done so; and that he is unable to make any statement or definitely set out what amounts, if any, had been collected. • He avers that this is known to the defendant, the bank, and to Peters, the receiver; he also avers that he does not know what amounts have been collected, but that this is known to the bank and to the receiver.

He also avers that at the .time these deposits were made the [390]*390bank was insolvent and unable to properly meet its obligations, and he makes the averment that the defendant fraudulently received those checks, having knowledge of that fact. lie again avers that neither the bank nor any of its agents or owners ever paid him any part of those various checks, nor has the receiver, Peters, although he has made demand upon the bank and the receiver; and then follows a prayer for an accounting, and he avers that by reason of those acts that he is entitled to a preference over and above the general creditors.

To that cross-petition there was also an amendment filed, which repeats the fact that he was the duly elected, qualified and acting treasurer of Fairfield county, Ohio; that the checks and drafts were received by him in payment of taxes and were the property of himself as such treasurer of Fairfield county, and that this was well known to the bank at the time the checks and drafts were deposited.

To this cross-petition an answer is filed by the bank, in which ■they say that none of the checks and drafts mentioned were ever received by said bank for the purpose of collection by said bank; that on the contrary the cross-petitioner delivered all said checks and drafts to the Lancaster Bank, which then and thereby became the owner of said checks and drafts, and that the bank concurrently delivered to him the various certificates of deposit in the aggregate sum of $20,589.70; that the said bank did not at any time agree -to collect the said checks and drafts or any of them, for the said Kramer, but it made all such collections of such drafts and checks on its own account, and the money and proceeds which it collected thereon belonged to it and not to said Kramer, and the said proceeds and moneys so by it received, when the said checks and drafts were passed and went into the funds a,nd moneys of said bank, or were placed to the credit of said bank, with its various correspondents in other cities than the city of Lancaster, Ohio, wherever said chefeks and drafts were payable; that at the commencement of this action the said Lancaster Bank was indebted to the said cross-petitioner, John B. Kramer, on said certificates of deposit in the- sum of $20,589.70, less the sum of $2,100 which had been [391]*391theretofore paid to said Kramer on said certificates, but the payment of said sum was not credited thereon; that the said Lancaster Bank did not agree with said Kramer or bind itself to keep the moneys and proceeds paid to it on said checks and drafts separate and apart from its other funds and moneys and the said bank was under no obligation to do so, and the said moneys and proceeds by it received on said checks and drafts were all the time commingled with, and became part of, the moneys of said bank, and the identity of the same wholly lost and destroyed, nor did the said bank ever agree or bind itself to or with the said John B. Kramer to return and deliver to him the identical money by it received on said checks and drafts.

I will not read the entire answer; it practically traverses all the material facts of this cross-petition which would tend to establish on the part of this cross-petitioner, Kramer, any right whatever to a- preference. It will be observed that there was no dispute between these parties as to the amount- of the checks and drafts received. The point of the contention is, whether they were deposited for collection or were merely deposits.

It is alleged in the answer to this cross-petition that $2,100 was paid, which I believe was denied in the reply. The testimony upon that point shows that it was not paid on those certificates at all, but it does appear in regard to that transaction that there had been a habit between the treasurer and the auditor from time to time of issuing what is known as refunders-, which were generally small items aggregating in the course of several months considerable sums; it was the habit of the treasurer to carry these refunders along and make a settlement with the auditor and commissioner, and receive one voucher for the whole business, and at certain times it had been the practice of the examiners of the treasurer to treat them as cash. Some of the examiners refused to do that, and as a matter of accommodation to the parties Mr. Kramer sent his own check down to the amount of $2,100, and asked .the bank to carry that for him and as a matter of accommodation, and the bank [392]*392did. that; but that transaction was on June 5, and was prior to all these certificates, so that it had no connection whatever with those certificates of deposit. The defendant, Kramer, in his cross-petition, claims a preference on the fund in the hands of the receiver, and I might state that at the time- the bank went into the hands of this receiver there was something like $5,000 or $6,000 actual money toned over to -the receiver.

It appears from the testimony introduced here that there was a large amount of loans, and as I remember as far as the evidence shows all of these loans were prior to the date of this first certificate; that is, there is no evidence tending to show that these loans were made subsequent to the issuing of this first certificate of deposit. It appears from the testimony that for some cause, by reason probably of some rumors circulating on the' street, the confidence of the public in the bank was shaken, and there was a run on the bank,. lasting something over two days; and that the bank was paying out the money it had.

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Bluebook (online)
6 Ohio N.P. (n.s.) 388, Counsel Stack Legal Research, https://law.counselstack.com/opinion/towson-v-cole-ohctcomplfairfi-1906.