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Nieman v. Bethlehem Nat. Bank

Circuit Court of Appeals, Third Circuit
Jul 15, 1940
113 F.2d 717 (3d Cir. 1940)

Opinion

No. 7431.

July 15, 1940.

Appeal from the District Court of the United States for the Eastern District of Pennsylvania; William H. Kirkpatrick, Judge.

Action by Benjamin Nieman, receiver of The Bethlehem National Bank of Bethlehem, Pennsylvania, against Bethlehem National Bank, substituted trustee of the estate of Adam Brinker, deceased, to collect a stock assessment. From a judgment of the district court, 32 F. Supp. 436, for plaintiff, defendant appeals.

Affirmed.

Russell C. Mauch and Mauch Goodman, all of Bethlehem, Pa., for appellant.

H.P. McFadden, of Bethlehem, Pa., for appellee.

Before MARIS, JONES, and GOODRICH, Circuit Judges.


We agree with the conclusion reached by the district court, for the reasons satisfactorily stated in the opinion of Judge Kirkpatrick, 32 F. Supp. 436. We need only add that we see no basis for the defendant's contention that it is not liable for interest for the period during which the insolvent bank, of which the plaintiff is receiver, was trustee of the defendant estate. The stockholders' liability represented by the judgment recovered in this case was imposed for the benefit of the creditors of the bank, not of the bank itself. Dunn v. O'Connor, 67 App.D.C. 76, 89 F.2d 820. Consequently the right of the latter to interest from the due date of the assessment (Casey v. Galli, 94 U.S. 673, 24 L.Ed. 168) could not be prejudiced by the alleged neglect of the plaintiff and his predecessor in office to pay the assessment during that period.

The judgment of the district court is affirmed.


Summaries of

Nieman v. Bethlehem Nat. Bank

Circuit Court of Appeals, Third Circuit
Jul 15, 1940
113 F.2d 717 (3d Cir. 1940)
Case details for

Nieman v. Bethlehem Nat. Bank

Case Details

Full title:NIEMAN v. BETHLEHEM NAT. BANK

Court:Circuit Court of Appeals, Third Circuit

Date published: Jul 15, 1940

Citations

113 F.2d 717 (3d Cir. 1940)

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