Fourth National Bank v. StoutAnnotate this Case
113 U.S. 684 (1885)
U.S. Supreme Court
Fourth National Bank v. Stout, 113 U.S. 684 (1885)
Fourth National Bank v. Stout
Submitted January 12, 1885
Decided March 18, 1885
113 U.S. 684
When separate creditors unite in a suit in equity, each claiming his proportionate share of property of the common debtor in respondent's hands, and each recovers a separate decree for his pro rata share, the jurisdiction of this Court on appeal is, as to each creditor's appeal, to be determined by the amount in dispute in his case
This was a suit in equity begun by Stout, Mills & Co., judgment creditors of the Yeager Milling Company, to recover from the Fourth National Bank their pro rata share of certain property of the debtor company which was in the hands of the bank. The bank claimed a superior right to the property, and denied its liability to account to creditors therefor. The only questions in the case, as made by the bill, were: (1) whether the bank held the property, or the proceeds thereof, in trust for the creditors of the company, and if so (2) what was the pro rata share of the complainants. No decree was asked for any more than this share. The bank in its answer did not seek affirmative relief.
Upon the hearing, the court found that the bank did hold certain property in trust for the creditors, and sent the case to a master to ascertain the share of the complainants therein. In the interlocutory decree to this effect, leave was given other creditors to intervene pro interesse suo for the recovery of their respective pro rata shares of the trust property. Upon the coming in of the master's report, a final decree was entered:
"That the said complainants and the several intervenors severally have and recover of defendant, the Fourth National Bank of St. Louis, the several sums hereinafter stated, being the several pro rata shares, as ascertained by the said report of the special master pro hac vice, in the assets of the Yeager Milling Company, heretofore found by the interlocutory
decree herein of October 30, 1882, to have been wrongfully appropriated by said Fourth National Bank, as follows:"
Stout, Mills & Temple . . . . . . . . . . $3,591.32
Kidder, Peabody & Co. . . . . . . . . . . 2,658.72
R. Hunter, Craig & Co. . . . . . . . . . 1,072.26
Anton Kufike. . . . . . . . . . . . . . . 749.66
Merchant's Bank of Canada . . . . . . . . 391.23
The First National Bank of Chicago. . . . 527.41
"And to have each his several execution therefor, with his costs."
The bill was also dismissed as to all the defendants except the bank, and as to the bank except to the extent of the decree, in favor of the several creditors as above, such dismissal being "without prejudice to any claims or rights and claims of any defendant, as against each other, connected with the matters set forth in the master's report."
From this decree the bank appealed, and the appellees, the several creditors in whose favor the decree was rendered, now move to dismiss because the value of the matter in dispute between the bank and the several appellees does not exceed $5,000.
Official Supreme Court caselaw is only found in the print version of the United States Reports. Justia caselaw is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.