CARY v. THE SAVINGS UNION


89 U.S. 38 (____)

22 Wall. 38

CARY, COLLECTOR, v. THE SAVINGS UNION.

Supreme Court of United States.


Attorney(s) appearing for the Case

Mr. C.H. Hill, Assistant Attorney-General, for the plaintiff in error.


The CHIEF JUSTICE delivered the opinion of the court.

A distinction is expressly recognized in the act of Congress between interest and dividends, and the Circuit Court decided that the payments to the depositors were for dividends. The question is whether this decision was correct.

We think it was. The depositors contracted not for a rate of interest to be paid upon their deposits, but for a share of the profits of...

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