HOTCHKISS v. NATIONAL BANKS


88 U.S. 354 (____)

21 Wall. 354

HOTCHKISS v. NATIONAL BANKS.

Supreme Court of United States.


Attorney(s) appearing for the Case

Mr. F.N. Bangs, for the appellant; Mr. J.S. Woodward, for the Tradesmen's National Bank, one of the appellees; and Mr. Henry N. Beach, for the National Shoe and Leather Bank of the City of New York, another.


Mr. Justice FIELD, having stated the case, delivered the opinion of the court, as follows:

The character and form of the instruments which are the subject of controversy in the present suit, would seem to furnish an answer to the questions that are raised before us. The agreement respecting the scrip preferred stock is entirely independent of the pecuniary obligation contained in the instrument. The latter recites an indebtedness...

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