25 N.Y.S. 767 | The Superior Court of the City of New York and Buffalo | 1893
The petitioner, a depositor with the Canal Street Bank, prior to June 5, 1893, deposited with it for collection three notes, falling due on that day. The notes were collected and were on the same day passed to the petitioner’s credit in like manner as checks deposited and collected on that day would have been passed. The transaction created nothing more nor less than the ordinary relation of debtor and creditor between the parties, and the bank had the right to mingle the funds collected with its own, a privilege it no doubt exercised. The petitioner is consequently left with .the like remedies possessed by other depositors, and has no higher equities or claim to favor. The fact that the bank did not open the following day, (June 6th,) and subsequently passed into the hands of a receiver, does not change the legal result declared. The petitioner must therefore come in with the other creditors for his share
