46 Neb. 663 | Neb. | 1896
On the 4th day of January, 1889, the plaintiff in error executed a chattel mortgage to the First National Bank of Crete, upon certain specific personal property, to secure the payment of his promissory note of $3,000, given on that date to the bank, and payable on April 22, 1889, with ten per cent interest from date. Subsequent to the maturity of the note the defendant in error seized and took into its possession the property described in the mortgage. Thereupon John Lanham brought this action of replevin against' the bank to recover the mortgaged chattels. A trial wW had to the court, with findings and judgment for the d&-' fendant. Plaintiff prosecutes error. ‘ ' '
The defendant claims the property under the chattel1 mortgage already mentioned. The evidence shows that Lanham borrowed of the defendant, at a usurio'us’ rate' of interest, the sum of $6,000, and gave his note therefor,' which note was renewed from time to time by the plaintiff giving new notes, the last renewál being the note' secured' by said mortgage. It is also disclosed that plaintiff' has
It is argued that the removal acts of congress have given the states control over national banks, and, therefore, such banks are subject to the remedies provided by the laws of the respective states wherein they are situated. We held adversely to this contention in Norfolk Nat. Bank v. Schwenk, 46 Neb., 381, supra, and that the removal acts did not make such banking institution liable to the penalties imposed by a state for receiving usurious interest, but the purpose of congress in enacting those laws was to prevent the removal of suits to which a national bank is a party from a state to a federal court. With the conclusion then reached we are content. .
■ Tt was likewise urged that by the proviso clause of section 4 of the act of congress, approved July 12, 1892, entitled “An act to enable national banking associations to extend their corporate existence, and for other purposes,” each national bank continuing its existence after the expiration of its original charter is subject to all laws-governing state banks where it exists and does business. The proviso reads as follows: “That the jurisdiction for.suits hereafter brought by or against any association established under any law providing, for national banking ássociations, except suits between them and the United States, or its officers and agents, shall .be the same 'as, and not other than, the jurisdiction for éuits by. of:a¿áinSt banks not brganized
. We have examined the case of ■ the State v. First NaU Bank of. Clark, 51 N. W- Rep. [S'.: Dale],.-587, cited by
We entertain no doubt that the rights and remedies of the parties herein are to be determined by the provisions of section 5198 of the Revised Statutes of the .United States. The decision of the court below being in harmony:with the conclusion we have reached, the judgment is
Affirmed.