148 N.Y.S. 822 | N.Y. Sup. Ct. | 1914
This action is brought by the superintendent of banks of the state of New York for the purpose of enforcing the statutory liability against the defendants as stockholders of the failed Northern Bank of New York. Some of the defendants who were stockholders of record at the time the bank failed set up in their answers that they sold their stock in good faith prior to the insolvency to the firm of Tefft & Co., stockbrokers, composed of the defendants Tefft, Reeves, Carpenter and Nash. The first three named have served an amended answer and the last named has also answered separately, and in their amended answers to the complaint the said defendants plead as one defense that prior to the time when they were brought into the action the plaintiff had examined them, as members of the said firm, by their cashier, pursuant to a subpoena, and had stipulated on that examination that no liability should attach to that firm by reason of any facts brought out on such examination, and which defense further alleges that all the facts affecting the defendants constituting such firm of stock brokers set forth in the complaint were brought out on such examination. Another dbffense sét up by the same
Motions denied, with ten dollars costs to plaintiff, and to each of defendants separately appearing in opposition.
Motions denied, with ten dollars costs.