The Morris Canal and Banking Company carried on banking business in New-Jersey in pursuance of their charter, and transacted an exchange business in the city of New-York, where they made the loan for the recovery of which this suit is brought. The restraining act (1 R. S. 712, § 6) prohibits the keeping of an office of discount and deposit for the transaction of business; but the making of a single loan, in good faith, cannot be a violation of its provisions. The loan in this case, it is true, may have been disguised for the purpose of evading the statute, and if such was its character a recovery ought to have been defeated. Whether so or not, however, was a question of fact; and, in the absence of
Franklin, Senator, also delivered an opinion in favor of affirming the judgment.
On the question being put, “ Shall this judgment be reversed 1” all the members of the court present who heard the argument, voted for affirming.
Judgment affirmed.
