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BOWERY SAV. BK. v. SAV. BANKS LIFE INS. FUND

277 A.D. 227 (1950)

Bowery Savings Bank, Plaintiff, v. Savings Banks Life Insurance Fund, Defendant

Appellate Division of the Supreme Court of the State of New York, First Department.

June 13, 1950.

Attorney(s) appearing for the Case

Jacquelin A. Swords of counsel (C. Gorham Phillips with him on the brief; Cadwalader, Wickersham & Taft, attorneys), for plaintiff.

Samuel M. Lane of counsel (J. Kenneth Campbell with him on the brief; Baldwin, Todd & Lefferts, attorneys), for defendant.

GLENNON, COHN, VAN VOORHIS and SHIENTAG, JJ., concur.

PECK, P. J.

This is a submitted controversy as to the right of defendant, Savings Banks Life Insurance Fund, to repay to plaintiff, one of the banks participating in the New York savings bank life insurance system, the sum of $19,000, representing the investment in the Fund of North River Savings Bank, which merged with plaintiff after both banks had established insurance departments and become members of the...

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