Wheeler v. National Bank

ERROR to the Superior Court of the city of New York.

This suit was brought by the Union National Bank of Pittsburg, Pa., against George M. Wheeler, as indorser of two bills of exchange, one dated Jan. 20, 1871, for $10,000, and one dated March 8, 1871, for $5,000, drawn by Slack, superintendent of the Brady's Bend Iron Company, on and accepted by the treasurer of said company, pursuant to authority vested in him for that purpose, and payable sixty days after their respective dates at the American Exchange National Bank of New York. The plaintiff discounted both bills for the benefit of the company: the first on the twenty-fourth day of January, 1871, and the second on the day of its date,-the company receiving the amount mentioned in the bills, less the sum of $246.

The rate of interest in Pennsylvania was six per cent per annum.

Said bills were duly protested for non-payment, and notice given to the defendant. There was no proof of the rate of exchange when they were discounted.

There was a judgment in favor of the bank, which was affirmed by the Court of Appeals of the State of New York, and the record remitted to the inferior court. Wheeler then brought the case here by a writ of error.

Mr. Thomas M. Wheeler for the plaintiff in error.

Mr. Joseph M. Dixon, contra.

MR. JUSTICE HARLAN delivered the opinion of the court.