Quinn

Quinn v. Central Co.

Good Law
104 F.2d 450·1939 U.S. App. LEXIS 4155
United States Court of Appeals for the Ninth CircuitJune 15, 1939No. 8860California2,215 words

Opinion

Lead Opinion

Haney, J.

Appellant suffered an adverse decree in her suit to rescind certain purchases of bonds from a national bank and a trust instrument executed by appellant in which the national bank was named as trustee.

Appellant was born . in 1866, and has been a widow since 1902. During the period after 1926 she has had poor health. The Central Bank of Oakland, formerly the Central Savings Bank of Oakland, a California Banking Corporation, hereinafter called the state bank, was organized in 1891. *451 The Central National Bank of Oakland, a national banking association, hereinafter called the national bank, was organized in 1909. During the times material herein, the two banks carried on their respective businesses in the same premises.

Bothwell was an employee of the national bank for more than ten years prior to January 7, 1926, and appellant, who had carried an account in both banks during that time became well acquainted with him. Bothwell, prior to January 7, 1926, became manager of the bond department in the national bank. Between January 7, 1926, and August 16, 1929, appellant purchased from the national bank 17 groups of bonds having a total par value of $96,000 at a cost of $94,472.50.…

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