BANKS AND BANKING-NATIONAL BANKS SUBJECT TO STATE STATUTE PROVIDING REWARD FOR FINDERS OF LOST GOODS

Authors

Abstract

Plaintiff found $105,000 hidden in a roadside junk heap. The money had been stolen from defendant national bank in an early morning hold-up, and cached by the robbers in the rubbish pile, With the police, plaintiff returned the money to the bank. Plaintiff then sued the bank for a ten per cent reward provided by an Iowa statute for the return of "lost goods." The Supreme Court of Iowa reversed a decision that the statute did not apply to stolen money. In a rehearing, defendant put in an amended plea that the statute could not impose any liability on national banks, since national banks were solely under the control of Congress, and Congress had not given consent to such legislation. Held, that the statute did apply to national banks, and plaintiff was entitled to the reward. Flood v. City Nat. Bank of Clinton, (Iowa 1915) 263 N. W. 321.

Recommended Citation

BANKS AND BANKING-NATIONAL BANKS SUBJECT TO STATE STATUTE PROVIDING REWARD FOR FINDERS OF LOST GOODS, 34 Mich. L. Rev. 879 (1936).
Available at: https://repository.law.umich.edu/mlr/vol34/iss6/11