Samuel Blatchford

“ Knowing, from what passed between Maas and Judah, that the bonds were to be used to raise money for the benefit of Walker, Sons & Co., and knowing that such use was an improper disposition of the bonds, unless the transaction were affirmatively and directly sanctioned by the plaintiff, the defendant became a party to the misappropriation of the bonds. It is immaterial, in this view, whether or not the defendant received any portion of the money loaned by the Bank of Commerce on the security of the bonds. ”

“ Under the circumstances of the case, the receipt having been made out by Maas, the assistant cashier, and sent by him to the plaintiff, on the request of Judah made on her behalf, the statement in the receipt that Judah, agent for the plaintiff, had placed the securities with the defendant on special deposit, must be regarded as virtually a statement that the plaintiff, by Judah, as her agent, had placed the securities with it on special deposit. ”

“ On this state of facts, this court said, (page 702:) 'If a bank be accustomed to take such deposits as the one here in question, and this is known and acquiesced in by the directors, and the property deposited is lost by the gross carelessness of the bailee, a liability ensues in like manner as if the deposit had been authorized by the terms of the charter.' In support of this proposition the court cited the cases of Foster v. Bank, 17 Mass. 479; Bank v. Smith, 62 Pa. St. 47; Scott v. Bank, 72 Pa. St. 471; Bank v. Graham, 79 Pa. St. 106 ”