People v. Merchants' Trust Co.

Motion granted for leave to go to Court of Appeals, and questions certified as follows: (1) Are depositors and holders of certificates of deposit having special interest contracts with the Merchants’ Trust Company entitled to payment, in addition to the amounts already paid to them, respectively, to wit, the full amount of the principal of their deposits, of any interest whatever upon their respective balances after May 23, 1905, the date of the appointment of the receivers of said Merchants' Trust Company? and, if so, are they entitled to interest at the contract rate or at the legal rate? (2) Are depositors and holders of certified checks, having no interest contracts with the Merchants’ Trust company, entitled, in addition to the sums already received by them, to wit, the full amount of the principal of their claims, to interest upon their respective credit balances and sums owing them after May 23, 1905?