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“This was an action to recover the quarter-interest payable the 1st of October 1816, on $125,000, six per cent, funded stock of the United States, with interest from the 2d of October 1816, when it was received by the defendant, The declaration contained two counts, one upon a special agreement, which was fully proved by Mr Jones, and the other for money had and received to plaintiff’s use. Mr Jones, who was one of the five commissioners for receiving subscriptions to the bank of the United States in Philadelphia, was examined as a witness, who stated, that he, after the 20th of July 1816, (when, as it afterwards appeared by a return of the commissioners from other parts of the United States, that the twenty-eight millions to be subscribed by individuals had not been taken, by about thirty thousand shares) was authorised by sundry persons to subscribe for them to the amount of about ten thousand shares, including the plaintiff; for whom, and his associates, he was to subscribe for five thousand shares, being furnished by the plaintiff with the specie and certificates, accompanied by a power of attorney, to pay the first instalment.”

Case Citation

4 Wash. C. C. 289-96. Quote on pages 289-90.