no intention to create a joint ownership and no donative purpose, the mere form of the deposit is not enough to establish such intention.65

Where the depositor delivers the pass book to the other with the purpose of making a gift, it is generally conceded that a joint tenancy is created. Some courts refuse to hold such deposits valid as gifts, when the depositor retains the pass book; 7 but by the better rule, if the intent to create a joint tenancy appears, whether the book be delivered or not is of no consequence. This has been explained on the ground that the transaction creates a contractual relation between the bank and the donee, and while by retention of the pass book the donor still has the power to withdraw the

68

65 Bath Savings Institution v. Fogg, 101 Me. 188, 63 Atl. 731; Taylor v. Coriell, 66 N. J. Eq. 262, 57 Atl. 810; In re Bolin, 136 N. Y. 177, 32 N. E. 626; Kelly v. Beers, 194 N. Y. 49, 86 N. E. 980. Cf. Augsbury v. Shurtliff, 180 N. Y. 138, 72 N. E. 927; Hallenbeck v. Hallenbeck, 103 App. Div. 107, 93 N. Y. Supp. 73. See "Gifts," Dec. Dig. (Key No.) §§ 30, 66; Cent. Dig. §§ 52-57, 65, 135–138.

66 Industrial Trust Co. v. Scanlon, 26 R. I. 228, 58 Atl. 786. See "Gifts," Dec. Dig. (Key No.) §§ 30, 66; Cent. Dig. §§ 52-57, 65, 135– 138.

67 Dougherty v. Moore, 71 Md. 248, 18 Atl. 35, 17 Am. St. Rep. 524; Gorman v. Gorman, 87 Md. 338, 39 Atl. 1038; Whalen v. Milholland, 89 Md. 199, 43 Atl. 45, 44 L. R. A. 208; Flanagan v. Nash, 185 Pa. 41, 39 Atl. 818.

Where plaintiff's testatrix deposited moneys, and the deposit book was headed with the names of testatrix and an intervening claimant, "payable to either or survivor," but it did not appear that the claimant ever had possession of the book, or knew of the deposit until after the death of testatrix, she was not entitled to recover the same. Noyes v. Institution for Savings in Newburyport, 164 Mass. 583, 42 N. E. 103, 49 Am. St. Rep. 484. See "Gifts," Dec. Dig. (Key No.) §§ 30, 66; Cent. Dig. §§ 52-57, 65, 135-138.

68 McElroy v. National Sav. Bank, 8 App. Div. 192, 40 N. Y. Supp. 340; Farrelly v. Emigrant Industrial Sav. Bank, 93 App. Div. 613, 87 N. Y. Supp. 541, affirmed 179 N. Y. 594, 72 N. E. 1141. See, also, Appeal of Main, 73 Conn. 638, 48 Atl. 965. See "Gifts," Dec. Dig. (Key No.) §§ 30, 66; Cent. Dig. §§ 52-57, 65, 135–138.

deposit, thereby making the gift of no value, the legal effect of the transaction as a gift becomes complete upon the consummation of the contract which the bank enters into with both jointly, and which, having the incident of survivorship, vests the right of action thereon in the survivor.69

Where there is no intention to make a gift inter vivos, but only an intention that the donee shall have what is left after the donor has exercised his absolute control during his life, the gift is void as not in compliance with the statute of wills.70

69 Dunn v. Houghton (N. J.) 51 Atl. 71 (but see Taylor v. Coriell, 66 N. J. Eq. 262, 57 Atl. 810). See, also, Schippers v. Kempker (N. J.) 67 Atl. 1042; Industrial Trust Co. v. Scanlon, 26 R. I. 228; 58 Atl. 786. See "Gifts," Dec. Dig. (Key No.) §§ 30, 66; Cent. Dig. §§ 52-57, 65, 135-138.

70 Appeal of Main, 73 Conn. 638, 48 Atl. 965; Taylor v. Coriell, 66 N. J. Eq. 262, 57 Atl. 810; Providence Inst. for Savings v. Carpenter, 18 R. I. 287, 27 Atl. 337. See, also, Burns v. Burns, 132 Mich. 441, 92 N. W. 1077. See “Gifts,” Dec. Dig. (Key No.) §§ 30, 66; Cent. Dig. §§ 52-57, 65, 135-138.

APPENDIX

NATIONAL BANK ACT AND OTHER STATUTES OF THE UNITED STATES RELATING TO NATIONAL BANKS

INCORPORATING UNDER THE HEADINGS OF THE REVISED STATUTES THE SUBSEQUENT LAWS, TOGETHER WITH EXPLANATORY AND HISTORICAL NOTES

[The sections of the Revised Statutes are printed consecutively according to their numbering, and the section numbers, unless otherwise indicated, are those of the Revised Statutes. The explanatory and historical notes are taken, with necessary changes, from the Compiled Statutes of the United States 1901 and Compiled Statutes of the United States Supplement 1911, compiled by Mr. John A. Mallory, assisted by members of the editorial staff of the publishers, the West Publishing Co.]

Sec. 324. Bureau of the Comptroller of the Currency.There shall be in the Department of the Treasury a Bureau charged with the execution of all laws passed by Congress relating to the issue and regulation of a national currency (463)

TIFF.BKS.& B.

secured by United States bonds; the chief officer of which Bureau shall be called the Comptroller of the Currency, and shall perform his duties under the general direction of the Secretary of the Treasury.

Act June 3, 1864, c. 106, § 1, 13 Stat. 99.

Sec. 325. Comptroller of the Currency.-The Comptroller of the Currency shall be appointed by the President, on the recommendation of the Secretary of the Treasury, by and with the advice and consent of the Senate, and shall hold his office for the term of five years unless sooner removed by the President, upon reasons to be communicated by him to the Senate; and he shall be entitled to a salary of five thousand dollars a year.

Act June 3, 1864, c. 106, § 1, 13 Stat. 99. Act March 3, 1875, c. 130, 2, 18 Stat. 398.

Sec. 326. Bond and oath of office of Comptroller of the Currency. The Comptroller of the Currency shall, within fifteen days from the time of notice of his appointment, take and subscribe the oath of office; and he shall give to the United States a bond in the penalty of one hundred thousand dollars, with not less than two responsible sureties, to be approved by the Secretary of the Treasury, conditioned for the faithful discharge of the duties of his office. Act June 3, 1864, c. 106, § 1, 13 Stat. 99.

Sec. 327. Deputy Comptroller of the Currency. There shall be in the Bureau of the Comptroller of the Currency a Deputy Comptroller of the Currency, to be appointed by the Secretary, who shall be entitled to a salary of two thousand five hundred dollars a year, and who shall possess the power and perform the duties attached by law to the office of Comptroller during a vacancy in the office or during the absence or inability of the Comptroller. The Deputy Comptroller shall also take the oath of office prescribed by the Constitution and laws of the United States, and shall give a like bond in the penalty of fifty thousand dollars. Act June 3, 1864, c. 106, § 1, 13 Stat. 99.

A Deputy Comptroller, $3,000, was authorized by Act March 3, 1875, c. 130, § 2 (Comp. St. 1901, p. 124). Subsequent appropriations have varied from this amount.

An appropriation for Deputy Comptroller, $3,500, and also for Deputy Comptroller, $3,000, to be appointed by the Secretary of the Treasury, was made by a provision of Act March 4, 1909, c. 297, § 1, set forth below.