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HOLMBERG v. ARMBRECHT

No. 505.

327 U.S. 392 (1946)

HOLMBERG ET AL. v. ARMBRECHT ET AL.

Supreme Court of United States.

Decided February 25, 1946.

Attorney(s) appearing for the Case

Clarence Fried argued the cause for petitioners. With him on the brief was Edmund Burke, Jr.

Edgar M. Sousa argued the cause and filed a brief for respondents.

Briefs were filed as amici curiae by Solicitor General McGrath, Robert L. Stern, Roger S. Foster, Milton V. Freeman and Arnold R. Ginsburg for the United States, and by Saul J. Lantz and Isadore H. Cohen for the Trustees of Central States Electric Corporation, urging reversal.

MR. JUSTICE FRANKFURTER delivered the opinion of the Court.

This is a suit in equity by petitioners on behalf of themselves and all other creditors of the Southern Minnesota Joint Stock Land Bank of Minneapolis to enforce the liability imposed upon shareholders of the Bank by § 16 of the Federal Farm Loan Act, equal to one hundred percent of their holdings. 39 Stat. 360, 374, 12 U.S.C. § 812.1...

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