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AMER. BANK v. FED. RESERVE BANK

No. 717.

262 U.S. 643 (1923)

AMERICAN BANK & TRUST COMPANY ET AL. v. FEDERAL RESERVE BANK OF ATLANTA ET AL.

Supreme Court of United States.

Decided June 11, 1923.

Attorney(s) appearing for the Case

Mr. Alexander W. Smith, with whom Mr. Orville A. Park and Mr. Theodore H. Smith were on the brief, for appellants.

Mr. John W. Davis, with whom Mr. Hollins N. Randolph, Mr. Robert S. Parker and Mr. Montgomery B. Angell were on the brief, for appellees.

MR. JUSTICE BRANDEIS delivered the opinion of the Court.

After the decision in this case reported in 256 U.S. 350, an answer was filed which denied, in large part, the allegations of the bill. Then, by an amended answer, the Federal Reserve Bank disclaimed any intention of demanding payment in cash, when presenting checks at the banks, and averred its willingness to accept payment in drafts, either on the drawee's Atlanta correspondent...

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