RAICHLE v. FEDERAL RESERVE BANK OF NEW YORK

No. 354.

34 F.2d 910 (1929)

RAICHLE v. FEDERAL RESERVE BANK OF NEW YORK.

Circuit Court of Appeals, Second Circuit.

July 15, 1929.


Attorney(s) appearing for the Case

Frank G. Raichle, of Buffalo, N. Y. (Robert L. Owen, of Washington, D. C., and Carlos C. Alden and Ethan W. Judd, both of Buffalo, N. Y., of counsel), for appellant.

Newton D. Baker, of Cleveland, Ohio, and Walter S. Logan, of New York City, for appellee.

Before L. HAND, SWAN, and AUGUSTUS N. HAND, Circuit Judges.


AUGUSTUS N. HAND, Circuit Judge (after stating the facts as above).

The wrongs charged against the bank are (a) spreading propaganda concerning an alleged money shortage and increasing volume of collateral loans; (b) setting about to restrict the supply of credit available for investment purposes by engaging in open market transactions through the sale of its securities; (c) raising the rediscount rate for its member banks in order to reduce the volume of security...

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