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HOLMBERG v. SOUTHERN MINNESOTA JOINT STOCK LAND BANK

No. 2420.

10 F.Supp. 795 (1935)

HOLMBERG et al. v. SOUTHERN MINNESOTA JOINT STOCK LAND BANK OF MINNEAPOLIS et al.

District Court, D. Minnesota, Fourth Division.

April 3, 1935.

Attorney(s) appearing for the Case

John C. Benson and Loring M. Staples, both of Minneapolis, Minn., for complainants.

L. R. Barker, of Minneapolis, Minn., for defendants Southern Minnesota Joint Stock Land Bank of Minneapolis, Roy A. Nelson, and Ervin J. Friede.

Allen & Whitfield, of Des Moines, Iowa, and Prendergast, Flannery & Young, of Minneapolis, Minn., for defendants Fred W. Orth, A. L. Olson, Harry J. Heider, and the First State Bank of Gary, Minn.

Jesse Van Valkenburg, of Minneapolis, Minn., for defendant Dr. E. L. Baker.

NORDBYE, District Judge.

This is a creditors' bill brought on behalf of the plaintiffs and all other creditors who may intervene herein. This form of action to enforce stockholders' liability of a joint stock land bank is suggested and approved by the Supreme Court in Wheeler v. Greene, 280 U.S. 49, 50 S.Ct. 21, 74 L. Ed. 160. On May 2, 1932, the Federal Farm Loan Board, acting under and pursuant to the authority contained in the Federal...

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