BROOKLYN TRUST CO. v. COMMISSIONER OF INTERNAL REV.

No. 142.

80 F.2d 865 (1936)

BROOKLYN TRUST CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

January 6, 1936.


Attorney(s) appearing for the Case

Francis L. Durk, of Brooklyn, N. Y., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., Sewall Key and Helen R. Carloss, Sp. Assts. to the Atty. Gen., and Carlton Fox, of Washington, D. C., for respondent.

Before MANTON, AUGUSTUS N. HAND, and CHASE, Circuit Judges.


MANTON, Circuit Judge.

The Brooklyn Trust Company, a banking corporation under the laws of the state of New York, as trustee, conducts a large trust business involving the handling of all forms of trust estates. In April, 1929, it held trust funds in excess of $250,000,000, and these were invested separately. Trusts of less than $20,000 or $25,000 could not be handled profitably and were generally not accepted by the bank. To permit these funds to be commingled and...

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