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TOWNSHIP OF SOUTH HACKENSACK v. FEDERAL D. INS. CORP.

No. 7005.

109 F.2d 327 (1940)

TOWNSHIP OF SOUTH HACKENSACK, Bergen County, v. FEDERAL DEPOSIT INS. CORPORATION.

Circuit Court of Appeals, Third Circuit.

January 15, 1940.

Attorney(s) appearing for the Case

Chandless & Weller, of Hackensack, N. J. (Ralph W. Chandless, of Hackensack, N. J., of counsel), for appellant.

McDermott, Enright & Carpenter, of Jersey City, N. J. (James D. Carpenter, Jr., and Howard C. Gilmour, both of Jersey City, N. J., of counsel), for appellee.

Caldwell & Raymond, of New York City (John T. Trimble, of New York City, of counsel), amicus curiae.

Before BIDDLE, JONES, and BUFFINGTON, Circuit Judges.

BIDDLE, Circuit Judge.

Federal Deposit Insurance Corporation purchased $130,000 Temporary Sewer Bonds and $135,978.01 notes of the Township of South Hackensack, in the County of Bergen, New Jersey (formerly Township of Lodi) from the Little Ferry National Bank, and recovered a judgment of $313,730.26, which included $90,000 principal amount of the bonds which had become due, the principal amount of the notes, and interest on both. The case was tried without a jury...

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