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WOODRING v. WARDELL

No. 5.

309 U.S. 527 (1940)

WOODRING, SECRETARY OF WAR, ET AL. v. WARDELL, RECEIVER.

Supreme Court of United States.

Decided March 25, 1940.

Attorney(s) appearing for the Case

Assistant Attorney General Shea, with whom Solicitor General Jackson and Mr. Paul A. Sweeney were on the brief, for petitioners.

Messrs. Brice Clagett and George P. Barse, with whom Messrs. Charles E. Wainwright and George B. Springston were on the brief, for respondent.

MR. JUSTICE FRANKFURTER delivered the opinion of the Court.

This is a companion case to Inland Waterways Corp. v. Young, ante, p. 517. The District National Bank pledged some of its assets to secure deposits made by the Secretary of War on behalf of the Panama Canal Zone. The Bank became insolvent in 1933, and the pledged assets were sold. Respondent, the Bank's receiver, brought this action to recover that...

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