No. 542.

309 U.S. 590 (1940)


Supreme Court of United States.

Decided April 22, 1940.

Attorney(s) appearing for the Case

Messrs. Leonard G. McAneny and E.J. Dimock, with whom Mr. J. Donald Rawlings was on the brief, for petitioners.

Mr. George P. Barse, with whom Messrs. Benjamin W. Moore, Milton L. Romm, John F. Anderson, and Lee Roy Stover were on the brief, for respondent.

MR. JUSTICE McREYNOLDS delivered the opinion of the Court.

By these companion suits, begun during 1936, the Receiver of The First National Bank and Trust Company of Yonkers ("The Bank"), seeks to recover fifty per centum of deposits withdrawn by petitioners from the association while insolvent. Thus, it is said, they obtained unlawful preferences within the meaning of the National Banking Act.1

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