INSURANSHARES & GENERAL M. CO. v. UNITED STATES

No. 43543.

38 F.Supp. 835 (1941)

INSURANSHARES & GENERAL MANAGEMENT CO. v. UNITED STATES.

Court of Claims.

May 5, 1941.


Attorney(s) appearing for the Case

William Flannery, of Elmira, N. Y. (Charles L. Brayton, of Elmira, N. Y., on the briefs; William H. Hayes and Roger S. Brassel, both of New York City, and William Flannery, of Elmira, N. Y., of counsel), for plaintiff.

Francis T. Donahoe and J. A. Rees, both of Washington, D. C., and Samuel O. Clark, Jr., Asst. Atty. Gen. (Robert N. Anderson and Fred K. Dyar, both of Washington, D. C., on the brief), for defendant.

Before WHALEY, Chief Justice, and LITTLETON, WHITAKER, JONES, and MADDEN, Judges.


MADDEN, Judge.

Plaintiff in 1927 and 1928, then known as the Insuranshares Management Company, entered into agreements with Insuranshares Corporation, herein called the distributor, and Farmers Loan and Trust Company, herein called the trustee. By these agreements five investment funds were set up in the hands of the trustee. The funds consisted of stocks of banks, trust companies and insurance companies designated by plaintiff, acquired by the distributor and deposited...

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