CITY BANK FARMERS TRUST CO. v. HOEY

No. 174.

125 F.2d 577 (1942)

CITY BANK FARMERS TRUST CO. v. HOEY, Collector of Internal Revenue.

Circuit Court of Appeals, Second Circuit.

February 7, 1942.


Attorney(s) appearing for the Case

Rollin Browne and George Craven, both of New York City (Mitchell, Taylor, Capron & Marsh, of New York City, of counsel), for plaintiff-appellee.

Mathias F. Correa, of New York City (Myles J. Lane, Asst. U. S. Atty., of New York City, of counsel), for defendant-appellant.

Mudge, Stern, Williams & Tucker, of New York City (Joseph B. Lynch, of New York City, of counsel), on brief amicus curiae for President and Directors of the Manhattan Co.

Before SWAN, AUGUSTUS N. HAND, and FRANK, Circuit Judges.


FRANK, Circuit Judge.

The facts are stipulated. Bank of America Trust Company merged into City Bank Farmers Trust Company under Article 12 of the Banking Law of New York, Consol. Laws, c. 2. City Bank Farmers Trust thereupon succeeded Bank of America Trust in its fiduciary capacity as executor, administrator, trustee and custodian or safe-keeping agent for various trusts, estates and customers, under Section 494(2) of Article 12. Stock certificates held in these accounts...

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