CITIZENS BANKING CO. v. MONTICELLO STATE BANK

No. 12688.

143 F.2d 261 (1944)

CITIZENS BANKING CO. et al. v. MONTICELLO STATE BANK.

Circuit Court of Appeals, Eighth Circuit.

June 14, 1944.


Attorney(s) appearing for the Case

Harold K. Bell, of Cleveland, Ohio (Owen N. Elliott, V. Craven Shuttleworth, Tyrrell M. Ingersoll, Grimm, Elliott, Shuttleworth & Ingersoll, all of Cedar Rapids, Ia., and Spieth, Taggart, Spring & Annat, of Cleveland, Ohio, on the brief), for appellants.

Carl H. Lambach, of Davenport, Ia., and Robert Sidney Milner, of Cedar Rapids, Ia., for appellee.

Before STONE, THOMAS, and JOHNSEN, Circuit Judges.


STONE, Circuit Judge.

This is a class action by twelve banks against the Monticello State Bank in behalf of themselves and all other holders of collateral trust notes issued by the Commercial Investment Company and, under the terms of a trust indenture, certified by the Monticello State Bank as trustee. The basis of the action is various acts and omissions alleged to be breaches of trust by the trustee Bank. Defendant filed a consolidated motion made up of a motion...

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