PEOPLES BANK v. FEDERAL RESERVE BANK OF SAN FRANCISCO

No. 23243-R.

58 F.Supp. 25 (1944)

PEOPLES BANK v. FEDERAL RESERVE BANK OF SAN FRANCISCO et al.

District Court, N. D. California, S. D.

November 17, 1944.


Attorney(s) appearing for the Case

Willkie, Owen, Otis, Farr & Gallagher, of New York City, and Sanner, Fleming & Irwin, of Los Angeles, Cal., for plaintiff Peoples Bank.

Albert C. Agnew and John A. O'Kane, both of San Francisco, Cal., for defendant Federal Reserve Bank of San Francisco.

Frank J. Hennessy, U. S. Atty., and W. E. Licking, Asst. U. S. Atty., both of San Francisco, Cal., J. P. Dreibelbis and George B. Vest, both of Washington, D. C., and Robertson, Leachman, Payne, Gardere & Lancaster, of Dallas, Tex., for defendants Board of Governors of the Federal Reserve System and Henry F. Grady, Federal Reserve Agent.


ROCHE, District Judge.

This is a suit by the Peoples Bank, a State banking corporation organized under the laws of the State of California, to annul and enjoin the enforcement of a condition of membership required by the Board of Governors of the Federal Reserve System as a prerequisite to granting plaintiff the right to become a member bank of the Federal Reserve System.

Following the jurisdictional allegations, and those identifying the parties, the complaint...

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