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BANKERS FARM MORTG. CO. v. UNITED STATES

No. 46430.

69 F.Supp. 197 (1947)

BANKERS FARM MORTG. CO. v. UNITED STATES.

Court of Claims.

January 6, 1947.

Attorney(s) appearing for the Case

A. D. Sutherland, of Fond du Lac, Wis. (Lawrence J. Bernard, of Washington, D. C., on the brief), for plaintiff.

Donald B. MacGuineas, of Washington, D. C., and John F. Sonnett, Asst. Atty. Gen., for defendant.

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

LITTLETON, Judge.

Plaintiff, a Wisconsin corporation organized in 1931, acquired in October and November of that year certain of the outstanding bonds of the par value of approximately $15,554,100 of the Bankers Joint Stock Land Bank of Milwaukee, Wisconsin. The bank defaulted in July 1927 in the payment of interest then due on its outstanding bonds, and, under authority of the Federal Farm Loan Act of July 17, 1916, (39 Stat. 360), was declared insolvent by the Federal...

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