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FEDERAL DEPOSIT INS. CORP. v. BILLINGS COUNTY

No. 13629.

168 F.2d 452 (1948)

FEDERAL DEPOSIT INS. CORPORATION v. BILLINGS COUNTY, N. D.

Circuit Court of Appeals, Eighth Circuit.

June 9, 1948.

Attorney(s) appearing for the Case

John L. Cecil, of Washington, D. C. (Herbert G. Nilles, of Fargo, N. D., Norris C. Bakke, of Denver, Colo., and Robert A. Dixon, of Chicago, Ill., on the brief), for appellant.

H. A. Mackoff, of Dickinson, N. D., and Conmy & Conmy, of Fargo, N. D., for appellee.

Before SANBORN, THOMAS, and RIDDICK, Circuit Judges.

SANBORN, Circuit Judge.

The Stockmen's State Bank of Medora, North Dakota, a state bank insured by the Federal Deposit Insurance Corporation (hereinafter referred to as the "Corporation") under the provisions of § 12B of the Federal Reserve Act,1 became insolvent and closed its doors on September 24, 1938. Shortly thereafter the Corporation became the receiver of the Bank. The County of Billings had been a depositor of the bank. At...

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