PEOPLE, ETC. v. COAST FEDERAL SAV. & LOAN ASS'N

Civ. A. 10528-C.

98 F.Supp. 311 (1951)

PEOPLE OF STATE OF CALIFORNIA et al. v. COAST FEDERAL SAV. & LOAN ASS'N.

United States District Court S. D. California, C. D.

June 21, 1951.


Attorney(s) appearing for the Case

Edmund G. Brown, Atty. Gen., Walter L. Bowers, Asst. Atty. Gen., Bayard Rhone, Deputy Atty. Gen., for plaintiffs.

Crail & Crail, Los Angeles, Cal. (Harry G. McMahon, Los Angeles, Cal., of counsel), and Frank P. Doherty, Los Angeles, Cal., for defendant.

Newell A. Clapp, Acting Asst. Atty. Gen., Ernest A. Tolin, U. S. Atty., Clyde C. Downing, Asst. U. S. Atty., and Reuben Rosensweig, Asst. U. S. Atty., all of Los Angeles, Cal. (Edward H. Hickey and

Hubert H. Margolies, Attys., Department of Justice, Washington, D. C., and Kenneth G. Heisler, General Counsel, and William F. McKenna, Asst. General Counsel, Home Loan Bank Board, Washington, D. C., of counsel), for United States, as amicus curiae.

Sheppard, Mullin, Richter & Balthis, Los Angeles, Cal. (Frank S. Balthis Jr. and James C. Sheppard, Los Angeles, Cal., of counsel), for the California Sav. & Loan League, as amicus curiae.


JAMES M. CARTER, District Judge.

This is an action for injunction and recovery of statutory penalties, in which the plaintiffs contend that defendant, a Federal savings and loan association, solicited and received deposits, representing itself to be a banking institution, and transacted its business in the manner of a savings bank, in violation of California state statutes and without authority.1

The action was commenced in the...

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