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UNITED STATES v. ELY & WALKER DRY GOODS CO.

No. 14677.

201 F.2d 584 (1953)

UNITED STATES v. ELY & WALKER DRY GOODS CO.

United States Court of Appeals Eighth Circuit.

February 5, 1953.

Attorney(s) appearing for the Case

Harry Marselli, Sp. Asst. to Atty. Gen. (Charles S. Lyon, Asst. Atty. Gen., Ellis N. Slack, A. F. Prescott, and Fred E. Youngman, Sp. Assts. to Atty. Gen., George L. Robertson, U. S. Atty., and William J. Costello, Asst. U. S. Atty., St. Louis, Mo., on the brief), for appellant.

George W. Simpkins, St. Louis, Mo. (William H. Charles, William C. Connett, IV, and Bryan, Cave, McPheeters & McRoberts, St. Louis, Mo., on the brief), for appellee.

Before SANBORN, WOODROUGH and RIDDICK, Circuit Judges.

RIDDICK, Circuit Judge.

On December 31, 1947, at a regular meeting of the Board of Directors of Ely & Walker Dry Goods Company, a Missouri corporation, the directors resolved that the company make a loan from the Chase National Bank of New York and the First National Bank in St. Louis in the sum of $7,500,000, to be evidenced by the company's note for $6,500,000 to the Chase National Bank, payable in eight annual installments, each installment bearing interest...

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