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STATE v. NAT. NEWARK AND ESSEX BANKING CO.

31 N.J. Super. 246 (1954)

106 A.2d 358

STATE OF NEW JERSEY, BY THEODORE D. PARSONS, ATTORNEY GENERAL OF THE STATE OF NEW JERSEY, PLAINTIFF, v. THE NATIONAL NEWARK AND ESSEX BANKING COMPANY OF NEWARK, DEFENDANT.

Superior Court of New Jersey, Chancery Division.

Decided June 16, 1954.

Attorney(s) appearing for the Case

Mr. Grover C. Richman, Attorney-General (Messrs. Herrigel, Bolan & Vieser, attorneys specially appointed by the Attorney-General for prosecution of the above case, Mr. William L. Vieser, appearing), attorney for plaintiff.

Messrs. Pitney, Hardin & Ward (Mr. Robert P. Hazlehurst, Jr., appearing), attorney for defendant.

GOLDMANN, J.S.C.

The single question presented in this action is whether the Custodial Escheat Act (L. 1951, c. 304; N.J.S. 2A:37-29 et seq.) is applicable to national banking institutions. Defendant maintains that it is not.

The answer filed by the defendant bank to the custodial escheat action instituted by the State sets forth nine separate defenses. Except for the first, these are substantially the same defenses raised...

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