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SARNER v. MASON

No. 11638.

228 F.2d 176 (1955)

Sidney SARNER, Leonard Sarner, Maurice Sarner and Linwood Park, Inc., Sections 1 to 13 Inclusive, Each a Corporation of New Jersey, Appellants, v. Norman P. MASON, Commissioner of the Federal Housing Administration, and Albert M. Cole, Housing and Home Financing Administration, and Federal Housing Administration.

United States Court of Appeals Third Circuit.

Decided December 21, 1955.

As Amended December 23, 1955.

Rehearing Denied January 10, 1956.

Attorney(s) appearing for the Case

Walter D. Van Riper, Newark, N. J. (Van Riper & Belmont, Newark, N. J., on the brief), for appellant.

Carl L. Eardley, Washington, D. C., (Warren E. Burger, Asst. Atty. Gen., Raymond Del Tufo, Jr., U. S. Atty., Charles H. Hoens, Jr., Asst. U. S. Atty., Newark, N. J., Carl L. Eardley, Washington, D. C., Charles J. Steele, Attys., Dept. of Justice, on the brief), for appellee.

Before BIGGS, Chief Judge, and KALODNER and HASTIE, Circuit Judges.

BIGGS, Chief Judge.

The individual plaintiffs own all the common stock of the thirteen corporate plaintiffs. The corporate plaintiffs, corporations of New Jersey, constructed and operate housing projects financed through Federal Housing Administration insured loans. Pursuant to the statute and the regulations1 the Commissioner of the FHA is the holder of all of the preferred stock of each of the corporations.

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