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OLD KENT BANK AND TRUST COMPANY v. McC. MARTIN

Civ. A. No. 1993-58.

172 F.Supp. 951 (1959)

OLD KENT BANK AND TRUST COMPANY, Plaintiff, v. William McC. MARTIN, Jr., individually and as Chairman of the Board of Governors of the Federal Reserve System, C. Canby Balderston, individually and as Vice-Chairman of said Board, M. S. Szymczak, James K. Vardaman, Jr., A. L. Mills, Jr., J. L. Robertson and Charles N. Shepardson, individually and as members of said Board, Defendants.

United States District Court District of Columbia.

April 22, 1959.

Attorney(s) appearing for the Case

Gerhard A. Gesell, and Henry T. Rathbun, Washington, D. C., for plaintiff.

Oliver Gasch, U. S. Atty., Edward P. Troxell, Principal Asst. U. S. Atty., E. Riley Casey, and Robert J. Asman, Asst. U. S. Attys., Howard H. Hackley, Gen. Counsel, Frederic Solomon, and Thomas J. O'Connell, Asst. Gen. Counsel, Board of Governors of the Federal Reserve System, Washington, D. C., for defendants.

James F. Bell, Washington, D. C., amicus curiae on behalf of the National Ass'n of Supervisors of State Banks.

SIRICA, District Judge.

This is an action for a declaratory judgment brought by the Old Kent Bank and Trust Company of Grand Rapids, Michigan, a state member bank of the Federal Reserve System, to obtain a ruling from this Court that the Federal Reserve Board exceeded its statutory powers when it declined to approve the plaintiff's operation of several additional branches or branch offices which plaintiff had acquired as a result of a merger with Peoples National...

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