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BEACON FED. S. & L. ASS'N v. FEDERAL HOME LOAN BANK BD.

No. 12475.

266 F.2d 246 (1959)

BEACON FEDERAL SAVINGS & LOAN ASSOCIATION, Plaintiff-Appellant, v. FEDERAL HOME LOAN BANK BOARD, Defendant-Appellee.

United States Court of Appeals Seventh Circuit.

Rehearing Denied June 2, 1959.

Attorney(s) appearing for the Case

Ray T. McCann, Milwaukee, Wis., Horace Russell, Chicago, Ill., Richard A. McDermott, Milwaukee, Wis., Cummings, Sellers, Reeves & Conner, Washington, D. C., of counsel, for appellant.

Mose Silverman, Ray E. Dougherty, Federal Home Loan Bank Board, Washington, D. C., Thomas H. Creighton, Jr., General Counsel, Albion W. Fenderson, George W. Murphy, Jr., Attorneys, Federal Home Loan Bank Board, Washington, D. C., of counsel, for appellee.

Before SCHNACKENBERG, HASTINGS and PARKINSON, Circuit Judges.

SCHNACKENBERG, Circuit Judge.

This action was brought by Beacon Federal Savings and Loan Association, herein called Beacon, to review orders of Federal Home Loan Bank Board, herein called the Board, appointing a supervisory agent for Beacon and to test the constitutionality of those orders. Beacon based its action on certain provisions of the Home Owners' Loan Act of 1933 as amended (12 U.S.C.A. § 1464(d)(2)) and § 10 of the Administrative Procedure Act...

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