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FARMERS & MECHANICS SAVINGS BANK OF MINNEAPOLIS v. DEPT. OF COMMERCE

No. 37,908.

258 Minn. 99 (1960)

102 N.W. (2d) 827

FARMERS & MECHANICS SAVINGS BANK OF MINNEAPOLIS v. DEPARTMENT OF COMMERCE, SECURITIES DIVISION.

Supreme Court of Minnesota.

May 6, 1960.

Attorney(s) appearing for the Case

Best, Flanagan, Lewis, Simonet & Bellows and George H. Gould, for relator.

Miles Lord, Attorney General, Harold J. Soderberg, Assistant Attorney General, and Jack L. Chestnut, Special Assistant Attorney General, for respondent.

Diessner, McEachron, Wurst, Bundlie & Carroll, for The Independent Bankers Association, amicus curiae.

MURPHY, JUSTICE.

This case is before us on a writ of certiorari to review a decision of the Department of Commerce, Securities Division, State of Minnesota. The relator bank applied to the Department of Commerce for authority to establish a branch office in the city of Minneapolis and the application was denied. We are asked to determine if the Department of Commerce was correct in holding that a mutual savings bank organized under L. 1879, c. 109, is without authority...

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