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TEACHERS ANN. & A. ASS'N v. RIGGS NAT. BANK OF WASH., D. C.

No. 15202.

278 F.2d 452 (1960)

TEACHERS ANNUITY AND AID ASSOCIATION of the District of Columbia, a corporation, Appellant, v. RIGGS NATIONAL BANK OF WASHINGTON, D. C., Trustee, Appellee.

United States Court of Appeals District of Columbia Circuit.

Decided May 5, 1960.

Attorney(s) appearing for the Case

Mr. Harvey H. Holland, Jr., Washington, D. C., with whom Messrs. James C. Wilkes and Allen Jones, Jr., Washington, D. C., were on the brief, for appellant.

Mr. Frederick M. Bradley, Washington, D. C., with whom Mr. Charles C. Abeles, Washington, D. C., was on the brief, for appellee.

Before WILBUR K. MILLER, BAZELON and DANAHER, Circuit Judges.

WILBUR K. MILLER, Circuit Judge.

The principal question presented by this appeal is whether an irrevocable trust was established when Teachers Annuity and Aid Association executed to Washington Loan and Trust Company a declaration of trust providing that the sum of $121,500 then deposited with that institution should be held in perpetuity by it as trustee, the income therefrom to be used in the payment of annuities to its members (the membership having been closed...

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