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CONTINENTAL BANK AND TRUST COMPANY v. MARTIN

No. 16620.

303 F.2d 214 (1962)

CONTINENTAL BANK AND TRUST COMPANY, Appellant, v. William McChesney MARTIN, Jr., et al., Appellees.

United States Court of Appeals District of Columbia Circuit.

Decided May 3, 1962.

Attorney(s) appearing for the Case

Mr. Peter W. Billings, Salt Lake City, Utah, of the bar of the Supreme Court of Utah, pro hac vice, by special leave of court, with whom Messrs. Barron K. Grier and John S. Nolan, Washington, D. C., were on the brief, for appellant.

Mr. John G. Laughlin, Jr., Atty., Dept. of Justice, with whom Asst. Atty. Gen. William H. Orrick, Jr., Messrs. David C. Acheson, U. S. Atty., and Jerry C. Straus, Atty., Dept. of Justice, were on the brief, for appellees.

Before BAZELON, FAHY and BURGER, Circuit Judges.

FAHY, Circuit Judge.

An order of the Board of Governors of the Federal Reserve System, dated July 18, 1960, provides that the Continental Bank and Trust Company,1 within six months "shall, by the sale of common stock for cash, effect an increase in its net capital and surplus funds in the amount of not less than $1,500,000." The Bank filed suit in the District Court for a declaratory judgment that the order was void, and for related relief...

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