BANK OF NEW ORLEANS AND TRUST COMPANY v. SAXON

Civ. A. No. 1857-62.

211 F.Supp. 576 (1962)

BANK OF NEW ORLEANS AND TRUST COMPANY et al., Plaintiffs, v. James J. SAXON, Comptroller of the Currency, Defendant, Whitney National Bank in Jefferson Parish, Intervening Defendant.

United States District Court District of Columbia.

November 5, 1962.


Attorney(s) appearing for the Case

Edward L. Merrigan, Washington, D. C., of counsel, Ralph Fishman, A. J. Waechter, Jr., New Orleans, La., James W. Bean, Lafayette, La., G. Harrison Scott, New Orleans, La., for plaintiff Bank of New Orleans and Trust Co.

Bentley G. Byrnes, Asst. Atty. Gen., of Louisiana, New Orleans, for intervening plaintiff State Bank Commissioner of Louisiana.

Robert Bloom, Chief Counsel to the Comptroller of the Currency and Joseph D. Guilfoyle, Donald B. MacGuineas, David V. Seaman, Attys., Dept. of Justice, David C. Acheson, U. S. Atty., Washington, D. C., of counsel, for defendant James J. Saxon, Comptroller of the currency.

Dean Acheson, Hamilton Carothers, W. Graham Claytor, Jr., Brice M. Clagett, Washington, D. C., and Malcolm L. Monroe, New Orleans, La., of counsel, Covington & Burling, Washington, D. C., and Monroe & Lemann, La., Walter J. Suthon, III, and Jerry A. Brown, New Orleans, La., for intervening defendant Whitney Nat. Bank in Jefferson Parish.

James F. Bell, Washington, D. C., for Nat. Ass'n of Sup'rs. of State Banks, amicus curiae.


McLAUGHLIN, District Judge.

On October 3, 1961, the Comptroller of the Currency gave preliminary approval to the formation of two new national banks, the Crescent City National Bank and the Whitney National Bank in Jefferson Parish, Louisiana, subject to approval by the Federal Reserve Board of the formation of a holding company for the purpose of acquiring the stock of such banks, pursuant to the Bank Holding Company Act of 1956. On May 3, 1962, the Federal Reserve...

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