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HUDSON CTY. NAT'L BK v. PROVIDENT INST. FOR SAVINGS

80 N.J. Super. 339 (1963)

193 A.2d 697

HUDSON COUNTY NATIONAL BANK, A NATIONAL BANKING ASSOCIATION, PLAINTIFF, v. THE PROVIDENT INSTITUTION FOR SAVINGS IN JERSEY CITY, A NEW JERSEY SAVINGS BANK, THE HOWARD SAVINGS INSTITUTION AND PLAINFIELD SAVINGS BANK, DEFENDANTS AND DEFENDANTS-INTERVENORS.

Superior Court of New Jersey, Chancery Division.

Decided September 9, 1963.

Attorney(s) appearing for the Case

Messrs. Milton, Keane & DeBona (Mr. John Milton, Jr. of counsel), attorneys for plaintiff.

Mr. Israel Spicer, attorney for amicus curiae New Jersey Bankers Association.

Messrs. Wilentz, Goldman & Spitzer (Mr. Frederick R. Becker of counsel), attorneys for defendant The Provident Institution for Savings in Jersey City.

Messrs. Pitney, Hardin & Kipp (Messrs. Roger C. Ward and William H. Osborne, Jr. of counsel), attorneys for defendants-intervenors The Howard Savings Institution and Plainfield Savings Bank.

Messrs. Darby & McDonough (Mr. Robert F. Darby of counsel), attorneys for amicus curiae Savings Bank Association.

PASHMAN, J.S.C.

Plaintiff The Hudson County National Bank, a national bank doing business in New Jersey, instituted this action against defendant The Provident Institution for Savings in Jersey City, a mutual savings bank, seeking to permanently enjoin and restrain Provident from offering or maintaining demand accounts subject to withdrawal by check by its depositors. In addition, plaintiff also sought an adjudication declaring the practice of maintaining demand accounts...

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