SPRAGUE v. STRAUB


451 P.2d 49 (1969)

Charles A. SPRAGUE, Statesman Publishing Company, an Oregon Corporation, and Fred H. Paulus, Respondents, v. Robert W. STRAUB, State Treasurer of the State of Oregon, and Robert W. Straub, Max Manchester, W.P. Stalnaker, Howell Appling, Jr., and Don Ellis, Constituting the Oregon Investment Council, Appellants.

Supreme Court of Oregon In Banc.

Decided February 26, 1969.


Attorney(s) appearing for the Case

Peter S. Herman, Asst. Atty. Gen., Salem, argued the cause for appellants. With him on the briefs was Robert Y. Thornton, Atty. Gen., Salem.

Randall B. Kester, Portland, argued the cause for respondents. With him on the brief were William D. Rutherford, Portland, and Maguire, Kester & Cosgrave, Portland, and Fred H. Paulus, Salem.

Thomas C. Enright, Salem, filed a brief as amicus curiae for Oregon State Employees Ass'n, Oregon Education Ass'n, and Oregon School Employees Ass'n.

Before PERRY, C.J., and McALLISTER, SLOAN, O'CONNELL, DENECKE, HOLMAN and LANGTRY, JJ.


O'CONNELL, Justice.

This is a declaratory judgment suit brought to test the validity of Chapter 335, Oregon Laws 1967 (now ORS 293.701-293.990 which we shall hereafter refer to as the Act) relating to the investment of public funds and other funds in the custody of officers of the state. Each of the plaintiffs allege that they have an interest in the funds. Defendants are the five members of the Oregon Investment Council which was created by the Act. They appeal from...

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