Joseph W. Hart, Luella F. Hart and J. Carl Russell v. Federal Reserve Bank of Atlanta

This is an appeal from an order of the United States District Court for the Middle District of Tennessee granting defendant-appellee’s motion for summary judgment. The appellants, Joseph W. Hart and J. Carl Russell, wer.e the principal shareholders of Country Club Village Corporation. The appellant, Luella F. Hart, owned one share of stock in the corporation. During World War II, the corporation was engaged in developing a housing project in Mobile, Alabama. The project was being financed by the First National Bank of Birming ham and the Merchants National Bank of Mobile. The two principal…