Hazen v. Hardee

GRONER, Associate Justice.

Federal-American National Bank & Trust Company of Washington was organized under the national banking laws, and prior to March 6, 1933, was engaged in banking in the District of Columbia. On the latter date the bank was closed by presidential proclamation, and on March 14, 1933, a conservator was appointed by the Comptroller. Later, on November 1, 1933, the Comptroller appointed appellee receiver.

There is in effect in the District of Columbia a statute as follows:

“Each national bank as the trustee for its stockholders, through its president or cashier, and all other…