Elliott v. First Inland Nat. Bank

McCOLLOCH, District Judge.

From an early date, interest (after full payment of principal) has been allowed on approved claims of depositors against national banks in liquidation. By analogy to judgments in Federal courts, 28 U.S.C.A. § 811, the statutory rate in the State where the liquidation is conducted has been applied. National Bank of the Commonwealth v. Mechanics’ National Bank, 94 U.S. 437, 24 L.Ed. 176. In the present case a series of “banking holidays” (October 17, 1932 to March 22, 1933), and the appointment of a conservator (March 22, 1933) under 12 U.S.C.A. § 203, preceded final…