American Bank & Trust Co. v. Federal Reserve Bank of Atlanta
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE FIFTH CIRCUIT. Appeal from a decree of the Circuit Court of Appeals affirming a decree of the District Court,/dismissing, for want of equity, a bill brought by divers state banks against a Federal Reserve Bank and its officers for an injunction. The facts are stated in the opinion.
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APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE FIFTH CIRCUIT. Appeal from a decree of the Circuit Court of Appeals affirming a decree of the District Court,/dismissing, for want of equity, a bill brought by divers state banks against a Federal Reserve Bank and its officers for an injunction. The facts are stated in the opinion. The Federal Reserve Banks have the right under the Federal Reserve Act to undertake, if so directed or authorized by the Federal Reserve Board, to accept checks and drafts payable upon presentation, upon whatever bank drawn. That basic’right is. substantiated by the…
1Opinion of the CourtJustice Holmes
This is a bill in equity brought by country banks incorporated by the State of Georgia against the Federal'Reserve Bank of Atlanta, incorporated under the laws of the United States, and its officers. It was brought in a State Court but removed to. the District Court of the United States on the petition of the defendants. A motion to remand was made by the plaintiffs but was overruled. The allegations of the bill may be summed up in comparatively few words. The plaintiffs are not members of the Federal Reserve System and many of them have too small a capital to permit their joining it— a…
2Cases cited5 opinions
- Osborn v. Bank of United StatesSupreme Court of the United States · 1824
- Smith v. Kansas City Title & Trust Co.Supreme Court of the United States · 1921
- Texas & Pacific Railway Co. v. CodySupreme Court of the United States · 1897
- Bankers Trust Co. v. Texas & Pacific Railway Co.Supreme Court of the United States · 1916
- Matter of DunnSupreme Court of the United States · 1909
3Cited by159 opinions
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- Burns Jackson Miller Summit & Spitzer v. LindnerNew York Court of Appeals · 1983
- Geary v. United States Steel Corp.Supreme Court of Pennsylvania · 1974
- Lorain Journal Co. v. United StatesSupreme Court of the United States · 1951
- Mississippi Valley Barge Line Co. v. United StatesSupreme Court of the United States · 1934
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