Smith v. Kansas City Title & Trust Co.
Supreme Court of the United States
APPEAL PROM THE DISTRICT COURT OP THE UNITED STATES POR THE WESTERN DISTRICT OP MISSOURI. This was a direct appeal to review a decree of the District Court dismissing a bill brought by a shareholder to enjoin a trust company from investing its money in bonds of Federal and -Joint Stock, Land Banks.
Read the full summary
APPEAL PROM THE DISTRICT COURT OP THE UNITED STATES POR THE WESTERN DISTRICT OP MISSOURI. This was a direct appeal to review a decree of the District Court dismissing a bill brought by a shareholder to enjoin a trust company from investing its money in bonds of Federal and -Joint Stock, Land Banks. The case is stated in the opinion, infra, p. 195. The implied power of appropriation does net authorize the creation of Federal Land Banks to lend private capital on farm mortgages, nor the exemption of their obligations in private hands from state taxation. The power to borrow money on the credit…
1Opinion of the CourtJustice Day
A bill was filed in the. United States District Court for the Western Division of the Western District of Missouri by a shareholder in the Kansas City Title & Trust Company to enjoin the Company, its officers, agents and employees from investing the funds of the Company in farm loan bonds issued by Federal Land Banks or Joint Stock Land Banks under authority of the Federal Farm Loan Act of July 17, 1916, c. 245, 39 Stat. 360, as amended January 18,1918, c. 9, 40 Stat. 431.
The relief was sought on the ground that these acts were beyond the constitutional power of Congress. The bill avers that…
2Cases cited19 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Cohens v. VirginiaSupreme Court of the United States · 1821
- Osborn v. Bank of United StatesSupreme Court of the United States · 1824
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Brushaber v. Union Pacific RailroadSupreme Court of the United States · 1916
14 more not listed; retrieve them via the Exa API.
3Cited by603 opinions
- Franchise Tax Bd. of Cal. v. Construction Laborers Vacation Trust for Southern Cal.Supreme Court of the United States · 1983
- Bell v. HoodSupreme Court of the United States · 1946
- Shaw v. Delta Air Lines, Inc.Supreme Court of the United States · 1983
- Cort v. AshSupreme Court of the United States · 1975
- Ashwander v. Tennessee Valley AuthoritySupreme Court of the United States · 1936
598 more not listed; retrieve them via the Exa API.