Sachs v. Ohio Nat. Life Ins. Co.

MAJOR, Circuit Judge.

This appeal is from a decree of the District Court, entered November 19, 1943, dismissing plaintiffs’ suit for want of equity. The action, commenced January 3, 1942, sought enforcement of a Re-insur anee Agreement entered into November 19, 1930, between the Ohio National Life Insurance Co. (defendant) and the American Old Line Insurance Co., by which, it was alleged, the former became liable for the constitutional (Illinois) super-added liability on 1398 shares of bank stock owned by the latter.

Much litigation has preceded the instant suit in an effort by plaintiffs as…