Legal Opinion
Peoples Savings Bank v. Stoddard
Michigan Supreme Court
Decided April 11, 1960No. Docket Nos. 37, 38, Calendar Nos. 47,277, 48,190PublishedCited by 26 opinions
1Opinion of the CourtEdwards, J.
We deal here with a story of..high finance and less lofty subterfuge. By this latter means the defendant Michigan National Bank sought to accomplish indirectly that which State and Federal law prohibited it to do directly. It secured the purchase of 2/3 of the capital stock of the Peoples Savings Bank of Port Huron for the purpose of having that stock voted for dissolution. The net effect of the plan, if carried to completion, would be to leave Michigan National’s Port Huron branch the only bank in Port Huron authorized to carry on a general banking business.
In seeking to accomplish this…
2Cases cited49 opinions
- United States v. Socony-Vacuum Oil Co.Supreme Court of the United States · 1940
- Northern Pacific Railway Co. v. United StatesSupreme Court of the United States · 1958
- Standard Oil Company of New Jersey, Appts. v. United StatesSupreme Court of the United States · 1910
- Morgan v. CommissionerSupreme Court of the United States · 1940
- International Salt Co. v. United StatesSupreme Court of the United States · 1947
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3Cited by26 opinions
- Sheet Metal Workers Local 441 Health & Welfare Plan v. Glaxosmithkline, PLCDistrict Court, E.D. Pennsylvania · 2010
- Fenestra Inc. v. Gulf American Land Corp.Michigan Supreme Court · 1966
- R. E. Spriggs Co. v. Adolph Coors Co.California Court of Appeal · 1974
- Heath Consultants, Inc. v. Precision Instruments, Inc.Nebraska Supreme Court · 1995
- State v. Sterling Theatres Co.Washington Supreme Court · 1964
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