Central National Bank v. Reconstruction Finance Corp.

HOFFMAN, District Judge.

This is an action by The Central National Bank in Chicago against the Reconstruction Finance Corporation for breach of contract. Federal jurisdiction rests upon the ownership by the United States of the entire capital stock of the Reconstruction Finance Corporation, the requisite jurisdictional amount being involved. The statute creating the RFC and amendatory legislation provided that all of its stock be held by the United States Government, 15 U.S.C. § 601, 15 U.S.C.A. § 601. Any suit by or against the RFC is therefore a suit arising under the laws of the United…