Schram v. Clair

GALSTON, District Judge.

Cross motions are made for summary judgment.

The complaint alleges that the First National Bank — Detroit closed its doors on February 11, 1933, and did not thereafter resume the conduct of normal banking business; that on March 13, 1933, the Comptroller of the Currency, pursuant to authority of the act of Congress known as the Bank Conservation Act, 12 U.S.C.A. §§ 201-211, having found that said First National Bank — Detroit was unable to carry on its ordinary business without prejudice to the rights of depositors or other creditors, appointed a conservator, and that…