John R. FREEMAN, Appellant, v. MARINE MIDLAND BANK-NEW YORK, Appellee

HAYS, Circuit Judge:

In January, 1971, appellant John R. Freeman filed a complaint seeking a judgment declaring his various obligations to the Community Bank of Lyn-brook, Long Island, void as extensions of credit in violation of Regulation U of the Board of Governors of the Federal Reserve System. He claimed that the bank lent him the full purchase price of stocks listed on national securities ex changes for the purpose of purchasing and carrying such stocks, and that his indebtedness was evidenced by “written negotiable instruments,” in the hands of the bank or its assigns, the cancellation…