La Grande Institution Questions Power of Controller.
Power of the controller of currency of the United to appoint a ceiver for bank is questioned in the suit of the United States bank of La Grande filed yesterday in federal court against J. W. Pole, controller of the currency of the United States, and Hugh A. Bodmer. The complaint an injunction ing and enjoining the from
Power of the controller of currency the United States appoint ceiver for bank in the of the United States National bank of La Grande filed yesterday in federal against Pole, controller of the currency of the United States, Hugh Bodmer The complaint asks an injunction straining and enjoining the receiver from with the affairs of the bank or in any way acting Bank examiners on March 1932, directors United States National bank of La Grande steps consolidation the La Grande National bank join organization new tional bank, the First tional bank La Grande, the plaint sets forth. The plaintiff ranged for organization of bank, obtaining waivers from its positors amounting to transferring assets the bank, further protests the appointment of Hugh Bodmer receiver. Bowerman and Kavanaugh, of Portland, are attorneys for the United States National bank. and sumed that the United States disattorney Portland will act for the comptroller of the currency.
Judge Fee Sustains Appointment for
National
PORTLAND Oct. The authority of the comptroller of the United States currency to appoint receiver for the United States Na. tional bank at La Grande, even after the bank had been liquidated voluntarily and new bank formed. was sustained in ruling here Thursday by Federal Judge James Alger Fee. The Bank was liquidated voluntarily last March. and a new bank. ing association, known as the First National bank was formed. Judge Fee's opinion sustained the motion of H W. Poole, comptroller of the currency to dismiss the complaint of the bank which sought to enjoin him from appointing receiver. The liquidated bank at the time of the reorganization. turned over to the new institution on direction of bank examiners A $50,000 promissory note The complaint charg- Portland that the receiver appointed by Reno the comptroller levied assessments and is seizing assets of the old bank
Ruling Upon Bank Receiver Sustained By Judge Alger Fee
Oct. authority the comptroller of the United States currency appoint receiver for the United States National Bank at La Grande, even after the bank had been liquidated voluntarily and new bank formed. was sustained ruling here Thursday by Federal Judge James Alger The bank was liquidated voluntarily last March, and new banking association, known the First National Bank, was formed. Judge Fee's opinion sustained motion of H. W. Poole. comptrolled of the currency, to dismiss the of the bank which complaint sought enjoin him from appointing receiver. The liquidated bank at the time the reorganization. turned over the new institution direction bank examiners, $50,000 promissory note. The complaint charged that the received appointed by the comptroller levied sand is seizing assets of the old bank.
Bank Receiver Ruling Upheld PORTLAND, Oct. 28. (AP) - The authority of the comptroller of the United States currency to appoint a receiver for the United States National Bank at La Grande, even after the bank had been liquidated voluntarily and a new bank formed, was sustained in ruling here Thursday by Federal Judge James Alger Fee.