211 F.Supp. 576 (D.D.C. 1962), Civ. A. 1857-62, Bank of New Orleans & Trust Co. v. Saxon

Docket NºCiv. A. 1857-62
Citation211 F.Supp. 576
Party NameBank of New Orleans & Trust Co. v. Saxon
Case DateNovember 05, 1962
CourtUnited States District Courts, United States District Court (Columbia)

Page 576

211 F.Supp. 576 (D.D.C. 1962)

BANK OF NEW ORLEANS AND TRUST COMPANY et al., Plaintiffs,

v.

James J. SAXON, Comptroller of the Currency, Defendant, Whitney National Bank in Jefferson Parish, Intervening Defendant.

Civ. A. No. 1857-62.

United States District Court, District of Columbia.

Nov. 5, 1962

Edward L. Merrigan, Washington, D.C., of Counsel, Ralph Fishman, A. J. Waechter, Jr., New Orleans, La., James W. Bean, Lafayette, La., G. Harrison Scott, New Orleans, La., for plaintiff Bank of New Orleans and Trust Co.

Bentley G. Byrnes, Asst. Atty. Gen., of Louisiana New Orleans, for intervening plaintiff State Bank Commissioner of Louisiana.

Robert Bloom, Chief Counsel to the Comptroller of the Currency and Joseph D. Guilfoyle, Donald B. MacGuineas, David V. Seaman, Attys., Dept. of Justice. David C. Acheson, U.S. Atty., Washington, D.C., of counsel, for defendant James J. Saxon, Comptroller of the Currency.

Dean Acheson, Hamilton Carothers, W. Graham Claytor, Jr., Brice M. Clagett, Washington, D.C., and Malcolm L. Monroe, New Orleans, La., of counsel, Covington & Burling, Washington, D.C., and Monroe & Lemann, La., Walter J. Suthon, III, and Jerry A. Brown, New Orleans, La., for intervening defendant Whitney Nat. Bank in Jefferson Parish.

James F. Bell, Washington, D.C., for Nat. Ass'n of Sup'rs. of State Banks, amicus curiae.

McLAUGHLIN, District Judge.

On October 3, 1961, the Comptroller of the Currency gave preliminary approval to the formation of two new national banks, the Crescent City National Bank and the Whitney National Bank in Jefferson Parish, Louisiana, subject to approval by the Federal Reserve Board of the formation of a holding company for the purpose of acquiring the stock of such banks, pursuant to the Bank Holding Company Act of 1956. On May 3, 1962, the Federal Reserve Board approved the application of Whitney Holding Corporation to become a bank holding company by acquiring the stock of the above two mentioned banks. Subsequently, the Comptroller approved the consolidation of the existing Whitney National Bank in New Orleans into the Crescent City National Bank under the name of the Whitney National Bank in New Orleans and

Page 577

this was accomplished. The Holding Corporation, previously organized under Louisiana law, then completed the organization of the Whitney National Bank in Jefferson Parish by purchasing all of its stock for $650,000.00. At that time the Articles of Association and the Certificate of Organization of the Whitney National Bank in Jefferson Parish had already been executed and filed with the Comptroller. On June 9, 1962, just as the Comptroller was about to issue a Certificate of Authority to permit that Bank to commence business this suit was instituted praying for a declaratory judgment and an injunction prohibiting him from issuing said certificate.

A temporary restraining order was issued by this Court on June 27, 1962, followed by a temporary injunction which took effect on the same day on which the Louisiana State Legislature passed a...

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5 practice notes
  • 323 F.2d 290 (D.C. Cir. 1963), 17672, Whitney Nat. Bank in Jefferson Parish v. Bank of New Orleans & Trust Co.
    • United States
    • Federal Cases United States Courts of Appeals United States Court of Appeals (District of Columbia)
    • August 14, 1963
    ...deemed it unnecessary to consider whether the establishment of Whitney-Jefferson violated 12 U.S.C. § 36(c). His opinion is reported in 211 F.Supp. 576 Findings of fact and conclusions of law were filed by Judge McLaughlin December 5, 1962. The findings include the following: '4. Intervenin......
  • 379 U.S. 411 (1965), 26, Whitney National Bank in Jefferson Parish
    • United States
    • Federal Cases United States Supreme Court
    • January 18, 1965
    ...from issuing the certificate. A permanent injunction was issued against the Comptroller restraining the issuance of the authority. 211 F.Supp. 576. On appeal, the Court of Appeals upheld the jurisdiction of the District Court, rejecting the contention that the competitor banks lacked standi......
  • 803 F.Supp. 24 (E.D.Ky. 1992), Civ. A. 91-3, Owensboro Nat. Bank v. Moore
    • United States
    • Federal Cases United States District Courts 6th Circuit United States District Court of Eastern District of Kentucky
    • August 4, 1992
    ...451 F.2d 86 (8th Cir.1971) (regulation of bank holding companies and branch banking); Bank of New Orleans & Trust Co. v. Saxon, 211 F.Supp. 576 (D.D.C.1962), aff'd 323 F.2d 290 (D.C.Cir.1963), rev'd on jurisdictional grounds, 379 U.S. 411, 85 S.Ct. 551, 13 L.Ed.2d 386 (1965) (regulation......
  • 189 So.2d 430 (La.App. 1 Cir. 1966), 6745, Whitney Nat. Bank in Jefferson Parish v. James
    • United States
    • Louisiana Court of Appeal of Louisiana (US)
    • June 13, 1966
    ...plaintiff, reaching the following legal conclusions (See Bank of New Orleans and Trust Company, et al. v. James J. Saxon, D.C ., 211 F.Supp. 576): 'CONCLUSIONS OF The Court has jurisdiction over this action under 28 U.S.C. § 1331, and under the provisions of Sections 11--305, 306 of the Dis......
  • Request a trial to view additional results
5 cases
  • 323 F.2d 290 (D.C. Cir. 1963), 17672, Whitney Nat. Bank in Jefferson Parish v. Bank of New Orleans & Trust Co.
    • United States
    • Federal Cases United States Courts of Appeals United States Court of Appeals (District of Columbia)
    • August 14, 1963
    ...deemed it unnecessary to consider whether the establishment of Whitney-Jefferson violated 12 U.S.C. § 36(c). His opinion is reported in 211 F.Supp. 576 Findings of fact and conclusions of law were filed by Judge McLaughlin December 5, 1962. The findings include the following: '4. Intervenin......
  • 379 U.S. 411 (1965), 26, Whitney National Bank in Jefferson Parish
    • United States
    • Federal Cases United States Supreme Court
    • January 18, 1965
    ...from issuing the certificate. A permanent injunction was issued against the Comptroller restraining the issuance of the authority. 211 F.Supp. 576. On appeal, the Court of Appeals upheld the jurisdiction of the District Court, rejecting the contention that the competitor banks lacked standi......
  • 803 F.Supp. 24 (E.D.Ky. 1992), Civ. A. 91-3, Owensboro Nat. Bank v. Moore
    • United States
    • Federal Cases United States District Courts 6th Circuit United States District Court of Eastern District of Kentucky
    • August 4, 1992
    ...451 F.2d 86 (8th Cir.1971) (regulation of bank holding companies and branch banking); Bank of New Orleans & Trust Co. v. Saxon, 211 F.Supp. 576 (D.D.C.1962), aff'd 323 F.2d 290 (D.C.Cir.1963), rev'd on jurisdictional grounds, 379 U.S. 411, 85 S.Ct. 551, 13 L.Ed.2d 386 (1965) (regulation......
  • 189 So.2d 430 (La.App. 1 Cir. 1966), 6745, Whitney Nat. Bank in Jefferson Parish v. James
    • United States
    • Louisiana Court of Appeal of Louisiana (US)
    • June 13, 1966
    ...plaintiff, reaching the following legal conclusions (See Bank of New Orleans and Trust Company, et al. v. James J. Saxon, D.C ., 211 F.Supp. 576): 'CONCLUSIONS OF The Court has jurisdiction over this action under 28 U.S.C. § 1331, and under the provisions of Sections 11--305, 306 of the Dis......
  • Request a trial to view additional results