71 F.2d 669 (2nd Cir. 1934), 317, Campbell v. Chase Nat. Bank of City of New York

Docket Nº:317.
Citation:71 F.2d 669
Party Name:CAMPBELL v. CHASE NAT. BANK OF CITY OF NEW YORK.
Case Date:June 18, 1934
Court:United States Courts of Appeals, Court of Appeals for the Second Circuit
 
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Page 669

71 F.2d 669 (2nd Cir. 1934)

CAMPBELL

v.

CHASE NAT. BANK OF CITY OF NEW YORK.

No. 317.

United States Court of Appeals, Second Circuit.

June 18, 1934

Frederick B. Campbell, of New York City (Paul C. Whipp and Lounsbury D. Bates, both of New York City, of counsel), for appellant.

Mudge, Stern, Williams & Tucker, of New York City (James F. Sandefur, of New York City, of counsel), for appellee.

Before MANTON, L. HAND, and SWAN, Circuit Judges.

MANTON, Circuit Judge.

The appellant in October, 1932, and January, 1933, owned marked bars of gold bullion which he delivered to the appellee for safe-keeping. On September 13, 1933, appellee notified appellant that it was required to surrender such gold bullion because of and pursuant to an executive order of the President of the United States. On September 16, 1933, appellant, in writing, demanded forthwith delivery of the gold to him, which demand was refused. Whereupon this suit was started asking an injunction pendente lite. After answer, a motion for judgment on the pleadings was made by the appellant. Judgment went against appellant, and the complaint was dismissed for want of jurisdiction.

Congress passed an Act March 9, 1933 (48 Stat. 1) under section 2 of which (50 USCA appendix 5) the Resident promulgated executive orders dated, respectively, April 5, 1933 (No. 6102 (12 -usca 248 note) and August 28, 1933 (No. 6260 (12 USCA 95 note)). The Act of March 9, 1933, amended section 5 of the Act of Congress of October 6, 1917 (Trading with the Enemy Act), and declared an emergency to exist, making it imperatively necessary and authorizing the President, during such national emergency to 'investigate, regulate, or prohibit, under such rules and regulations as he may prescribe * * * hoarding, melting, or earmarking of gold or silver coin or bullion * * * by any person within the United States; * * * and the President may require any person engaged in any transaction referred to in this subdivision to furnish under oath, complete information relative thereto. * * * ' For a willful violation of the statute, fine or imprisonment or both might be imposed.

The President's Executive Order of April

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5, 1933, declared the national emergency still in existence and prohibited the hoarding of gold coin or gold bullion within the continental United States, and prescribed regulations for carrying out the purposes of that order. By the...

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