76 S.Ct. 32 (1955), Long Beach Federal Savings & Loan Association v. Federal Home Loan Bank of San Francisco

Citation76 S.Ct. 32, 100 L.Ed. 1517
Party NameLONG REACH FEDERAL SAVINGS and LOAN ASSOCIATION et al., Petitioners, v. FEDERAL HOME LOAN BANK OF SAN FRANCISCO, Federal Savings and Loan Insurance Corporation, Home Loan Bank Board, et al.
Case DateOctober 31, 1955
CourtUnited States Supreme Court

Page 32

76 S.Ct. 32 (1955)

100 L.Ed. 1517

LONG REACH FEDERAL SAVINGS and LOAN ASSOCIATION et al., Petitioners,

v.

FEDERAL HOME LOAN BANK OF SAN FRANCISCO, Federal Savings and Loan Insurance Corporation, Home Loan Bank Board, et al.

United States Supreme Court.

Oct. 31, 1955

OPINION

Page 33

Opinion of Mr. Justice DOUGLAS.

This complex litigation has been before this Court twice, Fahey v. Mallonee, 332 U.S. 245, 67 S.Ct. 1552, 91 L.Ed. 2030; Ex parte Fahey, 332 U.S. 258, 67 S.Ct. 1558, 91 L.Ed. 2041, and before the Court of Appeals for the Ninth Circuit on several occasions, Home Loan Bank Board v. Mallonee, 196 F.2d 336; Fahey v. O'Melveny & Myers, 200 F.2d 420; Fahey v. Calverley, 208 F.2d 197. Applicants seek a stay of a writ of mandamus and injunction issued by the Court of Appeals ordering, inter alia, the United States District Court for the Southern District of California to deliver to the Federal Home Loan Bank of San Francisco certain cash and securities now held in the District Court's registry. Federal Home Loan Bank of San Francisco v. Hall, 9 Cir., 225 F.2d 349, 386--394. Denial of the stay will have the effect of allowing the cash and securities to remain in the possession of the San Francisco Bank, restoring the Bank's position as a secured creditor. I do not read the writ of mandamus as authorizing the San Francisco Bank to foreclose this collateral nor as precluding the petitioners from raising the defense of absence or failure of consideration. The Court of Appeals has enjoined only the suits and cross-claims relating to the appointment of the conservator and the reorganization of respondent Bank. The Bank's right to recover on the loan and to foreclose the collateral is presently in dispute in a civil action pending before the District Court. Counsel for the Bank gave assurances at oral argument that the collateral would not be foreclosed pending the filing of a petition for a writ of certiorari by applicants and its disposition by this Court. Respondent is a responsible financial institution.

My power to grant the requested stay is clear. 28 U.S.C. s 2101(f), 28 U.S.C.A. s 2101(f). But even though it be assumed that petitioners have substantial questions to present in their petition for certiorari, no irreparable injury to petitioners by denial of the stay has been established to my satisfaction.

The application is therefore denied.

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  • 391 U.S. 930 (1968), Shiffman v. Selective Service Board No.5
    • United States
    • Federal Cases United States Supreme Court
    • May 27, 1968
    ...v. United States, 87 S.Ct. 3, 17 L.Ed.2d 41 (Mr. Justice Harlan)); Long Beach Federal Sav. & Loan Assn. v. Federal Home Loan Bank, 76 S.Ct. 32 (Mr. Justice Douglas); the existence of an important question not previously passed on by the Court (McLeod v. General Electric Co., 87 S.Ct. 5,......
  • 351 U.S. 922 (1956), 731, Long Beach Federal Sav & Loan Ass'n v. Federal Home Loan Bank of San Francisco
    • United States
    • Federal Cases United States Supreme Court
    • April 30, 1956
    ...Court. April 30, 1956 As Amended May 7, 1956. Appeal from the United States Court of Appeals for the Ninth Circuit. Former decision, 76 S.Ct. 32. Facts and opinion, D.C., 122 F.Supp. 960; D.C., 122 F.Supp. 401; Mallonee v. Fahey, D.C., 122 F.Supp. 472; Federal Home Loan Bank v. Hall, 9 Cir.......
  • 414 U.S. 1304 (1973), A-150, Holtzman v. Schlesinger
    • United States
    • Federal Cases United States Supreme Court
    • August 1, 1973
    ...side the risk of irreparable injury weighs most heavily. See, e.g., Long Beach Federal Sav. & Loan Assn. v. Federal Home Loan Bank, 76 S.Ct. 32, 100 L.Ed. 1517 (1955) (DOUGLAS, J., Circuit Justice); Board of Education v. Taylor, 82 S.Ct. 10 (1961) (BRENNAN, J., Circuit Justice); Sociali......
  • 233 F.Supp. 578 (S.D.Cal. 1964), 63-1072, Elliott v. Federal Home Loan Bank Bd.
    • United States
    • Federal Cases United States District Courts 9th Circuit Southern District of California
    • September 22, 1964
    ...U.S. 968, 76 S.Ct. 438, 100 L.Ed. 840; Long Beach Federal Savings & Loan Association v. Federal Home Loan Bank of San Francisco (1955) 76 S.Ct. 32, 100 L.Ed. 1517; Ammann v. Home Investment Co. (9 Cir. 1957) 243 F.2d 748, 758; Long Beach Federal Savings & Loan Association v. Federal......
  • Request a trial to view additional results
5 cases
  • 391 U.S. 930 (1968), Shiffman v. Selective Service Board No.5
    • United States
    • Federal Cases United States Supreme Court
    • May 27, 1968
    ...v. United States, 87 S.Ct. 3, 17 L.Ed.2d 41 (Mr. Justice Harlan)); Long Beach Federal Sav. & Loan Assn. v. Federal Home Loan Bank, 76 S.Ct. 32 (Mr. Justice Douglas); the existence of an important question not previously passed on by the Court (McLeod v. General Electric Co., 87 S.Ct. 5,......
  • 351 U.S. 922 (1956), 731, Long Beach Federal Sav & Loan Ass'n v. Federal Home Loan Bank of San Francisco
    • United States
    • Federal Cases United States Supreme Court
    • April 30, 1956
    ...Court. April 30, 1956 As Amended May 7, 1956. Appeal from the United States Court of Appeals for the Ninth Circuit. Former decision, 76 S.Ct. 32. Facts and opinion, D.C., 122 F.Supp. 960; D.C., 122 F.Supp. 401; Mallonee v. Fahey, D.C., 122 F.Supp. 472; Federal Home Loan Bank v. Hall, 9 Cir.......
  • 414 U.S. 1304 (1973), A-150, Holtzman v. Schlesinger
    • United States
    • Federal Cases United States Supreme Court
    • August 1, 1973
    ...side the risk of irreparable injury weighs most heavily. See, e.g., Long Beach Federal Sav. & Loan Assn. v. Federal Home Loan Bank, 76 S.Ct. 32, 100 L.Ed. 1517 (1955) (DOUGLAS, J., Circuit Justice); Board of Education v. Taylor, 82 S.Ct. 10 (1961) (BRENNAN, J., Circuit Justice); Sociali......
  • 233 F.Supp. 578 (S.D.Cal. 1964), 63-1072, Elliott v. Federal Home Loan Bank Bd.
    • United States
    • Federal Cases United States District Courts 9th Circuit Southern District of California
    • September 22, 1964
    ...U.S. 968, 76 S.Ct. 438, 100 L.Ed. 840; Long Beach Federal Savings & Loan Association v. Federal Home Loan Bank of San Francisco (1955) 76 S.Ct. 32, 100 L.Ed. 1517; Ammann v. Home Investment Co. (9 Cir. 1957) 243 F.2d 748, 758; Long Beach Federal Savings & Loan Association v. Federal......
  • Request a trial to view additional results