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GENERAL DISCOUNT CORP. v. FIRST NAT. BANK-DETROIT

No. 12994.

5 F.Supp. 709 (1933)

GENERAL DISCOUNT CORPORATION v. FIRST NAT. BANK-DETROIT et al.

District Court, E. D. Michigan, S. D.

December 22, 1933.

Attorney(s) appearing for the Case

Oxtoby, Robison & Hull, of Detroit, Mich., for plaintiff.

Nichols, Morrill, Wood, Marx & Ginter, of Cincinnati, Ohio (Robert S. Marx and Lawrence I. Levi, both of Cincinnati, Ohio, of counsel), for receiver.

KNIGHT, District Judge.

The General Discount Corporation was organized October 28, 1932. It took over the assets and liabilities of the Federal Discount Corporation and the Republic Corporation. The Federal Discount Corporation had three subsidiaries, to wit: Federal Finance Company, Main Sales Company, and Green Agency, Inc. The General Discount Corporation and these subsidiaries each had funds on deposit on February 11, 1933, in the First National Bank, which was...

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