• H! THE DISTRICT COURT OF THE STATES, FOR THE MIDDLE DISTRICT OF GEORGIA, MAcon·n.rvrs.ron. Federal .Reserve :Bank of Atlanta, ) ( Complainant, ) ( ) ( vs ) ( ) Claude Gilbert, as Receiver of ( the Fourth :National :Bank of ) Macon, Georgia, et al. ( ) Defendants. · ( TO T"'rl]l H Oi:IORA:BLE, THE JUDGE OF SAID COURT : No. __ _ HJ EQ.UITY. :BILL OF INTERPLEADER. X-6277 Federal Reserve :Bank of Atlanta, averring itself to be a body corporate, organiz&d and existing under and by virtue of the laws of the United Sta.tes, having its principal office and place of business in the City of Atlanta, Fulton County, Georgia, brings this its bill of com- plaint, same being a bill of interpleader, against Claude Gilbert, the Q.uly and acting Receiver of the Fourth National :Bank of Macon, . .A! ["' t);.l_ii) Georgia, a national banking having its principal office and place of business in the City of Macon, Bibb County, Georgia, and in the Middle District of Georgia; Farmers National :sank of Monticello, Georgia, a national banking associat.ion under the laws of the United States, having ii•s principal office and place of business in the City of Monticello, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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•
H! THE DISTRICT COURT OF THE UN~TED STATES,
FOR THE MIDDLE DISTRICT OF GEORGIA,
MAcon·n.rvrs.ron.
Federal .Reserve :Bank of Atlanta, ) (
Complainant, ) ( ) (
vs ) ( )
Claude Gilbert, as Receiver of ( the Fourth :National :Bank of ) Macon, Georgia, et al. (
) Defendants. · (
TO T"'rl]l H Oi:IORA:BLE, THE JUDGE OF SAID COURT :
No. __ _
HJ EQ.UITY.
:BILL OF INTERPLEADER.
X-6277
Federal Reserve :Bank of Atlanta, averring itself to be a body
corporate, organiz&d and existing under and by virtue of the laws of the
United Sta.tes, having its principal office and place of business in the
City of Atlanta, Fulton County, Georgia, brings this its bill of com-
plaint, same being a bill of interpleader, against Claude Gilbert, the
Q.uly ap~qointed and acting Receiver of the Fourth National :Bank of Macon,
«'·--:~ . .A! ["' t);.l_ii)
Georgia, a national banking ~ssociation, having its principal office and
place of business in the City of Macon, Bibb County, Georgia, and in the
Middle District of Georgia; Farmers National :sank of Monticello, Georgia,
a national banking associat.ion under the laws of the United States, having
ii•s principal office and place of business in the City of Monticello,
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Jasper County, arid in the Middle Distric.t of Georgia; Monroe County Bank,
a corporation under the laws of the· State of Georgia, having its princi-
pal office and place of business in the City of Forsyth, Monroe County
and in the !f.iddle District of Georgia; First National Bank of Shellman,
Georgia, a national banking association under the laws of the United
States, having its principal office and place of business in the City
of ShellL.an, Randolph County and in the Middle District of Georgia;
First National Bank of Pelham, a national banking Association under the
laws of the United States, having its principal office and place of
business in the City of Pelham, Mitchell County and in the Middle Dis-
trict of Georgia; First National :Sank of Bainbridge, Georgia, a national
Banking Association under the laws of the United States, having its
principal office and place of business in the City of Bainbridge, Deca-.
tur County .and in the Middle District of Georgia; First llational Bank
of Ocilla, Georgia, a national banking association und~r the laws of the.
United States, having its principal office and place of business in the
City of Oci~la, Irwin County and in the Middle District of Georgia;
l3runswick Ba.nk: & Trust Company, a corporation under the laws of the
State of Georgia, having its principal .office and place of tusiness in
t:p.e City of Bru.nswick, Glynn County and in the Southern District of
Georgia; First National Bank of Reynolds, Georgia, a national banking
assoeiaUon Un.der the laws of the United States, having its Jr incipal
office and place of business in the Cl ty of Rey.nolds, Teylor County and
in the Middle District of ·Georgia;· iireit National :Ba.nk of Waycross,
Georgia, a national banking ·assoei·ation under the laws of the United
States, having its principal office and ·place of business in the City of
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Waycross, Ware County and in the Southern District of Georgia; First
National Bank of Vidalia, Georgia, a national banking association under
the laws of the United States, having its principal office and place of
business in the City of Vidalia, Toombs County, and in the Southern
District of Georgia; .. First National "Bank of Milledgeville, a national
banking association under the laws of the United States, having its
principal office and place of business in the City of Milledgeville,
Baldwin County and in the llliddle District of Georgia; City National
~nk of Knoxville, Tennessee, a national bru'lking association under the
laws of the .United States, having its principal office and place of . . .
business in the City of Knmxville, Knox County, Tennessee and ;in t)l~
Eastern Dist~ict of Tenne~s$e; and the tourth & First National Bank of
Na.shville, Tennes.see, a national banking association under the laws of
the United States, hav.i~g t ts principal office and place of business in
the City of ·nasl"lville, Davidson County, Tennessee and in the Middle Dis-
trict of Tennessee.
-z-
Said parties, that is to say, the said Claude Gilbert, as
Receiver., as aforesaid, and the various banking associations hereinabove
listed, are rna..de parties. d.efenda.nt to this action- Complainant avers
that all of said defendants can be reached by the processes of this
Court except the City National Bank of Knoxville, Tennessee and said
Fourth & First NatiollAl. Bank of Nashville, Tennessee, which said two
DSmed defendants this complainant is advised and believes will acknowl-
edge or w~ive service of subpoena and ~nter an appearance herein.
-3-
This cause arises under the Consti tut.ion and laws of the
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-JL·~ ~., t.JI.Ju > X .... 6277
United States for that one of the parties defendant, to-wit, Claude Gil"-
bert, is Receiver of the. Fourth National Bank of Macon, a national bank
ing association, as heretofore. stated,. he having been heretofore appointed
as such by the Honorable, the Comptroi1er of the· Currency of the United ' '
States, acting under ahd pursuant to the Statutes of the United States
for such cases made and provided, and, as such Receiver, ·being an officer
of the United States. The amount involved, exclusive of interest and
costs, exceeds the sum or value of three thousand dollars.
-4-
This is a suit in equity. to-'l'lit, a bili of :interplehde:r,
seeking such equitable relief as is hereinafter ptJ!ved.
-5-
Complainant is one of the twelve Federal .Reserve :Banks organ- .
ized and now functioning pursuant to 'that certain Act o:f Co:qgress kno1fd
as the Federal Reserve Act, as from time to time a.mende·d~.
-6-
All of the banking corporations hereinAbOVe tlar.aed. are member. ·
banks of cpinplainant except that said Fourth National. ~nk of Macon, now
being liquidated as aforesaid,, is not now a member bank, the capital stock
holdings of said Fourth National Bank in complainant: having been hereto-
fore withdrawn by the. Receiver pursuant to law.
-7-
.Among. the functions of complainant as a Federal Reserve Bank
is to take on deposit the reserv:e accounts .or balances of its .member banks,
and each of the abo'Ve mentioned, .defendant banks maintained at all the dates
and times herein named, .a.n.d now .maintains, its reserve. account with com-
l'l!Una.nt •. S~~d FQurth :Na.t;tonal Bank o.f Macon also maj.ntained its reserve
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bala.nGe with complainant and a portion of the same, to-wit, the fund
herein mentioned, still remains on deposit.
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The reserve account of a member bank is that balande required
by law to be maintained with the Fe-deral Reserve Bank of the District in
which the member .is located. Said reserve balance is an account subject
to withdrawal by check of the depositor and is otherwise governed (in so
far ~s is material for the purposes of this action) by the ordinary rules,
usages and practic.es o.btaining between a bank of deposit and it~ deposit{)rs ...
-9-
• .Alnong the other functions of this complainant as a ]!led,.eral :R,eserve
:Ba,~ is the co.llection, for the account of its member banks. other Federal
Reserve Banks, the Uni.ted States, and others entitled to use the collectton
facUlties of the Federal Reserve System, of checks and drafts dn.wn up:en
"bt4.nks in the Sixth federal Reserve District and pqable at par.,
-10-
In pursuance of its functions as a Federal, Reserve Bank:~ Complain-
aliJ.t received from time to time from the above mentioned d.efen~.t bank~, as
1r•11 as from said Fourth National :Bank of Macon, deposits of fu,nds and
checks and drafts for credit to their respective reser'l(e accounts, Complain-
ant also sent to each of said banks, for collection or payment an~ remitt~ce,
c~ecks and drafts drawn upon or collectible by t:hem~ Said banks would,.
~stomarily, remit for such items, so sent for payment or collection, by ;
drafts drawn upon their sai-d ,.reserve accounts qr in acceptable exchange,
or b1 written authorization to complaiD&Ilt to charge such reserve accounts
with the amounts te be remitted.
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CJJt. r:-0..::.:_"""
X-6277
Checks or draft·s,.. ·'Wl}en forwarded by complai~t to other banks
for collection or payment and remittance, are enclosed with what is known
as "cash letters11 and remittances therefor are made for the aggrega.~e amount
f)f the same as reduced by particular items, checks or drafts which are not
paid or collected by the addressee. bank.'
-12-
Prior to November 26, 1928, and up until about noon on said date,
said Fourth National Bank of Macon wae an active, going institution, ciperat-
ing as a. national banking association. · As such,· it maintained, as heretofore
stated, its reserve account with complainant~ At the instance of said Fourth
· National :Bank, complainant had agreed to receive~ when tendered· by any of the
above named defendant banks, checks drawn. by them or any of· them on said
Fourth National Bank of Macon and sent to complainant either in remittance
for cash letters or for credit to the reserve accounts maintained ~ith com-
plainant by said defendant banks, under an arrangement calling for what was
termed "immediate debit" to the reserve account of said Fourth National
Bank of Macon: that is to say, when and as any of said defendant banks sent
to complainant a check drawn upon said Fourth National Bank of Macon, whether
the same was sent in remittance for collections or for credit to the reserve
account of the bank sending the check to complainant, the amount thereof
would be immediately eba.r.ge.d against the reserve .account of the Fourth Na-
tio:na,J. Bank; it havillg· be.en understood, however, that payment of any ~Puch
check should not [)e cons~dered ~s. final until said Fourth National Bapk of • •
Ma.con had had time·to:rec~ive the same anQ.report thereon.
-13-
The a.gre.em~~ts under which said checks. were. to be received for
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ltimmedia.te 4ebitn· w&re in writing, each signed by said Fourth National
:Bank of Mac~n, . Geo'rgia; addressed to complainant and drawn in the fol-
lbwing form!
To the· FEDERAL RESERVE BANK OF .ATLANTA, Date
The ·--~--~--~~~--~~~------------Name of Bank
Location
·may .. have occas.ion from time to time to remit you, by its check or checks on the· undersigned, for collections sent it by.you, or for-credit to its reserve account with you, or the barik mentioned may desire to remit us for your credit. and advice. This will be your authori-ty to debit our account immediately upon receipt, with cheCks drawn .on us. by the a.pove mentioned bank, given you in payment of collections, or sent you for credit to its reserve ac...; count,·. or you ~- cha.+ge our account ilD!iediate:J,y with .amount of such adviees as you rrJa3' receive from it, that remittances have been made to us, for your credit and advice. PROVIDED, however, that p~nt ·shall not be considered as final on such checks as you charge to· us, until we have had time to receive the checks and report on same, ~e· agreeing to ·wire at your expense non-payment of all checks $250'.00 or over, not good on our books . when received,. nor shall payment be considered as final where ·you charge· our account with amount of advices, re.ceived from the above mentioned barik, thS.t• remittances
.. have been made t;o us for your credit, until sufficient .time has. elapsed-for you to receive notice :from us as to whether or not such remittances have reached us and haV:e. been credited. We agre~ t!> ··maintain on d.eposit
. with the Federal Reserve :Bank of Atlanta sufficient collected, available fu~ds, over and above the amoUnt of
· ()ur required reserve with you1 to·· cover such checks or .. advicEls of remittances as described above.
i Sgd) . ·. FOURW NA:riOIAL BANK OF
JWiON; . GEORGIA.. II •
Each of said orig:illal: writi:ggs' shows ·the name of one of the
defendant bariks as being an: .. instj,tution to be accorded the benefits of
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!'~t .. p I"' I u.L -8- X-62~7
the arranger.uent for 11 imL1ed.iate debit." If required so to do by the Court,
complainant will produce at any hearing of this cause the signed originals
of the said contracts.
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On the morning of November 26, 1928, at the opening of complain
ant's business for that day and before said Fourth National Batik of Macon •
had been taken.over by the Comptroller of the Currency, complainant received
from the defendants next hereinafter listed certain checks, all drawn upon
said Fourth National Bank of Macon in the following respective amounts, that
is to say:
Farmers National Bank, Mcinr oe County Bank, First National Bank, First ~rational Bank, First li!ational Bank, First National Bank, Brunswick ~ & Tr Co. First National Bank,
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GEORGIA, FULTO£-T COUUTY.
Before me, a notary public in and for said County,
personally appeared Creed Taylor; who• being duly sworn,
deposes and says that he is Deputy Governor of the Federal
Reserve Bank of Atlanta, complainant in the within and
foregoing bill, and that, as such officeri he is authorized
to make this affidavit.
X-6277
Deponent fu:rther says that the averments set forth
in said bilit where charged positively are true and that such
averments as are therein made upon information and belief are
true to the best of deponent's information, knowledge and be-
lief.
Deponent further says that said bill is not filed
by the complainant in collusion with any or either of the
defendants in said bill named, but that it is filed by
complainant of its own accord for relief in this Honorable
Court.
CREED TAYLOR
Sworn to and subscribed before me,
this the _!§_ day of February, 1929.
Notary Public
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X-6277
IN m:i :PISTRICT COURT. OF 'IRE tnTITED STATES,
FO!t M l•illmLE DISTRICT OF G'EORGIA,
MACON l;>IVISION.
Federal Reserve Bank of Atlanta, ) (
Complainant ) lTo. ( ) (
vs ~ ) U! :EQUITY. ( )
Olaud.e Gilbez:t, as Receiver of { the Fourth National J3a.nk of ) l.~con, Georgia, at al ,_ (
) l)efendants. ( BILL OF n~t.]A.IbR.
1',he within Bill of Interoleader raad and consi'der.ed-:: Let the same. be filed and subpoena-;. ise~ed as is in. accor.da.nee wi::th su~h cases and. as is required by the equity t:uies of this C?urt.
lt is, :t)lrthe.r ordered that the d.efend.ant·s, and each o-f- them, show cause before me on. the 15 _ day of :v:ar'Ch. , . 1'929; at !Q o t·clt>Ck A~-1~: ... why they should nrtbe required by·~rder o:£ this Co.urt to interplead as prayeQ. in, complainant •·:a bill,. and wh;J the complainant should not p.ave the relief in and by said bill s-ought. Let this order and a co-.;y of said 1;)~11 ba served upon each of said defendants unl-ess the: ack:not.1odge service of the same"' ·
T,his ~o _.!§. day of February .. 1929.;
._. _ BA.SCOli'.i S •. W.m JUdge Vni ted States Court •. ;
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