UNITED 77777St EXECUTIVE OFFICERS

President

Secretary of Treasury

Comptroller of Currency

Secretary of State

Secretary of War Secretary of Navy Secretary of Interior Secretary of Agriculture

Secretary of Commerce Secretary of Labor Postmaster General Attorney General

UNITED 77777St......

EXECUTIVE OFFICERS

- Woodrow Wilson (re-elected Nov. 1916, inaugurated March 4, 1917

- Carter Glass (appointed Dec. 16, 1918, served until Feb. 1, 1920)

David F. Houston (appointed Feb. 2, 1920, served until March 3, 1921)

- John Skelton Williams (date of appointment Feb, 2, 1914, resigned March 2, 1

- Robert Lansing Bainbridge Colby

- Newton Baker - Josephus Daniels

-John B. Payne - David F. Houston

Edward T. Viredith - Joshua W. Alexander - William B. Wilson - Albert S. Burleson - A. Mithhell Palmer

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

19 2 0 December

|

U. S. GOVERNMENT

S EN A TE

Banking and Currency Committee

66th Congress

Republicans

McLEAN, George P. PAGE, Carroll S. GRONNA, Asle J. NORRIS, George W. FRELINGHUYSEN, Joseph PENROSE, Boies CALDER, William M. NEWBERRY, Truman H. KEYES, Henry W.

Connecticut Vermont North Dakota Nebraska New Jersey Pennsylvania New York Michigan New Hampshire

OWEN, Robert L. HITCHCOCK, Gilbert M. POMERENE, Atlee FLETCHER, Duncan U. KENDRICK, John B. HENDERSON, Charles B. WALSH, David I.

Oklahoma Nebraska Ohio Florida Wyoming Nevada Massachusetts

Democrats

~I ____ _


1920 December U. S. G 0 VERNMENT

HOUSE OF REPRESENTATIVES

Banking and Currency Committee

66th Congress

Republicans Democrats

McFADDEN, Louis T. DALE, Porter H. McCULLOCH, Roscoe C. KING, Edward J. SCOTT, Frank D. NELSON, Adolphus P. STRONG, James G. ECHOLS, Leonard S. BROOKS, Edward S. HILL, William H. LUCE, Robert BURDICK, Clark

Pennsylvania Vermont Ohio Illinois Michigan Wisconsin Kansas West Virginia Pennsylvania New York Massachusetts Rhode Island

PHELAN, Michael F. EAGLE, Joe H. WINGO, Otis S.EAGALL, Henry B. HAMILL, James A. LONERGAN, Augustine BRAND, Charles H. STEVENSON, William F.

Massachusetts Texas Arkansas Alabama New Jersey Connecticut Georgia South Carolina

-- ~ -


FEDERAL RESERVE BOARD

Ex Officio Members W. P. G. Harding, Governor

David Houston, Albert Strauss, Vice Governor Secretary of the Treasury, (retired March 15)

Chairman Edmund Platt, Vice Governor John Skelton Williams, (succeeded Strauss, July 23)

Comptroller of the Currency R. G. Emerson, Assistant to Governor (appointed Oct. 16)

Adolph C. Miller Charles S. Hamlin Henry A. Moehlenpah (term expired 9/5) D. C. Wills (succeeded Moehlenpah 9/20)

Secretary's Office W. T. Chapman, Secretary (resigned Nov. 1) W. W. Hoxton , (succeeded Chapman Nov. 1)

W. W. Hoxton, Asst. Secretary (before Nov. 1) R. G. Emerson, Asst. Secretary Walter L. Eddy, Asst. Secretary, (October 16)

George L. Harrison, General Counsel (resigned late in the year)

W. S. Logan, General Counsel (succeeded Harrison)

(Turn)

Division of Operations and Examination James F. Herson, Chief

_ _


Division of Analysis and Research

H. Parker Willis, Director

Division of Foreign Exchange

J. E. Crane, Acting Director

Division of Reports and Statistics

E. L. Smead, Chief


S1920FEDERAL RESERVE SYSTEM

FEDERAL ADVISORY COUNCIL

District

District

District

District

District

District

District

District

District

District

District

District

No.

No,

No.

No.

No.

No.

No.

No.

No.

No.

No.

No.

(Boston)

(New York)

(Philadelphia)

(Cleveland)

(Richmond)

(Atlanta)

(Chicago)

(St. Louis)

(Minneapolis)

(Kansas City)

(Dallas)

(San Francisco)

Philip Stockton

A. B. Hepburn

L. L. Rue, Vice President

W. S. Rowe

Joseph G. Brown

Oscar Wells

James B. Forgan, President

F. 0. Watts

C. T. Jaffray

E. F. Swinney

R. L. Ball

A. L. Mills Merritt H. Grin, Secretar

1 ~

J J

-


Federal Reserve Bank of Boston (Dist. 1)

Governor

Deputy Governors

Chairman and Federal Reserve Agent

Deputy Chairman

Assistant Federal Reserve Agent

FFICERS

- Charles A. Morss

- C. C. Bullen W. W. Paddock

- Frederic Curtiss

- Allen Hollis

- Russell B. Spear

1920


Federal Reserve Bank of Boston (Dist. 1)

DIRECTORS

Class A

BEAL, Thomas P. (Boston, Mass.) KENNARD, Edward S. (RUmford, Me.) CHAMBERLAIN, F. S. (New Britain, Conn.)

Class B

ALLEN, Philip R. (East Walpole, Mass.) WASHBURN, Chas. G. (Worcester,Mass.) MORSE, Edmund R. (Proctor,Vt.)

Term Expires Dec. 31

1920 1921 1922(elected)

1920 1921 1922 (re-elected)

Class C

CURTISS, Frederic H. (Boston Mass.) Chairman and FR Agent HOLLIS, Allen (Concord, N.H.) Deputy Chairman METCALF, Jesse H. (Providence, R.I.)

1920 1921 1922 (re-appointed)

-r*----~---- -I


1920 Federal Reserve Bank of New York (Dist. 2)

OFFICERS

Governor

Acting Governor

Deputy Governors


Deputy Chairman


- Benjamin Strong (on leave of absence)

- J. H. Case

- L, F. Sailer E. R. Kenzel G. L. Harrison

- Pierre Jay

- George F. Peabody

Shepard Morgan


1920 Federal

CLASS A

ALEXANDER, James S. (New York)

TREMAN, Robert H. (Ithaca)

SMITH, Charles, (Oneonta)

CLASS B

STONE, Charles A. (New York)

*THOMPSON, William B. (Yonkers)

PALMER, Leslie R. (Croton-on Hudson)

CLASS C

JAY, Pierre (New York)

SAUNDERS, William L. (Plainfield)

PEABODY, George F. (Lake George)

*WILLIAMS, Richard H. (Madison)

Reserve Bank of NEW YORK (Dist. 2)

DIRECTORS Dec. 31

Term Began Term Endec

1/1/20 1922 (el

1/1/18 1920

3/119 1921

1/1/20

1/1/18

1/1/19

1/1/20

1/1/18

1/1/19

6/1/20

1922

1920

1921

1922

1920

1921

1920

ected)

(elected)

(resigned 12/22/19)

(reappointed) (Chairman)

(reappointed) (Dep Chairmai

:r


Federal Reserve Bank of Philadelphia (Dist. 3)

OFFICERS

Governor, E. Pussey Passmore

George W. Norris

Deputy Governor, Wm. H. Hutt, Jr.


Deputy Chairman

Asst. Federal Reserve Agent

(elected April 5)

Richard L. Austin

Henry B. Thompson

Arthur E. Post


Federal Reserve Bank of Philadelphia (Dist.

c

DIRECTORS

Term Expires Dec. 31Class A

WAYNE, Joseph (Jr.) (Philadelphia Pa.) DOUGLAS,Francis (Wilkes-Barre, Pa.) MURPHY, M. J. (Clarks Green, Pa.)

1920 1921 1922 (re-elected)

Class B

STUART, Edwin S. (Philadelphia, Pa.) HADDON, Chas. K. (Camden, N. J.) JOHNSON, Alba B. (Philadelphia, Pa.)

Class C

AUSTIN, Richard L. (Philadelphia, Pa.) Chairman and FR Agent HARRISON, Chas. C. (Philadelphia, Pa.) THOMPSON, H. B. (Wilmington, Del.) Deputy Chairman

1920 1921 1922(re-elected)

1920 1921 1922 (re-appointed)

3)


1920Federal Reserve Bank of Cleveland (Dist. 4)

Governor

Deputy Governors

Chairman and Federa Reserve Agent

Deputy Chairman


Acting Federal Reserve Agent

OFFICERS

- E. R. Fancher

- M. J. Fleming Frank J. Zurlinden

l - D. C. Wills

- Lewis B. Williams

- J. C. Nevin

- Lewis B. Williams (after September 30)


Federal Reserve Bank of Cleveland (Dist. 4)

DIRECTORS

Term Expires Dec, 31Class A

WARDROP, Robert (Pittsburgh, Pa.) SAMS, 0. N. (Hillsboro, Ohio) LAMBERTON, Chess (Franklin, Pa.)

1920 1921 1922 (elected)

Class B

COMBS, T. A. (Lexington, Ky.) STAMBAUGH, John (Youngstown, Ohio) WRIGHT, R. P. (Erie Pa.)

1920 1921 1922 (re-elected)

Class C

WILLS, D. C. (Cleveland, Ohio) Chairman and FR Agent WOLFE, H. P. (Columbus, Ohio) WILLIAMS, Lewis B. (Cleveland, Ohio) Deputy Chairman

1920 (resigned Sept. 30) 1921 1922 (appointed)


1920Federal Reserve Bank of Richmond (Dist. 5)

Governor

Deputy Governors

Asst. to Governor


Deputy Chairman


FFICERS

- George J. Seay

C. A. Peple R. H. Broaddus

- A. S Johnstone John S. Walden

- Caldwell Hardy

- James A. Moncure

- J. G. Fry

~i_ ~____ _ __I ___ __


__ p_


MANN, Edwin (Bluefield, W. Va.) RIEMAN, Chas. E. (Baltimore, Md.) BRUTON, J. F. (Wilson, N.C.)

Class B

COKER, D. R. (Hartsville, S.C.) STRUDWICK, Edmund (Richmond, Va.) OYSTER, James F. (Washington, D. C. )

1920 1921 1922 (re-elected)

1920 1921 1922(re-elected)

Class C

HARDY, Caldwell (Richmond, Va.) Chairman and FR Agent BRUCE, Howard (Baltimore, Md.) MONCURE, James A. (Richmond, Va.) Deputy Chairman

1920 1921 1922(re-appointed)

Federal Reserve Bank of Richmond (Dist. 5)

DIRECTORS


Federal Reserve Bank of Atlanta (Dist. 6)

OFFICERS

Governor

Deputy Governor


Deputy Chairman


- M. B. Wellborn

- L. C. Adelson

- Joseph A. Mc Cord

- Edward T. Brown

- Ward Albertson


Federal Reserve Bank of Atlanta (Dist. 6)

DIRECTORS

Class A

KITTLES, P. R. (Sylvania, Ga.) OTTLEY, John K. (Atlanta, Ga.) NEWTON, Oscar A. (Jackson, Miss.)


1920 1921 1922

Class B

SIMON, Leon C. (New Orleans La.) McCRAIR, J.A. (Decatur, Ga.) HARTFORD, W. H. (Nashville, Tenn.)

1920 (elected) 1921 1922 (re-elected)

Class C

McCORD, Jos. A. (Atlanta, Ga.) Chairman and FR Agent BROWN, Edw. T. (Atlanta, Ga.) Deputy Chairman KITTIG, W. H. (Birmingham, Ala.)

1920 (appointed) 1921 1922(re-appointed)

= -~~-.... . . 'II

7


__ I_ __

Governor

Deputy Governor

Asst. to Governor


Deputy Chairman

Assistant to Federal Reserve Agent

- J. B, Me Dougal

- C, R. Mc Kay

- B. G. Mc Cloud

- William A. Heath

- James Simpson

- W. F. Mc Lallen

Federal Reserve Bank of Chicago (Dist. 7)

OFFICERS

__ _ _ ~_I__~_______


Federal Reserve Bank of Chicago (Dist. 7)

DIRECTORS


JOHNSON, E. L. (Waterloo, Iowa) REYNOLDS, Geo. M. (Chicago, Ill.) McNIDER, Charles H. (Mason City, Iowa)

ERSKINE, Albert R. (South Bend, Ind.) VOGEL, A. H. (Milwaukee, Wis.) BLODGETT, John W. (Grand Rapids, Mich.)

1920 1921 1922 (re-elected)

Class C

SIMPSON, James (Chicago,Ill.) Deputy Chairman HEATH, Wm. A. (Evanston, ll.) Chairman and FR Agent

*MEREDITH, E. T. (Des Moines, Iowa) *BALL, Frank C. ( Muncie, Ind.)

1920 1921 1922 (re-q a 1922 (succeee Mere

dith in May)

Class B

1920 1921 1922 (elected)

_~C


1920

OFFICERS

Governor

Deputy Governor


Deputy Chairman


- David C. Biggs

- 0. M. Atteberry

- William McC. Martin

- John W. Boehne

-

Federal Reserve Bank of St. Louis (Dist. 8)


Federal Reserve Bank of St. Louis (Dist.8)

DIRECTORS


HILL, Walker (St. Louis, Mo.) UTTERBACK, J.C. (Paducah, Ky.) ZIEGLER, Sam A. (Albion, Ill.)

Class B

PERCY, Le Roy (Greenville, Miss.) WELLS, Rolla (St. Louis, Mo.) PLUNKETT, W. B. (Little Rock, Ark.)

1920 1921 1922

1920 1921 1922

(re-elected)

(elected) (re-elected)

Class C

BOEHNE, John W. (Evansville, Ind.) Deputy Chairman McC. MARTIN, William (St. Louis, Mo.)Chairman and FR Agent MOONEY, C. P. J. (Memphis, Tenn.)

1920 1921 1922 (re-appointed)

_ I ___ ___ _____ __ I__ I _ _ _ _ _1__1 __ ~* _ __I __ _I _ _~_


Federal Reserve Bank of Minneapolis (Dist. 9)

OFFICERS

Governor

Deputy Governors


Deputy Chairman


- R A. Young

-(S.. Geery ? XAt-Of/'i S. S. Cook

- John H. Rich

- William H. Lightner

- Curtis L. Mosher

'~'ilC~ ~;f a---- ~- r l----~- ~l"- - ~i----- ~-CC~C~- -C 4~CC I _ _ __ I I I C


S1920

Class A

Federal Reserve Bank of Minneapolis (Dist. 9)

DIRECTORS

Temn Expires Dec. 31

HANNA, L. B. (Fargo, N.Dakota) McDOWELL, W. C. (Marion, N.Dak.) WOLD, Theodore (Minneapolis, Minn.)

1920 1921 1922

Class B

HOLTER, N. B. (Helena, Mont.) HIXON, F. P. (La Crosse, Wis.) BIGELOW, F. R. (St. Paul, Minn.)

1920 1921 1922 (re-elected)

Class C

RICH, John H. (Minneapolis, Minn.) Chairman and FR Agent LIGHTNER, W. H. (St. Paul, Minn.) Deputy Chairman BENEDICT, C. H. (Lake Linden, Mich.)

1920 1921 1922 (re-appointed)

(elected)

~~ ____ _ __ I _ 1


1920

OFFICERS

Governor

Deputy Governor



Deputy Chairman

- J. Z. Miller, Jr.

- C A. Worthington

- Asa E. Ramsay

- C. K. Boardman

- F. W. Fleming

Federal Reserve Bank of Kansas City (Dist. 10)

- -- ~


Federal Reserve Bank of Kansas City- (Dist. 10)

DIRECTORS

Class A

BURNHAM, C. E. (Norfolk, Nebr.) MITCHELL, J. C. (Denver, Colo.) BAILEY, W. J. (Atchison, Kans.)

Class B

GIBSON, Harry W. (Muskogee Okla.) BYRNE, T. C. (Omaha, Nebr.3 McCLURE, M. L. (Kansas City, Mo.)


1920 1921 1922 (re-elected)

1920 1921 1922 (re-elected)

Class C

RAMSAY, Asa E. (Kansas City, Mo.) Chairman and FR Agent MALONE, R. H. (Denver, Colo.) FLEMING, F. W. (Kansas City, Mo.) Deputy Chairman

1920 1921 1922 (re-appointed)


1920

OFFICERS

Governor

Deputy Governor


Deputy Chairman


R. L. Van Zandt

- Lynn P. Talley

W. F. Ramsey

- W. B. Newsome

- Charles C. Hall

Federal Reserve Bank of Dallas (Dist. 11)


m 'TT- w rw 'y" iwf ifs w **_rsv-*:

DIRECTORS


SCOTT, John T. (Houston, Tex.) SMITH, E. K. (Shreveport, La.) McKINNEY, B. A. (Durant, Okla.)

1921 1920 1922 (re-elected)

Class B

CULBERTSON, J. J. (Paris, Tex.) KELL, Frank (Wichita Falls, Tex.) SANSOM, Marion (Fort Worth, Tex.)

1920 1921 1922 (re-elected)

Class C

RAMSEY, W. F. (Dallas Tex.)Chairman and FR Agent NEWSOME, W. B. (Dallas, Tex.) Deputy Chairman WOOTEN, H. 0. (Abilene, Tex.)

1920 1921 1922 (re-appointed)

Federal Reserve Bank of Dallas (Dist.

- Il I I i . -.-- rrarr I I II

11)


Federal Reserve Bank of San Francisco (Dist. 12)

OFFICERS

Governor

Deputy Governor

Asst. Deputy Governors


Deputy Chainnan

- John U. Calkins

- William A. Day

- Ira Clerk C, H. Stewart

- John Perrin

- Walton N. Moore


Federal Reserve Bank of Sa

DIRECTORS


1920 1921 1922

Class A

FISHBURN, J. E. (Los Angeles', Cal.) BUCHAN, M.A. (Palo Alto, Calif.) McINTOSH, C. K. (San Francisco, Calif.)

DOHRMANN, A. B. C. (San Francisco, Cal.) McGREGOR, J. A. (San Francisco, Cal.) COX, E. H. (San Francisco, Calif.)

1920 1921 1922 (re-elected)

Class C

PERRIN, John (San Francisco, Calif.) Chairman and FR Agent MOORE, Walton N. (San Francisco, Calif.) Deputy Chairman ELLIOTT, Edward (Berkeley, Calif.)

1920 1921 1922 (re-appointed)

Class B

~~~~~-- -- ;-:~ --- ~-- - I,: ----.-- ----- ---- --- --- I g~rr.

n Francisco (Dist. 12)


1920 HEARINGS

Feb. 10 TT.S. Congress. House. Committee on banking and HG currency. 2535 Abolition of the subtreasuries: hearing ... .A3

on F.R. 12209, a bill toabolish the subtreasuries 1920 and to transfer their duties to the Federal reserve banks, the Treasury at Washington, the Mints and Assay offices, and for other ourposes, February 10, 1920. Wash., Govt.ptg.off.,1920.

47 p.

F.R.Bd.L. a

___

.- mm-mmmw-w


1920 March HEARINGS

Federal Reserve Board - Rates of Interest on Collateral call loans. Letter transmitting in response to a Senate resolution of March 8, 1920, a communication concerning the rates of interest on collateral

call loans. (66th Cong. 2d Sess. Senate Doc. No. 262) 55 p.


1920 HEARINGS

may 4 U.S. Congress. vouse. Committee on banking HG and currency. 2562 Par collection of checks. Hearing before the .C6A2

committee ... on H. R. 12379, a bill amending (1920) section 13 of the ... Federal reserve act ... Tuesday, May 4, 1920. Wash., Govt.pt'. off., 1920.

118 p.

F.R.Bd.L.

a

.......... I


1920 HEARINGS

May 4 U.S. Congress. Fouse. Committee on rules. HG

Appointment of committee for investigation 2562 of administration of Federal reserve act: hear- .06A21

ings before the committee on H. R. Res. 476.

Wash., Govt.pt . off.,1920. (1920, 89 P.

sarding,W.P.G. (Gov.) May 4 pp.42-57 Testimony:

F.R.Bd.L. a


1920 HEARINGS

Dec. 2-8 U.S.Congress. Joint committees on agriculture HJ and forestry. 258 Reviving the activities of the War finance .A2

corporation: ENARINGS ... 66th cong.,3d sess. on S.J.Res.212, a resolution directing the War (1920) finance corporation and the Federal reserve board to take certain action for the relief of the present depression in the agricultural sections of the country. Dec. 2-,, 1920. Wash., Govt.ptg.off., 1920.

275 p. Testimony: Harding,W.P.G.(Gov.) Dec.3 pp.51-98

Houston,D.F.(Sec.Treas.) Dec. pp.35-51 F.R.Bd.L. Dec.16 Pt.3, pp.16- 4

Meorer,Eugene,Jr. Dec.2,3,6; po.4,13-22, a

PP.98-102; pp.121-131.


1420 April 13 Phelan Act LEGISLATION

[PUBLC-No. 170--66T CONGRESS.] [H. R. 12711.]

An Act To amend the Act approved December 23, 1913, kown M the Federal Reserve Act.

Be it enacted by the Senate and House of Representatives of the United t4tes ofAmerica in Congress assembled, That section 14 of the Federal

Reserve Act as amended by the Acts approved September 7, 1916 and June 21, 1917, be further amended by striking out the semicolon after the word "business" at the end of subparagraph (d) and insert in lieu thereof the following: "and which subject to the approval, rdview, and determination of the Federal Reserve Board, may be graduated or progressed on the basis of the amount of the'advances and discount accommodations extended by the Federal reserve bank to the borrowing bank."

Approved, April 13, 1920.


1920 May 26 LEGISLATION

II. R. 13138.]

An Act To amend section 8 of an Act entitled "An-Actto Buppa exjitig laws against unlawful rea mono lies, and for other Iurposies

roved Oc to beQ&0,4J14,.,B ,l a

Be it enacted by the S enatm Tke United States of America in Congress assembled, That section 8 of an Act entitled "An Act to supplement existing laws against unlawful restraints npolies and for other purposes," approved October 15, 1 e 'by the Act of May 15, 1916, be further anide serting in t e proviso at the end of the second clause of mid see on after the word "prohibit" the words "any private bakkwa or," so that the proviso as amended shall read:

"And provided further, That nothing in this Act shall prohibit any private banker or any officer, director, or employee of any member bank or class A director of a Federal reserve bank, who shall first procure the consent of the Federal Reserve Board, which board is hereby authorized, at its discretion, to grant, withhold, or revoke such consent, from being all officer, director, or employee of not more than two other banks, banking associations, or trust companies, whether organized under the laws of the United States or any State, if such other bank, banking association, or trust company is not in gubstantial cobpetition with such banker or membet lb

"The consent of the Federal Reserve Board mayi procured before the person applying therefor has bi elected as a class A diretr of a Federal reserve bank or as a .rector of any member

Approved, May 26, 1920.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1920 May 29 Performance of subtreasury functions by Reserve Banks. LEGISLATION

The laws authorizing the establishment or maintenance of offices of assistant treasurers or of subtreasuries of the United States were repealed

and the Secretary of the Treasury was authorized to transfer their duties and functions to the Treasurer of the United States or the United States

mints, or to utilize the Federal Reserve banks for this purpose. With re

spect to deposits of certain Treasury trust funds or speciel funds, the Re

serve banks were required to segregate such deposits from their assets and

to hold them in joint custody with the Federal Reserve agent. The Secretary

was authorized to assign rooms, vaults, etc. in the buildings used by the

subtreasuries to any Federal Reserve bank acting as fiscal agent of the

United States. (41 Stat. 654, 655.)

Source: Supplement to statement on Evolution of Banking Legislation by

Walter Wyatt, October 26, 1939. Exhibit G


1920 (See 1919

Nov.1919 - Mar. 1921)

FEDERAL RESERVE SYSTEM POLICY ACTION


1920 LITIGATION

11.603. Connectictt.-A probate court in Connecticut held that it had no powt to appoint a nil bank as guardian of an estat. Upon appeal to the Suprea.i cut, it was held that State may not withhold 'itsaatio cated within its bo4'rs the right to exercise fiduciary po W inpeting State corporations are permitted to excise, e 'ihether the attempted discrimination by the State ta of-d express statutory prohibition or is to be implied A ert;ol nce of permissive legislation; and that therefore col"~'t perly be appointed as guardian. Hamilton v. .onn. 648, 110 Atl. 54 (1920). 1920 BULLETIN 610. v i i


LITIGATION

t1.607.-4state statute prohjbied t h use of the rds "teet company" by any person or corporatln as a pa ate title unless psch person or corporation i uthorized by3 e of the State to

Sbusiness as a trust company. A national bank was organized in the tatewith the nime of "Fideli ational Bank and Trust Company

o&Kansas City, Misso i," and lewas approved by the Comptroller of the Currency. The te b ma s ione, however, took the position that the nationa snk estioz~ sming such name, acted in violation of State aw and accordi to approv *he national bank as a depoitory of rgerv nks and tryst companies. Thereupon, the nq , nk b.hoenjoin the action of the State bank commissper. I Id ta nce the right of Congress to confer trust powers I ba been upheld by the Supreme Cou f the mnid 1 1.500), any act on ,tbe part of a State, ir~ir or restrict the discharge of it# functions as Snational k"i' incidental powers enumerated, is void because

hI enflict' Witth th p&Ahlibunt laws of the Unite 0-s. The right of <Bgitk b'ise the wocs "trust empany" it of its name was

Ste sustained. Fi . t1 Co. v. Enright, 264 Fed. :6 4D. C. Mo., 4~ 1920 BULLETIN 497.


LITIGATION

11.615. Wisconsin.-Applica a mtb Sun court for th Jasl 'nigtra. . es

Wdrmind thMi O as ng in a fiduciary .4 il y

c o er r s& under t :lawedh at State. app to,. 'ate, it was,b1d that the provisions of section 11(k) .Federal Reserve Act, authorizing national banks to act in certain. 'ehary capacities where similar State organizatiqalqp authorized to. act in such capacities, must prevail over the conflieUtia rovisions of State law; and accordingly the decision of the county couit was reversed. In re Stanchfield's Estate, 171 Wis. 553, 178 N. W. 310 (192A. 1UMVLrLETN 700.1


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