Peoples Bank v. Federal Reserve Bank

The question here is whether this court has jurisdiction.

The Peoples Bank brought suit against the Federal Reserve Bank of San Francisco, Board of Governors of the Federal Reserve System, and Henry F. Grady, Federal Reserve Agent, to annul and enjoin the enforcement of a condition of membership in the Federal Reserve System required by the Board of Governors of the Federal Reserve System. In an opinion dated November 17, 1944, the'lower court held that it did not have jurisdiction as the indispensable party, the Board of Governors of the Federal Reserve System, was not properly before the court, and there was no action against the other defendants. D.C., 58 F. Supp. 25 . An order was filed the same day, granting motions to dismiss and denying motions for summary judgment. The judgment itself was filed January 8, 1945, dismissing the cause at plaintiff’s cost. Both the Peoples Bank and the Federal Reserve Bank appealed from the Order of November 17, 1944, after judgment was entered.

The appellee, Henry F. Grady, and the cross-appellant, the Federal Reserve Bank, have filed motions to dismiss the appeal of the Peoples Bank. This court is of the opinion that both appeals should…