Baker

(after stating the facts as above). [1] 1. The validity of the contract of January 12, 1897, between Baker, as receiver of the bank, and the state of Washington, for the purchase of the tide lands, is attacked bv the defendants on the ground that the contract was ultra vires; its execution being an exercise of power not conferred upon national banks, or receivers thereof, by the statutes of the United States. Section 5137 of the Revised Statutes of the United States (Comp. St. 1913, § 9674) provides as follows :

Chapter 28 of the Act of March 29, 1886 ( 24 Stat. 8 [Comp. St. 1913, .§§ 9828-9830]), provides as follows:

It is obvious that the contract for the purchase of the tide lands could not have been executed under section 5137 of the Revised Statutes. It does not fall within any of the purposes enumerated in that section for which national banks may purchase, hold, and convey real estate. Nor can the provisions of the act of March 29, 1886, be *326 construed to give validity to the contract. The bank had no equity in the property “by reason of any bond, mortgage, assignment or other proper legal claim attaching thereto,” nor was the property “to be held under any execution,…