Bethlehem Steel Co. v. Zurich GEN. Acc. & Liab. Ins. Co., 307 U.S. 265 (1939)

Bethlehem Steel Co. v. Zurich General Accident & Liability Ins. Co.

No. 590

Argued February 9, 10, 1939
Reargued April 27, 1939
Decided May 22, 1939 *
307 U.S. 265

CERTIORARI TO THE SUPREME COURT OF NEW YORK

Syllabus

Bonds of American corporations, payable in money of the United States or in fixed amounts of foreign currencies, which originally were sold in this country to bankers, but are now held by foreign corporations which purchased them abroad after the effective date of the Joint Resolution of June 5, 1933, and elected to demand payment in foreign currencies, held subject to the Joint Resolution and payable dollar for dollar in United States legal tender. So decided upon the authority of the case last preceding.

279 N.Y. 495, 790; 18 N.E.2d 673; 19 N.E.2d 89, reversed.

Certiorari, 305 U.S. 594, to review judgments, entered on remittitur from the Court of Appeals of the New York, reversing judgments of the Supreme Court, Appellate Division. Both suits were brought to collect interest coupons from bonds of an American corporation payable alternatively in dollars or in fixed amounts of certain foreign currencies. In the first case, judgment was rendered by the New York Supreme Court, Special Term, for the exchange value of Swiss francs, and was reversed by the Appellate Division. In the second case, judgment at Special Term held against the right to recover exchange value of Dutch guilders, and was affirmed by the Appellate Division. For opinion at Special Term in the first case, see 254 App.Div. 839; 164 Misc. 498; 299 N.Y.S. 862.