Federal Intermediate Credit Bank v. Mitchell, 277 U.S. 213 (1928)

Federal Intermediate Credit Bank

of Columbia, South Carolina v. Mitchell
No. 456

Argued March 13, 1928
Decided May 14, 1928
277 U.S. 213

CERTIORARI TO THE CIRCUIT COURT OF APPEALS

FOR THE FOURTH CIRCUIT

Syllabus

1. A suit to collect promissory notes exceeding the jurisdictional amount, brought by a Federal Intermediate Credit Bank chartered under the Act of March 4, 1923, is, because of the plaintiff’s federal incorporation, a suit arising under the laws of the United States and within the jurisdiction of the district court under Jud.Code § 24(1). P. 214.

2. Such jurisdiction is not affected by § 12, Act of February 13, 1925, since ownership by the United States of all of the plaintiff’s capital stock brings the case within the proviso of that section. P. 217.

3. Section 201(c) of the Act of March 4, 1923, supra, in the provision that each such bank "for purposes of jurisdiction shall be deemed a citizen of the state where it is located," governs the places where suit may be brought against such banks, but is in nowise inconsistent with the general rule that district courts have jurisdiction of suits brought by or against corporations organized under an Act of Congress on the ground that they are controversies arising under federal law. Hermann v. Edwards, 238 U.S. 107, distinguished. Pp. 315-317.

4. In the absence of enactments plainly expressing that purpose, Congress will not be held to have intended to restrict that jurisdiction. P. 317.

21 F.2d 51 reversed.

Certiorari, 275 U.S. 516, to a judgment of the circuit court of appeals which affirmed a judgment of the district court dismissing an action by the Bank for want of jurisdiction.