Inland Waterways Corp. v. Young - 309 U.S. 517 (1940)
U.S. Supreme Court
Inland Waterways Corp. v. Young, 309 U.S. 517 (1940)
Inland Waterways Corp. v. Young
Argued October 11, 1939
Decided March 25, 1940
309 U.S. 517
A national bank may pledge assets to secure deposits of government funds made by governmental agencies even though the deposits may not be "public money" within § 45 of the National Bank Act. P. 309 U. S. 523.
The power is to be implied in accordance with traditional government policy and is supported by administrative practice.
69 App.D.C. 268; 100 F.2d 678, reversed.
Certiorari, 306 U.S. 626, to review the affirmance of judgments recovered by the receiver of a national bank against certain public agencies and officials.