Inland Waterways Corp. v. Young,
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309 U.S. 517 (1940)
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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.