Document: 347 U.S. 403 74 S.Ct. 548 98 L.Ed. 803 Herbert BROWNELL, Jr., Atty. Gen. of the United States, as Successor to Alien Property Custodian, Petitioner,v.Eugene T. SINGER. The SUPERINTENDENT OF BANKS STATE NEW YORK, Liquidator Business and in State New York Yokohama Specie Bank, Ltd., Petitioner, v. Eugene Nos. 401 402. Supreme Court States Argued Submitted March 8, 1954. April 5, 1954 Rehearing Denied May 17, See 970, 774. Mr. James D. Hill, Washington, D.C., for petitioner No. 401. Albert R. Connelly, City, respondent. Messrs. Edward Feldman Daniel Gersen, PER CURIAM. 1 Reversed. Zittman McGrath, 341 471, 71 846, 95 1112. 2 chief Justice did not participate consideration or decision this case. 3 JACKSON, with whom FRANKFURTER DOUGLAS join, dissenting. 4 Court's one-word reverses concurring judgments three highly respected courts—the Appeals York, Appellate Division Court, First Department, Special Term, County. It cites a single case, implication being that cited authority settled question so fully plainly contrary result could have been reached by lower courts only failure read heed it. I think owes those legal profession something more than reference an inapplicable decision. facts case present novel questions should face on which it render reasoned 5 Bank established its agency, pursuant State's permission, under statute provided bank's assets be subject claims creditors arising out transactions agency preference other claims. On December 1941, when war was declared Japan, possession Treasury, supervising freezing controls over Japanese nationals. immediately surrendered Superintendent Banks liquidation state law. This respondent's claim thereafter entitled preferences law but payable after federal license therefor, position confirmed Court. Lyon Singer, 339 841, 70 903, 94 1323. 6 In 1942, President, statutory authority, created Office Custodian. As property process administration judicial supervision, Custodian authorized seize 'which is deliverable, to, claimed by, designated enemy country national thereof.' fund, earmarked payment American creditor, within description. No demanding turnover can found. 7 September asserted power supervision advised continue his business York. He requested advise him all he intended accept notify had liquidated sufficient pay paid accepted expenses order might take such action 'at time respect remaining your hands' deem necessary. Thereafter, various were allowed preferred who nationals, issued vesting orders seizing funds set aside their payment. Of course, cannot basis, claimant alien. 8 February 15, 1943, 915. By it, purported vest himself excess proceeds having accordance Banking Law McK.Consol.Laws, c. 2, § et seq. Since funds, law, bank, obviously proper vesting. But limitation no accident oversight. annual reports President Congress, repeatedly stated, substance, rights laws would respected, vested. 9 now sustained quite policy until 1950, five years cessation hostilities Japan eight task left Banks. 10 fund half-million dollars Attorney General successor demands specifically held we previously upheld supra. 11 All hands Supertendent demanded has payment, bank. courts, however, refused allow turn allocated satisfaction judgment favor respondent affirmed us, if licensed General. 12 1112, serve supporting transfer credit from debtor bank interest except stake holder. Here officer administering duty State. adverse rested assertion private way involving public interest. there clash between two interests. through Banks, took own protecting institutions do After lapse many years, apply different policy—that Federal Government. 13 Moreover, vested debts owed foreign evidenced instruments endorsed Reserve Bank. Those constituted precise sought litigant. remained claims, shows claim. His position, seeks never analogous Zittman. 14 Some effort made argument reconsider whether arose exchange transaction. Prior war, Standard Vacuum Oil Company delivering oil purchasers yen. questioned sales at time. entered into agreement sold yen receive manner remitting conventional function branch expected facilitate. transaction, including respondent, among statutes protect assets. Singer supra, approved holding. Unless every principle res judicata disregarded bound holding Law. 15 intimated purpose seizure defeat outside will full. mean distribution odds apparent large number full assets, just why stands equality them, deprived while others retain theirs hard understand. 16 rather insistent disclose reasoning behind judgments.1 reciprocate faced issues serious doubtful raised E.g., Minnesota National Tea Co., 309 551, 60 676, 84 920; Loftus People Illinois, 334 804, 68 1212, 92 1737; Chicago Willett 913, 734, 1349.

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