CITIES SERVICE CO. ET AL. v. McGRATH, ATTORNEY GENERAL, SUCCESSOR TO THE ALIEN PROPERTY CUSTODIAN (342 U.S. 330)
U.S. Supreme Court · decided January 28, 1952 · Supreme Court Database (Spaeth)
- Citation
- 342 U.S. 330 · 72 S. Ct. 334
- Decided
- January 28, 1952
- Term
- October Term 1951
- Vote
- 9–0
- Majority author
- Justice Clark
- Issue area
- Due Process
- Disposition
- Affirmed
- Outcome
- Petitioning party lost
- Ideological direction
- Conservative
Opinion excerpt
Mr. Justice Clark delivered the opinion of the Court. In this suit the Attorney General of the United States as successor to the Alien Property Custodian seeks payment by petitioners of two 5% gold debentures of the face value of $1,000 each and payable to bearer. Petitioner Cities Service Company is obligor on the debentures and petitioner Chase National Bank of New York is the indenture trustee, v The obligations represented by these debentures had previously been vested, under provisions of the Trading with the Enemy Act, upon a finding that the obligations were owned by a resident and national of Germany. Neither of the debentures is or ever has been in the possession of respondent. One of the debentures, although not maturing until 1969, was presented for redemption at Chase’s offices in New York City on January 5, 1950, subsequent to the date of the vesting order. A legend was then typed on the debenture reciting the issuance of the vesting order and the claims of respondent thereunder. This debenture is at present in the possession of a brokerage house in New York City. The other debenture matured in 1950 but has never been presented for payment. Its whereabouts are unknown but it was last reported to be in Berlin in the hands of the Russians. The District Court granted summary judgment for petitioners on the ground that the Attorney General, in issuing the vesting…
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