...(38 Statute, 251), gave the Federal Reserve Botfrd power, inter alia, "to grant by special permit of National banks applying therefor, when not in contravention...administrator or registrar of stocks and bonds under each rules and regulations as the said Board may prescribe." It was thus left to the courts to ascertain...

...1918, provides in part: Sec. n. The Federal Reserve Board shall l>e authorized and empowered: (k) To grant by special permit to National banks applying...right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics,...

...granted under paragraph "K" of Section II of the Act, which gives the Federal Reserve Board the power "To grant by special permit to National banks applying...local law. the right to act as trustee, executor, or registrar of stocks and bonds, under such rules and regulations as the said Board may prescribe."...

...special permit to National banks applying therefor, when not in contravention of State or local lato, the right to act as trustee, executor, administrator,...and regulations as the said board may prescribe." This section was subsequently amended in 1916 and again in 1918, concerning which said amendment we...

...section it is expressly provided that the Federal Reserve Board, not Congress, shall have power "to grant, by special permit, to National banks applying...contravention of State or local law, the right to act," etc. There can be but one meaning •attributed to this language. No powers are to be conferred upon...

...section it is expressly provided that the Federal Reserve Board, not Congress, shall have power "to grant, by special permit, to National banks applying...in contravention of State or local law, the right lo act," etc. There can be but one meaning attributed to this language. No powers are to be conferred...

...the local laws. It reads as follows: The Federal Reserve Board shall have power Sec. n (k) — "To grant, by special permit to National banks applying...therefor, when not in contravention of State or local law, 202 TRUST COMPANIES the right to act as trustee, executor, administrator or registrar of stocks and...

...Xational banks applying therefor, when not in contravention of State or local late, the right to act ai trustee, executor, administrator, or registrar of stocks and bonds under such rules and regulations at the laid Board may prescribe." The provision just quoted constituted the entire section and its...

...national banks with functions both of a public and private character, and that it may, therefore, permit national banks applying therefor, when not in contravention of state or local laws, to act as trustees. Domestic trust companies formed under state laws and complying with prescribed...

...which relators question thf right of the respondent to act as trustee, executor, administrator, and registrar of stocks and bonds under such rules and regulations as the Federal Reserve Board may prescribe, it being claimed that the exercise by respondent of said franchises...