Felix Frankfurter

“ This action by the Board was taken after it had satisfied itself that Transamerica's holding did not affect the Bank's control. The Bank had vigorously insisted on its continued independence, in urging upon the Board the harmlessness of Transamerica's ownership of some of the Bank's stock, and the Board, upon independent investigation found such to be the fact. Accordingly, the Board concluded that 'the public interest' called for no action.
A declaratory judgment, like other forms of equitable relief, should be granted only as a matter of judicial discretion, exercised in the public interet . ”

“ It is always the duty of a court of equity to strike a proper balance between the needs of the plaintiff and the consequences of giving the desired relief. Especially where governmental action is involved, courts should not intervene unless the need for equitable relief is clear, not remote or speculative. ”

“ A determination of administrative authority may of course be made at the behest of one so immediately and truly injured by a regulation claimed to be invalid, that his need is sufficiently compelling to justify judicial intervention even before the completion of the administrative process. ”

“ Caution is appropriate against the subtle tendency to decide public issues free from the safeguards of critical scrutiny of the facts, through use of a declaratory summary judgment. Modern equity practice has tended away from a procedure based on affidavits and interrogatories, because of its proven insufficiencies. ”

“ The by-laws of a corporation may make provisions not in conflict with law or its articles for:↑ The bank asserted, in its affidavits, not that lack of confidence had deterred depositors, but that deposits had been so heavy that capital expansion was in order, but might be disadvantaged by fear of prospective investors to risk personal assessment if deposits were uninsured. ”

“ Again, not the least of the evils that led to the Norris-LaGuardia Act, 29 U.S.C.A. § 101 et seq., was the frequent practice of issuing labor injunctions upon the basis of affidavits rather than after oral proof presented in open court. ”