Harlan F. Stone

“ It is in the public interest that federal courts of equity should exercise their discretionary power with proper regard for the rightful independence of state governments in carrying out their domestic policy. ”

“ The District Court will direct that all assets and property in the possession of the receivers be, with all convenient speed, surrendered to the secretary of banking, the receivers retaining only sufficient of the assets of the defendant association to pay their reasonable fees and any obligations lawfully incurred by them. Jurisdiction will be retained by the district court only for that purpose and for the purpose of promptly discharging the receivers and settling their accounts, after which the suit will be dismissed. ”

“ The statutes of the United States, as incorporated in the Judicial Code, c. 231, § 24 (1) , 36 Stat. 1087, 1091, 28 U.S.C. § 41 (1) , 28 USCA § 41 (1) , provide that District Courts shall have original jurisdiction 'of all suits of a civil nature, at common law or in equity, * * * where the matter in controversy exceeds, exclusive of interest and costs, the sum or value of $3,000, and * * * is between citizens of different States.' We do not doubt that the allegations in the present bill of complaint are sufficient to establish the jurisdiction of the District Court as a federal court ”