TEXAS HOTEL SECURITIES CORP. v. WACO DEVELOPMENT CO.

No. 8192.

87 F.2d 395 (1936)

TEXAS HOTEL SECURITIES CORPORATION v. WACO DEVELOPMENT CO.

Circuit Court of Appeals, Fifth Circuit.

Rehearing Denied January 30, 1937.


Attorney(s) appearing for the Case

Robert Allen Ritchie and Nathaniel Jacks, both of Dallas, Tex., and E. Y. Boynton and Wm. E. Terrell, both of Waco, Tex., for appellants.

J. D. Williamson, of Waco, Tex., and Claude P. Berry, of St. Louis, Mo., for appellee.

Before SIBLEY and HUTCHESON, Circuit Judges, and STRUM, District Judge.


SIBLEY, Circuit Judge.

Waco Development Company on May 17, 1935, filed a petition for reorganization under Bankruptcy Act, § 77B (11 U. S.C.A. § 207), on the ground that it was unable to meet its debts as they matured. Besides a little cash it owned only the Roosevelt Hotel in Waco, Tex., and its equipment, put at a value depreciated to $602,361 but now fixed at $725,000; and its indebtedness besides taxes was an issue of negotiable gold notes or bonds secured...

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