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FITKIN v. CENTURY OIL CO.

No. 87.

16 F.2d 22 (1926)

FITKIN et al. v. CENTURY OIL CO. (MARYLAND) et al. GUARANTY TRUST CO. OF NEW YORK v. LA PORTE OIL & REFINING CORPORATION (MARYLAND).

Circuit Court of Appeals, Second Circuit.

December 6, 1926.

Attorney(s) appearing for the Case

Gilman & Unger, of New York City, for appellant.

Davis, Polk, Wardwell, Gardiner & Reed, of New York City (William C. Cannon, of New York City, of counsel), for appellees.

Before HOUGH, MANTON, and HAND, Circuit Judges.

MANTON, Circuit Judge.

By order of the District Court, a receiver was appointed for the La Porte Oil & Refining Corporation in a proceeding in equity to conserve its assets. That corporation had a mortgage upon its property, and the Guaranty Trust Company was named as trustee in the mortgage. The corporation authorized and issued 5-year first lien and collateral trust 7 per cent. convertible gold notes giving the mortgage on its property as security therefor....

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