MANTON, Circuit Judge.
The Massel Realty Corporation, a New York corporation, was petitioned in bankruptcy on November 19, 1925. On May 27, 1925, it owned two parcels of land, and on that day borrowed from the appellee Saltzman $5,500, agreeing to pay it back in installments of $500 a month. Notes were delivered as evidence of the debt, and there was given as collateral security for its payment the capital stock of the corporation, consisting of 250 shares, which...
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