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TRINITY PORTLAND CEMENT CO. v. BASS FOUNDRY & MACHINE CO.

No. 5047.

26 F.2d 348 (1928)

TRINITY PORTLAND CEMENT CO. v. BASS FOUNDRY & MACHINE CO. et al.

Circuit Court of Appeals, Sixth Circuit.

May 8, 1928.

Attorney(s) appearing for the Case

George D. Welles, of Toledo, Ohio, and Jerome C. Fisher, of Cleveland, Ohio (Tracy, Chapman & Welles, of Toledo, Ohio, and Thompson, Hine & Flory, of Cleveland, Ohio, on the brief), for appellant.

E. G. Davies, of Toledo, Ohio, as amicus curiæ.

B. H. Davis, of Cleveland, Ohio (Treadway & Marlatt, of Cleveland, Ohio, on the brief), for appellee Union Trust Co.

Alemon F. Hanson, of Toledo, Ohio, for appellee Merriman.

Leslie Reid, of Lima, Ohio, for appellees Lima Trust Co. and Metropolitan Bank.

Before DENISON, DONAHUE, and MOORMAN, Circuit Judges.

MOORMAN, Circuit Judge.

Upon a creditor's bill receivers were appointed for the East Iron & Machine Company by the District Court. Shortly thereafter receivers' certificates in the sum of $50,000 were issued, under orders of the court, to procure funds to maintain and operate the company's properties. Some sixteen months later plans for refinancing the company were formed by its directors and stockholders, pursuant to which, in March of 1922, they authorized the...

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