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LEBANON IRON CO. v. DONNELLY & CO.

No. 3257.

29 F.2d 411 (1928)

LEBANON IRON CO. et al. v. DONNELLY & CO., Inc.

District Court, E. D. Pennsylvania.

December 6, 1928.

Attorney(s) appearing for the Case

Francis McCarthy and Thomas A. Logue, both of Philadelphia, Pa., for receivers.

Jas. McMullan, of Philadelphia, Pa., for Corn Exchange Bank.

THOMPSON, District Judge.

Receivers were appointed for Donnelly & Co., with leave to continue, pending further order of the court, the active conduct of the business. The receivers were authorized by order of the court to borrow upon receivers' certificates $20,000 to be used in the conduct of the business. On May 6, 1925, they borrowed upon their certificate $10,000 from the Corn Exchange Bank of Philadelphia. The receivers opened a deposit account with the bank...

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