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DREWEN v. UNION DISCOUNT CO.

No. 333.

32 F.2d 691 (1929)

DREWEN et al. v. UNION DISCOUNT CO., Inc. Ex parte PARSONS, CLOSSON & McILVAINE.

Circuit Court of Appeals, Second Circuit.

May 6, 1929.

Attorney(s) appearing for the Case

Ellwood Thomas, of New York City, for appellants.

Francis Dean, of New York City, for complainants appellees.

Knowlton Durham, of New York City, for certain claimants appellees.

Before L. HAND, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

AUGUSTUS N. HAND, Circuit Judge.

The suit in which the order appealed from arises was one in equity for the appointment of a receiver of the defendant, Union Discount Company, Inc., and was commenced on September 22, 1927.

About January 2, 1926, the defendant corporation, when in need of funds to meet its current obligations and to continue its business, executed a trust instrument and deposited with the trustee named therein certain securities as collateral...

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