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IN RE FRED STERN & CO.

No. 89.

54 F.2d 478 (1931)

In re FRED STERN & CO., Inc. FEDERAL INTERNATIONAL BANKING CO. v. CHILDS.

Circuit Court of Appeals, Second Circuit.

December 14, 1931.

Attorney(s) appearing for the Case

Zalkin & Cohen, of New York City (Nathan Coplan, of New York City, of counsel), for trustee.

Martin Conboy, of New York City (David Asch, of New York City, of counsel), for appellee.

Before MANTON, L. HAND, and SWAN, Circuit Judges.

MANTON, Circuit Judge.

Fred Stern & Co., Inc., a business corporation engaged in importing and selling rubber, was adjudicated a bankrupt on January 21, 1925. The appellee, a banking corporation, filed a claim for $234,664, which arises from advances of money made during the year 1924. This was pursuant to an agreement between the bankrupt and the appellee, made in the latter part of 1923, by which appellee established a revolving credit in favor of the bankrupt...

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