GUARANTY TRUST CO. OF NEW YORK v. FENTRESS

Nos. 4793-4798.

61 F.2d 329 (1932)

GUARANTY TRUST CO. OF NEW YORK v. FENTRESS et al., and five other cases.

Circuit Court of Appeals, Seventh Circuit.

October 17, 1932.


Attorney(s) appearing for the Case

Horace Kent Tenney and S. Ashley Guthrie, both of Chicago, Ill., for appellants.

Edwin H. Cassels and William S. Warfield III, both of Chicago, Ill., Lawrence T. Allen and Everett L. Dalbey, both of Danville, Ill., and Robert B. Johnstone, of Chicago, Ill., for receivers Calvin Fentress and George A. Cooke.

Sidney S. Gorham, of Chicago, Ill., for Howard Cherry.

William L. Latimer, of Chicago, Ill., for Insull Utility Investments.

Edwin M. Ashcraft, Jr., Carroll J. Lord, and Russell F. Locke, all of Chicago, Ill., for receivers Raymond F. McNally and Patrick J. Lucey.

John E. MacLeish and Walter S. Underwood, both of Chicago, Ill., for Frank B. Schoeneman.

Before EVANS and SPARKS, Circuit Judges, and FITZHENRY, District Judge.


EVANS, Circuit Judge (after stating the facts as above).

Each of the two original suits was brought for the avowed purpose of obtaining the appointment of receivers, who in turn were to protect the property from loss through sale under the present unfavorable conditions, which are alleged to be abnormal. The Insull Utility Investments, Inc., it appears, was a corporation, commonly described as a holding company, organized for the purpose of speculating in stocks,...

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