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IN RE SYRACUSE STUTZ CO.

No. 29.

55 F.2d 914 (1932)

In re SYRACUSE STUTZ CO., Inc. DEMPSTER et al. (BOWEN, PERRY & FOBES et al., Interveners) v. MORRIS et al.

Circuit Court of Appeals, Second Circuit.

February 8, 1932.

Attorney(s) appearing for the Case

Waters & Hodges, of Syracuse, N. Y., for petitioning creditors-appellants.

Henry R. Follett, of Syracuse, N. Y., for intervening creditors-appellants.

Hiscock, Williams & Cowie, of Syracuse, N. Y., for appellees.

Costello, Cooney & Fearon, of Syracuse, N. Y., for alleged bankrupt.

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

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

The alleged bankrupt is a New York corporation which was engaged in selling automobiles in the city of Syracuse. Its financial backer was Alexander Dempster. He was the president, one of the three directors, and the principal stockholder of the corporation. He was also a creditor in a substantial sum for money loaned. On September 2, 1930, pursuant to a resolution of its board of directors, the corporation committed...

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