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INTERNATIONAL SHOE CO. v. SMITH-COLE

No. 706.

62 F.2d 972 (1933)

INTERNATIONAL SHOE CO. v. SMITH-COLE, Inc., et al.

Circuit Court of Appeals, Tenth Circuit.

January 20, 1933.

Attorney(s) appearing for the Case

Henry L. Fist, of Tulsa, Okl. (Chas. L. Yancey and G. C. Spillers, both of Tulsa, Okl., Richard O. Rumer, of St. Louis, Mo., and E. M. Calkin, of Tulsa, Okl., on the brief), for appellant.

A. M. Kerr, of Ada, Okl. (L. H. Harrell and Robert S. Kerr, both of Ada, Okl., on the brief), for appellees.

Before LEWIS and McDERMOTT, Circuit Judges, and POLLOCK, District Judge.

McDERMOTT, Circuit Judge.

In December, 1931, Smith-Cole, Inc., was engaged in the mercantile business in the City of Ada, Oklahoma. It was indebted on open account or unsecured notes, to 30 creditors, totaling approximately $16,000. In an action in the state court, brought by one of the creditors, the court found that by reason of the business depression, the company had been unable to provide for payment of its obligations as they matured, and that there was imminent...

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