WOOLLEY, Circuit Judge.
Commercial Realty Company, a New Jersey corporation, all of whose stock (though not paid for) was held in equal amounts by five persons, of whom the petitioner was one, desired to buy, and eventually acquired, a property in Camden, New Jersey, known as the Elks Building, which it proposed to sell under negotiations then pending. Against this property there was already a first mortgage for $150,000. To effect the purchase, the corporation placed...
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