IN RE RAILROAD SUPPLY CO.

No. 5266.

78 F.2d 530 (1935)

In re RAILROAD SUPPLY CO. J. HENRY SCHRODER BANKING CORPORATION et al. v. L. S. BRACH MFG. CORPORATION.

Circuit Court of Appeals, Seventh Circuit.

June 20, 1935.


Attorney(s) appearing for the Case

James F. Oates, Jr., John Dern, George Ragland, Jr., and Cutting, Moore & Sidley, all of Chicago, Ill., for appellants.

Theodore E. Rein, Simon H. Alster, Friedman, Schimberg & Alster, and Sabath, Perlman, Goodman & Rein, all of Chicago, Ill., for appellee.

Before EVANS, SPARKS and FITZ HENRY, Circuit Judges.


EVANS, Circuit Judge.

The controversy arose out of an agreement which the parties executed in the hopes that bankrupt might, if additional time were given it, improve its financial position and ultimately meet its debts.

The Railroad Supply Company, the bankrupt, owed Brach $75,000 and interest of $4,562.50 on two $37,500 promissory notes due April 10, 1931. On April 9, 1931, Brach and Schroder, who was also a creditor of bankrupt to the extent of $162,162...

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