VAN VALKENBURGH, Circuit Judge.
Appellant, trustee for M. Morgan Manufacturing Company, bankrupt, sued appellee, defendant below, to recover an alleged preferential payment. In this discussion the parties will be described as in the trial court.
September 29, 1930, the bankrupt executed to defendant, a banking corporation, its promissory note in the sum of $15,000, payable thirty days after date. This note was the last of a series of notes given in renewal...
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