DUNN v. McCOY

No. 7286.

113 F.2d 587 (1940)

DUNN v. McCOY et al.

Circuit Court of Appeals, Third Circuit.

June 29, 1940.


Attorney(s) appearing for the Case

Charles H. Weidner, of Reading, Pa., for appellant.

George B. Balmer, of Reading, Pa., for appellee.

Before BIGGS, MARIS, and CLARK, Circuit Judges.


CLARK, Circuit Judge.

We seem to be still picking up the pieces. A small state chartered bank in the suburbs (Shillington) of Reading, Pennsylvania, begins to feel the pinch of 1929 in 1932. To secure its statute prescribed cash it sells some of its assets (inferentially at least not otherwise marketable) to a pool comprising the clearing house (seven) banks of Reading. Title was taken in the name of one Snyder, secretary of that Association. This proved only a stop...

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