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IN RE QUAKER CITY SHEET METAL CO.

No. 7893.

129 F.2d 894 (1942)

In re QUAKER CITY SHEET METAL CO. Appeal of KLAUDER.

Circuit Court of Appeals, Third Circuit.

Decided August 12, 1942.

Attorney(s) appearing for the Case

Bertram Bennett, of Philadelphia, Pa. (Jenkins, Bennett & Libby, of Philadelphia, Pa., on the brief), for appellant.

William E. Mikell, Jr., of Philadelphia, Pa. (Saul, Ewing, Remick & Harrison, of Philadelphia, Pa., on the brief), for appellee Dearden.

Lewis H. VanDusen, Jr., of Philadelphia, Pa. (James McMullan, and Drinker, Biddle, & Reath, all of Philadelphia, Pa., on the brief), for appellee, Corn Exchange Nat. Bank & Trust Co.

Before MARIS, JONES, and GOODRICH, Circuit Judges.

MARIS, Circuit Judge.

At the beginning of 1940, Quaker City Sheet Metal Company was in financial difficulties and unable to complete its contracts and meet its payroll for lack of working capital. Between January 19, 1940 and April 5, 1940 the Corn Exchange National Bank and Trust Company made several loans to the company. On April 12, 1940 Edward C. Dearden, Sr. made a loan to the company. Concurrently with each loan and...

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