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IN RE WESTERN TOOL & MFG. CO.

No. 9665.

142 F.2d 404 (1944)

In re WESTERN TOOL & MFG. CO. GURNEY v. MASSENA et al.

Circuit Court of Appeals, Sixth Circuit.

As Amended on Denial of Rehearing June 1, 1944.

Attorney(s) appearing for the Case

Charles W. Stiefel, Jr., of Chicago, Ill. (George R. Murray, of Dayton, Ohio, on the brief), for appellant.

W. W. Keifer, of Springfield, Ohio (Keifer & Keifer, of Springfield, Ohio, on the brief), for appellee.

Before HICKS, ALLEN and HAMILTON, Circuit Judges.

HAMILTON, Circuit Judge.

The Western Tool & Manufacturing Company is an Ohio corporation created in 1904 which since that time has been engaged in the business of manufacturing tools in its own equipped factory at Springfield, Ohio. The corporation has outstanding 1120½ shares of common capital stock, par value $100 per share.

In November, 1921, the corporation borrowed $90,000, and to secure the payment thereof, executed a mortgage trust deed which...

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