IN RE WEST COUNTIES CONST. CO.

No. 10050.

182 F.2d 409 (1950)

In re WEST COUNTIES CONST. CO. McCARTHY v. WEST COUNTIES CONST. CO.

United States Court of Appeals Seventh Circuit.

June 5, 1950.


Attorney(s) appearing for the Case

John E. Toomey, John J. Moran, Chicago, Ill., for appellant.

Isaac E. Ferguson, Chicago, Ill., Benjamin F. Morrison, Chicago. Ill., for appellee.

Before MAJOR, Chief Judge, and DUFFY and LINDLEY, Circuit Judges.


DUFFY, Circuit Judge.

Debtor owned and operated a stone quarry near Elgin, Illinois, producing roadstone and agricultural limestone. In 1947 all of debtor's quarrying equipment with minor exceptions was mortgaged to St. Charles National Bank as security for a loan of $80,000. On April 26, 1948, to avert a threatened foreclosure of this mortgage the Circuit Court of Kane County, Illinois, appointed Herbert Cameron as receiver pendente lite. The proceedings resulting...

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