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GRAIN MERCHANTS OF IND. v. UNION BANK & S. CO., BELLEVUE, OHIO

No. 17120.

408 F.2d 209 (1969)

GRAIN MERCHANTS OF INDIANA, INC., et al., Bankrupts, Mark L. France, Trustee, Appellants, v. UNION BANK AND SAVINGS COMPANY, BELLEVUE, OHIO, Appellee.

United States Court of Appeals Seventh Circuit.

March 13, 1969.

Attorney(s) appearing for the Case

George E. Fruechtenicht, Rothberg, Gallmeyer, Fruechtenicht & Logan, Fort Wayne, Ind., George M. Treister, Los Angeles, Cal., for appellants.

A. Bruce Schimberg, and H. Bruce Bernstein, Chicago, Ill., Eli S. Silberfeld, New York City, amicus curiae.

R. David Boyer, Paul W. Philips, Helmke, Philips & Beams, Fort Wayne, Ind., for Respondent-Appellee, Union Bank & Sav. Co., Bellevue, Ohio.

Loren M. Bobbitt, Rubin G. Cohn, Harold C. Havighurst, Richard G. Hershey, Albert E. Jenner, Jr., and Soia Mentschikoff, Illinois Com'rs on Uniform State Laws, Chicago, Ill., Amicus Curiae.

Before CASTLE, Chief Judge, and FAIRCHILD and CUMMINGS, Circuit Judges.

CUMMINGS, Circuit Judge.

In September 1965, Grain Merchants of Indiana, Inc. commenced its business of buying and selling grain and feed ingredients. On the 17th of that month, Grain Merchants entered into a security agreement with Union Bank and Savings Company of Bellevue, Ohio. Pursuant to Section 9-302 of the Uniform Commercial Code (5 Burns Ind.Stats.Ann., Title 19, § 19-9-302),1 appropriate financing statements were filed in...

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