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  5. 33 A.D.2d 839 (1969)
 

MATTER OF GREAT CENT. DISTRIB. CO., INC.

33 A.D.2d 839 (1969)

In the Matter of Great Central Distributing Co., Inc., Appellant. Martin P. Catherwood, as Industrial Commissioner, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

December 8, 1969

REYNOLDS, J.

When its principal share holder decided to retire, Motorola was notified and arranged for appellant to take over the franchise. On Friday, April 2, 1965 Spinney surrendered its franchise and on Monday, April 5, 1965 appellant began operations under it. As part of this transaction approximately $100,000 in inventory of Motorola products was transferred from Spinney to Motorola to appellant and some furniture, parts and a station wagon directly...

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