OPINION
SKOPIL, District Judge:
Appellant, The National Cash Register Co. (NCR), claims a security interest in cash registers sold to the debtor, Thrift Shoe Co., Inc. (Thrift), under a sales contract and security agreement.
Before the entire purchase price of the cash registers had been paid, Thrift filed a petition for an arrangement under Chapter XI of the Bankruptcy Act. Upon application of the receiver, Curtis B. Danning, the referee found that...
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