General Baking Co. v. Gordon

KIRKPATRICK, District Judge.

This cause was heard upon bill and answer. Consequently, the answer is to be taken as true in all particulars whether responsive to the bill or not (Leeds v. Marine Insurance Co., 2 Wheat. [15 U. S.] 380, 4 L. Ed. 266; Terral v. Burke Construction Co., 257 U. S. 529, 42 S. Ct. 188, 66 L. Ed. 352, 21 A. L. R. 186), and only such averments of the bill as are not controverted are to be taken as admitted.

Franklin Trust Company is a banking institution in the city of Philadelphia which at the close of the business day of October 5, 1931, was taken over for liquidation…