In re Broderick

This is an application by the New York State Superintendent of Banks for an order approving the purchase by him as such Superintendent of certain stock for the benefit of the creditors of the State Bank of Canastota, N. Y.

On the 19th day of December, 1930, pursuant to section 57 of the Banking Law, the Superintendent of Banks of the State of New York took over the affairs of the State Bank of Canastota, N. Y., for the purpose of liquidation. Among the assets were certain collateral notes given by one Claude B. Ellis, totalling $18,990, secured by a collateral assignment of 320 shares of…