McCloskey v. Downingtown Woolen Mills, Inc.

THOMPSON, District Judge.

A creditors’ bill was filed, averring that the«Downing-town Woolen Mills, Inc., owned assets largely in excess of its liabilities, that it was presently unable to pay its creditors, that it was threatened with numerous suits, that its embarrassed condition was due to lack of sufficient working capital, and that, unless a receiver was appointed, its assets would be sacrificed and its business, which might be profitably carried on to the advantage of all creditors, would be destroyed. The answer of the corporation admitted the averments of the bill. Thereupon, on April…