In re Freaman

CONNOR, District Judge.

This is a petition to review the order of the referee in bankruptcy disallowing as secured and allowing only as unsecured the claim of the petitioner, the M-A-C Plan Acceptance Corporation.

The referee found that the M-A-C Plan Acceptance Corporation on December 24, 1947, lent a sum of money, now agreed to be in the amount of $699.92, which is the subject of the proof of claim, to the debtor on a note supported by a mortgage, duly recorded, on personal property which was described as including “all merchandise on ■hand at the Central Furniture Company, 613 Elm Street,…