W. K. Henderson Iron Works & Supply Co. v. Meriwether Supply Co.

McGregor, j.

A receiver for the defendant company was appointed by the First district court, parish of Caddo, on March 31, 192S, and since that date it has been operated as a going concern by the receiver. In the beginning of the receivership the debts due to the ordinary creditors totalled the sum of $176,045.54. From time to time several 10 per cent, dividends have been paid to the creditors, and on September 30. 1930. the receiver made application to the court for an order authorizing him to pay another 10 per cent, dividend.

Among the ordinary creditors of the defendant was Johns-Manville…