United States & Mexican Oil Co. v. Keystone Auto Gas & Oil Service Co.

SCHOONMAKER, District Judge.

At the time of the appointment of the receivers in this case, the defendant had on deposit in various banks funds to the aggregate amount of about $15,000, which were • deposited in the name of the defendant corporation and designated either as “bond fund” or “sinking fund.” These funds grew out of the deposit of defendant in the various banks concerned of one cent per gallon for each gallon of gasoline sold by the defendant, and 5 per cent, of the sale price of merchandise sold by it at its several gasoline service stations, under the terms of a written instrument…