Stitzer Hotel Co. v. Beyer

THOMSON, District Judge.

By involuntary petition filed December 31, 1927, the Stitzer Hotel Company, a corporation of the state of New Jersey, doing business in Atlantic o City, was alleged to be a bankrupt owing debts approximating $175,000. ' The petition alleges that petitioners are creditors, having provable claims amounting in the aggregate, in excess of the securities held by them, to approximately $18,000.

The petition alleges that the hotel company is insolvent and that it committed an act of bankruptcy on the 26th of September, 1927, by paying to the Chelsea National Bank $7,500 on…