In re American Guarantee & Security Co. of California

FARRINGTON, District Judge.

The alleged bankrupt .is a California corporation. An admission in writing that the corporation is unable to pay its debts, and is on that ground willing to be adjudged a bankrupt, is the only act of bankruptcy relied on by petitioning creditors. The petition shows that the admission was made by resolutions formally adopted at duly and regularly called meetings of the board of directors and of the stockholders. The material portion of the directors’ resolution is as follows;

“Now, therefore, resolved, that because of the facts above stated, and for the reasons…