Delaware, Lackawanna & Western Railroad v. Oxford Iron Co.

Van Fleet, V. C.

This is an application for direction. In September, 1878, the persons constituting the firm of Selden T. Scranton & Com*152pany made an assignment, under the statute regulating assignments by debtors for the benefit of their creditors, to Benjamin G. Clarke. Subsequently, under the bill filed in this cause, Mr. Clarke was appointed receiver of the Oxford Iron Company. He was thus invested with a dual character. Prior to their assignment, Selden T. Scranton & Company had endorsed the paper of the Oxford Iron Company to an amount exceeding $900,000. They were accommodation…