Smith v. Shenandoah Valley Nat. Bank of Winchester, VA
Court of Appeals for the Fourth Circuit
Appeal from the District Court of the United States for the Northern District of West Virginia, at Martinsburg; Alston G. Dayton, Judge. In the matter of the bankruptcy of the Norwalk Motor Company. Petition by C. G: Smith, receiver of the Norwalk Motor Car Company,' and others, to review an order of the referee, opposed by the Shenandoah Valley National Bank of Winchester, Va., and others. From a decree affirming the order of the referee, petitioners appeal.
1Opinion of the Court
WOODS, Circuit Judge.
The Norwalk Motor Car Company, a West’Virginia corporation, began to manufacture and sell automobiles in 1911. On December 26, 1912, it gave its note to the Shenandoah Valley National Bank for $20,000, indorsed by G. W. McKown, S. H. McKown, J. M. Rothwell, A. E. Skadden, S. P. Hopkins, and Gray Silver, all of whom were stockholders or executive officers of the company. To secure these indorsers, it executed on the same day its deed of trust covering a large part of its property. On the 14th of October, 1914, under a bill brought by G. W. McKown, who was president, and S.…
2Cases cited10 opinions
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