In re Purkett, Douglas & Co.

HOLLZER, District Judge.

On March 11, 1931, Purkett, Douglas & Company, hereinafter referred to as petitioner, filed a voluntary petition in bankruptcy herein and was adjudged a bankrupt on said date. Practically at the same time, petitioner filed a verified petition wherein it was charged that on December 18, 1930, petitioner had executed and delivered to William H. Neblett, hereinafter referred to as respondent, a note in the sum of $50,000 with interest at 6 per cent, per annum, payable sixty days thereafter, and as security for the payment of said note had pledged with respondent bonds of…