Sexton v. American Trust Co.

KENTON, Circuit Judge.

This is an appeal from an order in a bankruptcy proceeding approving and confirming the report of a special master denying appellant the right to recover in full the proceeds from the unlawful conversion by the bankrupt of certain Cities Service Company stock. Appellant’s claim was allowed as a class A preferred claim for the full amount, but the fund available for the payment of claims is not sufficient to pay all the claims of said class. The bankrupt, Saylor & Wiehelman, an Iowa corporation, was engaged in the stock and grain brokerage business. It handled its stocks…