Gawthrop Co. v. Fibre Specialty Co.
Supreme Court of Pennsylvania
Appeal, No. 5, Jan. T., 1917, by D. Duer Philips, Fred T. MacDonald and James R. Miles, Executors of James M. Worrall, Deceased, from judgment of C. P. Chester Co., No. 579„ in Equity, sustaining exceptions to distribution of auditor in case of C. G. Gawthrop Company v. The Fibre Specialty Company, a corporation, George W. Taft, President, and J. W. Brainard, Secretary. Exceptions to report of H. H. Gilkyson, Esq., auditor.
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Appeal, No. 5, Jan. T., 1917, by D. Duer Philips, Fred T. MacDonald and James R. Miles, Executors of James M. Worrall, Deceased, from judgment of C. P. Chester Co., No. 579„ in Equity, sustaining exceptions to distribution of auditor in case of C. G. Gawthrop Company v. The Fibre Specialty Company, a corporation, George W. Taft, President, and J. W. Brainard, Secretary. Exceptions to report of H. H. Gilkyson, Esq., auditor. Before Hause, J. The facts appear by the opinion of the Supreme Court. The court sustained exceptions to the auditor’s report and directed that dividends in the hands of…
1Opinion of the Court
Opinion by
Me. Justice Wauling,
This is a question of distribution in an insolvent estate. On April 28,1913, receivers were appointed for the Fibre Specialty Company, a corporation. Prior thereto, on. July 23, 1912, the company for value gave George W. Taft a demand note for $5,000. J. W. Brainard was official treasurer of the company; and in 1903 gave a bond in $5,000, with Taft and James W. Worrall (now deceased) as sureties, conditioned for the faithful performance of his duties as such treasurer. June 26, 1913, Mr. *352Taft made an assignment of his estate, specifically including the $5,000…
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