First Nat. Bank of Bay City v. Young's Estate

HICKENLOOPER, Circuit Judge.

Appellant complains of the allowance in bankruptcy of an unsecured claim proved on behalf of appellee. Three chief; grounds of objection are urged. These will he discussed separately.

The bankrupt corporation was organized in 1914 by Walter D. Young, a competent executive and a man of considerable means. Mr. Young became and remained its president until his death in 1916. The purpose of its organization was the manufacture and sale of ready-cut houses as an adjunct to or expansion of the lumber and hardwood flooring- business of its founder. Somewhat over 82 per…