White, Receiver v. Ph&338nix Iron Works

Opinion by

Me. Justice Kephaet,

The R. L. Dollings Co. (herein called plaintiff) and the Phoenix Iron Works Co. are Pennsylvania corporations, the former having its office and place of business in the City of Philadelphia, the latter in Meadville. The Dollings Company was engaged in financing manufacturing corporations and selling their preferred stock on a commission basis. Because of grossly fraudulent conduct, which met its usual fate, the company became insolvent, and Thomas Raeburn White, of Philadelphia, was appointed receiver. In an effort to clean up the wreck he directed suit to be…