Belcher v. Webb

— Plaintiff was appointed receiver of White Finance Corporation in March, 1932. He brought this action to recover on account of certain alleged preferences. Granting a motion for nonsuit, the court entered judgment dismissing the action, from which plaintiff appeals.

For several years prior to November 18, 1930, the company had been engaged in the salary loan business. O. B. White was its principal stockholder, and, as manager, completely dominated its business. In the fall of 1930, he became desperately in need of funds to carry on the business. The company had theretofore been financed by…