Stowe v. Wolverine Metal Specialties Co.

Upon the bill of a stockholder and with the consent of the defendant company, the Michigan Trust Company was appointed receiver of the Wolverine Metal Specialties Company. Martin DeGraaf was president and treasurer of the company. After its qualification, the receiver filed a petition setting up that DeGraaf had in his possession a large amount of tools and equipment belonging to the company which he had failed to turn over to the receiver; that just prior to the appointment of the receiver DeGraaf as treasurer of the company drew from the bank $2,272.22, which he had failed to turn over to…