National Marine Bank v. Heller, Hirsh & Co.

This is an appeal from an order of the Circuit Court for Baltimore City sustaining exceptions filed by Heller, Hirsch & Co. and others to an auditor’s account distributing certain assets of The Chesapeake Guano Co., an insolvent corporation in the hands of receivers, and a brief reference to the previous history of the case will aid in reaching a conclusion .here. •

Some years ago this corporation, issued sixty thousand dollars of preferred stock, and subsequently became insolvent, after' contracting numerous debts to unsecured creditors. At the time of the appointment of receivers, the assets…