Reed v. Aron

BIGGS, Circuit Judge.

The appellees, Aron and Broudo, a partnership which we will refer to hereafter as Globe, gave four promissory notes to A. S. Datz & Son, Inc., for merchandise purchased by Globe from Datz. These notes came due respectively on March 16, 1933, March 24, 1933, April 21, 1933, and May 28, 1933. Datz endorsed the notes to Commercial National Bank of Philadelphia, of which the appellant, Reed, is now the receiver, for value received and before maturity. Commercial National Bank was placed on a restricted basis on February 28, 1933, and a receiver was duly appointed for it by…