Bank of California v. Clear Lake Lumber Co.

This case arose out of various conflicting interests involved in the affairs of the Clear Lake Lumber Company. In the summer of 1925, and at the instigation of a stockholder, receivers were appointed to manage its affairs, and later, in the early part of 1926, certain creditors, by independent suit, joining in the application, the former receivers were discharged and the present ones appointed. For a number of years prior to this time, the Clear Lake Lumber Company owned and operated a large mill at Clear Lake in Skagit county, had vast holdings of timber, considerable quantities of…