James A. Davis, Trustee in the Matter of Midwest Livestock Commission Company, a Nevada Corporation, Bankrupt v. Security National Bank of Nevada

KILKENNY, Circuit Judge:

This is an appeal from a judgment of the district court dismissing appellant’s action against appellee for the recovery of a substantial amount of money claimed to be a preferential transfer within the meaning of Section 60 of the Bankruptcy Act. [11 U.S.C. § 96].

FACTUAL BACKGROUND

Appellant is trustee in bankruptcy for Midwest Livestock Commission Company [Midwest], former operator of a livestock auction yard at Fallon, Nevada. Midwest received cattle upon consignment from various sellers and upon the consummation of a sale would accept a draft or check from the…