Meehan v. Beacon Trust Co.

LOWELL, District Judge.

This is a bill in equity brought by the trustee in bankruptcy of Adams, Blake & Bonney to recover alleged preferences. The defendants are Beacon Trust Company and Atlantic National Bank. The latter is added because it took over the business of the Beacon Trust Company after the occurrences which give rise to this suit. The Beacon Trust Company will be hereafter referred to in this opinion as “the defendant.”

Oscar A. Adams had been engaged in selling foodstuffs on commission for many years. He had been a depositor during that time with the defendant or its predecessor…