Hamilton Nat. Bank v. McCallum

SIMONS, Circuit Judge.

The bankrupt, Alday Motor Company, was a corporation dealing in automobiles. Appellants filed claims against the bankrupt’s estate which were allowed as unsecured but disallowed as secured claims. The claim of security, substantially the same in each appeal, arises out of the following state of facts:

Appellants prior to adjudication were severally financing the bankrupt in its purchase of cars from the Chrysler Motor Car Company. The ears were shipped consigned to the manufacturer, with a sight draft, bill of lading, and order to notify bankrupt, sent to appellant bank.…