Crane v. Morristown School Foundation

The opinion of the court was delivered by

Bodine, J.

The Morristown School Foundation, a corporation of this state (hereinafter referred to as School), was incorporated in 1911 to provide for the training of youth. The Morristown School Alumni, Incorporated, a New Jersey corporation (hereinafter referred to as Alumni), was organized to take over the school property after insolvency. It now conducts a school in the premises formerly occupied by the school. Arthur Gr. Baker, trustee for the creditors of the School, was chosen to take the School out of a receivership in the federal court. The…