In re Kramer Mercantile Co.

KENNAMER, District Judge.

The intervener, H. C. Huckaby, sold a stock of goods, on the 17th day of January, 1925, to. George J. Kramer, bankrupt, for a consideration of $9,036.35; $1,500 of the purchase price was paid in cash. The balance due was evidenced by two promissory notes, one in the sum of $1,500, and the other for $6,036.-35. The notes were secured by a chattel mortgage upon the stock of goods and fixtures; the mortgage providing that the $1,-500 note was to be paid by the application of one-half of the first $3,000 received by Kramer from the sales of merchandise, and that the…