Beardsley v. Ernst.

OPINION

By MeGILL, J.

On behalf of the plaintiff, proof was introduced that the International Match Corporation was adjudicated bankrupt by the United States District Court of the Southern District of New York on April 9, 1932. There was introduced by stipulation copies of an audit made by Price, Waterhouse & Company, who were employed to audit the affairs of the International Match Corporation, and these audits had been filed with the Referee in Bankruptcy.

The audit made by Price, Waterhouse & Company revealed annual net earnings of the International Match Corporation for the years involved to…