National Lumbermans Bank v. Lake Shore MacHinery Co.

Plaintiff filed a bill of complaint al-leging: That it is a creditor of the defendant in the sum of $19,729.35, and that defendant is indebted to others in the ■ sum of approximately $13,000; that “defendant is engaged in the business of jobbers of machinery and mill supplies;” that its assets, as shown by its books, have a value in excess of its indebtedness, but that during the last two years its business has been conducted at a loss of upwards of $23,000; that it is unable to borrow money or acquire further capital to use in the payment of its obligations, although it' has sufficient…