Stepp v. McAdams

STEPHENS, Circuit Judge.

This is an appeal and a cross-appeal in an equity receivership proceeding from a District Court order entitled: “Order Confirming Third Report of Ed. McAdams as Receiver for the Elmer Company, Ltd., Dismissing Order to Show Cause of Howard W. Stepp and for Distribution to Howard W. Stepp and Guaranty Liquidating Corporation” [hereinafter called the Order of May 14, 1937]. The order was made in two proceedings, which were heard concurrently, the Court making one order embracing its decision in both matters.

In order to fully understand the problems presented by these…