Rahway Nat. Bank v. Thompson

MORRIS, District Judge.

Nagle Steel Company, Inc., a Pennsylvania corporation, was adjudicated a bankrupt. Thereafter the trustee in bankruptcy filed with the referee Ms several petitions, alleging, in substance, that certain corporate bonds of the bankrupt, then severally held by Security Trust Company of Pottstown, Pa., National Bank of Pottstown, Pa., and Rah-way National Bank, of Rahway, N. J., had been issued and delivered to those banks by the bankrupt without legal consideration. The petitions prayed that the banks be enjoined from transferring the bonds, and, further, that they be…