Leonard v. Nairn

KERNER, Circuit Judge.

In this case the appellants J. M. Leonard and O. P. Leonard are marginal grain customers of the debtor Rosenbaum Grain Corporation. These customers filed priority claims against the estate of the debtor commodity broker. In its order the District Court denied appellants priority of payment and relegated them to the position of general creditors. From this order the appeal here was taken.

On certain days in February, March and April of 1935 appellants placed orders for May and September wheat and deposited their margins, O. P. Leonard depositing $1,960.51 and J. M. Leonard…