McGee v. Branan & Carson Co.

SIBLEY, District Judge.

The suit is to recover as a preference money paid to Bran-an & Carson Company, and was submitted to the court without a jury. I find the facts to be these:

The bankrupt, Bray, lost his stock of drugs and fixtures by fire in November, 1923, having insurance thereon of $3,000. This insurance, together with accounts of a face value of $500 or $600, but of nominal actual value, together with a secondhand automobile, in which he had an equity of about $400, constituted his assets. He owed $700 on a mortgage of 'his stock of merchandise, and to Branan & Carson Company he owed…