Brickley v. Wrenn

Earnest E. Smith and Company, hereinafter called Smith, and the defendants were stockbrokers. The plaintiff is Smith’s trustee in bankruptcy. The defendants’ firm, as well as Smith’s, each had members who were members of the stock exchanges in Boston and in New York. Smith was insolvent January 17,1921; the defendants had knowledge of this fact. January 18, Smith filed a voluntary petition in bankruptcy in the United States District Court, in Boston. On that date he owed the defendants on overdue promissory notes for money borrowed, $150,019.06; he also owed the defendants $307,699.34 for…