Boggs Broom Corn Co. v. Saberton

ALSCHULER, Circuit Judge.

The Evansville Broom Company, a concern manufacturing brooms, was adjudged a bankrupt on a petition filed June 23,1925. It was insolvent on December 1, Í924, and was continuously insolvent thereafter, which appellant at all times well knew.

On December 1, 1924, bankrupt owed the appellant, a dealer in raw materials used in the manufacture of brooms, $50,828.50, and was hard pressed for materials for use in its factory and for cash to meet its pay roll. On that date the bankrupt wrote the appellant the following letter:

“If we will assign to your company good collectible…