Bowman v. Swartz Electric Co.

May 23, 1921, the Swartz Electric Company executed a mortgage upon all its property to the Bankers Trust Company, as trustee, to secure the payment of an authorized issue of bonds, of which bonds $281,000 had been issued and were outstanding and unpaid. In January, 1922, Frederick A. Joss was appointed and qualified as receiver of said electric company.

Appellants, fourteen in number, each filed their separate claims with the receiver for money due them for work and labor performed for the electric company prior to the appointment of-the receiver. The Bankers Trust Company, trustee, by leave…