In re Waterloo Organ Co.
Court of Appeals for the Second Circuit
Petition for Revision of Proceedings of the District Court of the United States for the Western District of New York, in Bankruptcy.
Read the full summary
Petition for Revision of Proceedings of the District Court of the United States for the Western District of New York, in Bankruptcy. This cause comes here upon a petition to review an order which provided that the First National Bank of Waterloo might, before dividend, account with the trustee for 21 bonds of the organ company by delivering to him notes made or indorsed by said organ company which were discounted by said bank for said company prior to its bankruptcy, and which the bank still holds unpaid as valid obligations of the company. Upon delivery of such notes to the amount of…
1Opinion of the Court
LACOMBE, Circuit judge.
The explanation of this order is found in earlier decisions of this court, made in this same proceeding. 134 Fed. 341, 67 C. C. A. 255; 154 Fed. 657, 83 C. C. A. 481. At the time of bankruptcy the bank held 21 $500 bonds of the bankrupt corporation. It was contended that they had been issued without consideration and were void. It was shown that they were taken as collateral security at a time, when the company was indebted to the bank on its own and indorsed negotiable paper in the amount of about $30,000; that the company wanted a larger amount of discounts, and that…
2Cases cited2 opinions
- In re Waterloo Organ Co.Court of Appeals for the Second Circuit · 1904
- In re Waterloo Organ Co.Court of Appeals for the Second Circuit · 1907
3Cited by5 opinions
- In re Matthews, Inc.District Court, S.D. New York · 1911
- Shall v. NewberryDistrict Court, N.D. New York · 1916
- In re Battle Island Paper Co.District Court, N.D. New York · 1919
- Becher v. Contoure Laboratories, Inc.Court of Appeals for the Second Circuit · 1928
- Becher v. Contoure Laboratories, Inc.Court of Appeals for the Second Circuit · 1928