Chavelle

Chavelle v. Washington Trust Co.

Good Law
141 C.C.A. 230·226 F. 400·1915 U.S. App. LEXIS 2207
United States Court of Appeals for the Ninth CircuitOctober 4, 1915No. 2512California1,544 words

Opinion

lead Opinion

Ross, J.

(after stating the facts as above). [1] Under repeated rulings, the trust company was justified in resorting to both appeal and petition to bring up for review the rulings of which it complains, in order to avoid a mistake in its remedy. In re Worcester County, 102 Fed. 808 , 42 C. C. A. 637 ; Lockman v. Lang, 132 Fed. 1 , 65 C. C. A. 621 ; Fisher v. Cushman, 103 Fed. 860 , 43 C. C. A. 381 , 51 L. R. A. 292; Collier on Bankruptcy (8th Ed.) 434-436. The motion to dismiss is denied.

The findings of fact and evidence show, among other things, that the $23,300, par value, of the bonds issued to McPhaden, were issued *406 to him by the Steel & Bolt Company in payment of money he had theretofore advanced to the company, and that McPhaden was then a stockholder, director, and the president of the company; and that the $2,900, par value, of the bonds issued by the Steel & Bolt Company to Pike were issued to him by the Steel & Bolt Company in payment of money he had theretofore advanced to the company; and that Pike was then a stockholder, director, and the secretary and treasurer of the company.

It is true that.the deed of trust declared that none of the bonds should be sold or disposed…

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