223 F. 323 | 8th Cir. | 1915
This was an appeal by the trustee of the estate of the Jones Dry Goods Company in bankruptcy, from an order made by the District Court allowing a claim for $15,000 in favor of the Central National Bank against the estate of the bankrupt. The facts of the case as disclosed by the proof of debt filed with the referee and by the evidence adduced at the trial are substantially these: In Aprii, 1910, L. M. Jones, president of the dry goods company, visited St. Louis, where the bank was engaged in business, and had an interview with Mr. Hilliard, the president of the bank, concerning loaning money to two corporations doing business in Kansas City, the Jones Dry Goods Company and the Jones Bros. Alercantiie Company, of both of which L. M. Jones and his brother, J. L. Jones, were the chief executive officers, and they together owned a majority of the capital stock of both corporations. The bank had before that time loaned to these two
The sole question in this case is whether the claim for $15,000, based upon the loan as just described, is a provable debt against the bankrupt, notwithstanding the fact that the notes evidencing it were signed in the individual names of the chief officers' of the company.