Case Name: DOEHLER DIE CASTING COMPANY et al., Complainant, v. GEARHART KNITTING MACHINE COMPANY, Respondent (COUNTY NATIONAL BANK, Intervener and Appellant)
Court: United States Court of Appeals for the Third Circuit
Jurisdiction: United States
Decision Date: 1925-12-14
Citations: 8 F.2d 1019
Docket Number: No. 3415
Parties: DOEHLER DIE CASTING COMPANY et al., Complainant, v. GEARHART KNITTING MACHINE COMPANY, Respondent (COUNTY NATIONAL BANK, Intervener and Appellant).
Judges: Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges.
Reporter: Federal Reporter 2d Series
Volume: 8
Pages: 1019–1019

Head Matter:
DOEHLER DIE CASTING COMPANY et al., Complainant, v. GEARHART KNITTING MACHINE COMPANY, Respondent (COUNTY NATIONAL BANK, Intervener and Appellant).
(Circuit Court of Appeals, Third Circuit.
December 14, 1925.)
No. 3415.
Moorhead & Knox, of Pittsburgh, Pa., and Hartswick, Arnold & Platt, J. P. O’Laughlin, and A. H. Woodward, all of Clearfield, Pa., for appellant.
Reed, Smith, Shaw & McClay, of Pittsburgh, Pa., Wolf, Patterson, Block & Schorr, of Philadelphia, Pa., A. M. Liveright, of Clearfield, Pa., and Sidney E. Smith, of Philadelphia, Pa., for appellees.
Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges.

Opinion:
PER CURIAM.
The exigencies of this receivership call for such a speedy decision of this ease that an extended discussion of its issues is impossible. Wo shall only say that in our opinion the money to> be raised on receivers' certificates and to be applied in part to the discharge of tho corporation's past-due indebtedness to service instructors and to many thousand widely scattered "knitters," whereby the recovery of many thousand dollars worth of the corporation's yarn and tho enhancement of the value of certain of its assets are made possible, will not, in tho peculiar character of the business, amount in law to preferential payment of the claims of unsecured creditors, but rather that such payment is a necessarily precedent factor in the conservation of the corporation's property.
Tho decree of the District Court is affirmed.