Court of Appeals for the Second Circuit February 26, 1907, Nos. 168, 172 (In re Coffin)

LACOMBE, Circuit Judge

(after stating the facts). In 1890 a Nebraska corporation, the Real Estate & Live Stock Association, of which the bankrupt and his wife were stockholders, being financially embarrassed, sought a loan from its stockholders. The. stockholders *382advanced $50,000 ($18.75 per share of their respective holdings), and .