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BAILEY v. PROCTOR

No. 4313.

166 F.2d 392 (1948)

BAILEY et al. v. PROCTOR et al.

Circuit Court of Appeals, First Circuit.

February 20, 1948.

Attorney(s) appearing for the Case

Milton S. Gould, of New York City (Henry M. Leen, of Boston, Mass., and Samuel H. Kaufman, of New York City, on the brief), for appellants.

Edward O. Proctor, of Boston, Mass. (Stephen C. Struffolino, of Lawrence, Mass., on the brief), for Proctor and others, receivers.

Robert H. Davison, of Boston, Mass., for Wm. J. Minsch and others, appellees.

Before MAGRUDER, MAHONEY and WOODBURY, Circuit Judges.

MAHONEY, Circuit Judge.

The affairs of the Aldred Investment Trust are before us for the fourth time. For a full discussion of the history of this trust, reference is made to our earlier opinions, since the facts will be only briefly summarized here.

The trust, which was organized in 1927 as a Massachusetts trust was registered with the Securities and Exchange Commission as a closed-end, non-diversified management investment company. In 1944 the trust had...

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