dissenting: With all due deference to the majority of this Court, and to the Circuit Court of Appeals for the Second Circuit, I continue to believe that the transaction present in this case (and also the one present in the Brewster Shirt Corporation case) is one more analogous to the discount of accounts receivable than to securing, by way of collateral security or mortgage, accounts payable.
Murdock and Disney, JJ.. agree with this dissent.