Salt Lake Tribune | 1902-07-22 | Page 1 | Bankruptcy Decision

BANKRUPTCY DECISION Circuit Court of Appeals Benders Important Opinion St riul Minn July 2The Circuit j court of appeals filed a decision in a < bankruptcy case Involving the prlncl j pie that all uncxcmpt properly which a bankrupt has owned four months before the Illlnpr of a petition against him must be distributed share and i share alike nmon the creditors I The Fourth National hank of St j Louis held notes against the Slepel Jllllman Dry onus company of that J city In the aggregate sum of 560000 Less than four months before the latter lat-ter was adjudged bankrupt It liul paid on these noles Ihe sum of 14600 Then the affairs of time bankrupt company went Into the hands of a referee The trustee S Jj SwurtK moved that all the claims of the bank be expunged unless II surrender the SlJCOO which had been paid on tho notes it held against the firm Tho referee granted the motion and time bank applied to the Federal district court which directed the referee to deny I de-ny the motion I Mr i SwarlK thereupon appealed the case lo the Circuit court of appeals and the judgment of the lower court was reversed