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Show PROPERTY OP BANKRUPT SUXJECT TO TAXATION. 11 "' ' ' E"ot Exempt Prom. Ctato Action, Declares De-clares Suds Caldwell. . ST. LOUIS. Feb. 4. In an opinion .handed .hand-ed down by the United States Court of Appeals, Ap-peals, Judge Caldwell, Who wrote . the opinion, holds that property of a bank-' bank-' a rupt in the custody of a trustee, is not eiempt from State action. Judge Caldwell said that Congress. In S passing the bankruptcy act. had not attempted at-tempted to exempt from State taxation any property Jn the possession of a trus-t. trus-t. The power of taxation is purelv leg-is leg-is ative.vnot a Judicial function, snd no bankrupt court has any more rfcht than ar y other court to exempt from State taxation property of a bankrupt In the rnda of an officer of the court, which is to taxation. , |