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and any State court which would have had jurisdiction if bankruptcy had not intervened, shall have concurrent jurisdiction.” 14

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14 30 St. at L. $ 454, 562, § 605, as amended, 36 St. at L. 838, 842. For cases where chattel mortgages held to

invalid, Frank v. Vellkommer, 205 U. S. 521, 51 L. ed. 911, N. Y., in which the author was counsel, Knapp v. Milwaukee Tr. Co., 216 U. S. 545, 54 L. ed. 610, Wisc.; Fairbanks Shovel Co. v. Wills, 240 U. S. 642, Ill.; Fourth St. Nat. Bank v. Millbourne Mills Co.'s Trustee, C. C. A., 172 Fed. 177, Pa.; Re Hammond, 188 Fed. 1020, Ohio; Re Geiver, 193 Fed. 128, S. D.; Re Smith, 198 Fed. 876, Misc.; Sattler v. Slonimsky, 199 Fed. 592, Pa.; Skilton v. Codington, 185 N. Y. 80; 113 Am. St. Rep. 885; Re Shiebler, 165 Fed. 363, N. Y.; Re Bothe, C. C. A., 173 Fed. 597, Mo.; Re Beckhaus, C. C. A., 177 Fed. 141, Ill.; Re Oxley, 182 Fed. 1019, Wash.; Re Watts-Woodward Press, C. C. A., 181 Fed. 71, N. Y.; Re Jules & Frederic Co., 193 Fed. 533, Mass.; Re New Galt House Co., 199 Fed. 533, Ky.; Re Williamsburg Knitting Mill, 190 Fed. 871, Va.; Re Jacobson & Perrill, 200 Fed. 812, Ga.; Re Noethen, C. C. A., 201 Fed. 97, N. Y.; Pacific State Bank v. Coats, 205 Fed. 618, Wash.; L. A. Becker Co. v. Gill, 206 Fed. 36, Miss.; Millikin v. Second Nat. Bank of Baltimore, C. C. A., 206 Fed. 14, Md.; Schauppv. Miller, 206 Fed. 575, Oregon; Re Manning, 206 Fed. 685, S. C.; National Bank of Athens v. Shackelford, C. C. A., 208 Fed. 677, Ga.; Re Rouse, C. C. A., 208 Fed. 881, Mich.; Covington v. Brigman, 210 Fed. 499, N. C.; Re Soforenko, 210 Fed. 562, Mass.; Fourth Nat. Bank

1. Willingham, C. C. A., 213 Fed. 219, Ga.; Deupree v. Watson, C. C. A., 216 Fed. 483, Ky.; Re Palmer, 218 Fed. 74, N. Y.; Williams v. German American Trust Co., 219 Fed. 507, Colo.; Brigman v. Coving. ton, C. C. A., 219 Fed. 500, N. C.; William v. German-American Trust Co., C. C. A., 219 Fed. 507, Colo.; in Rc T. H. Bunch Commission Co., 225 Fed. 243; Re Cooper's Estate, 226 Fed. 317, Iowa; ScandinavianAmerican Bank v. Sabin, C. C. A., 227 Fed. 579, Oregon; Re Novelty Web Co., 228 Fed. 1007, N. J.; Re Caslon Press, C. C. A., 229 Fed. 133, Ill.; Tepel v. Coleman, 229 Fed. 300, Penn.; Re Progressive Wall Paper Corp., 230 Fed. 171, N. Y.; Re French, 231 Fed. 255, 257, N. Y.; Clark v. Grimes, 232 Fed. 190, Md.; Hawkins v. Dannenberg Co., 234 Fed. 752, Ga.; Grimes v. Clark, C. C. A., 234 Fed. 604, Md.; Re Novelty Web Co., C. C. A., 236 Fed. 501, N. J.; Re Mossler Co., C. C. A., 239 Fed. 262, III.; Re Webster Loose Leaf Filing Co., 240 Fed. 779, N. J.; Lake View State Bank v. Jones, C. C. A., 242 Fed. 82, Wisc.; Re Best, 248 Fed. 250, Ala.; Re Steiner, 249 Fed. 880, N. Y.; * Calkins v. Lichtig, C. C. A., 251 Fed. 844, Mich; Re Schilling, 251 Fed. 966, Ohio; Re Petersen, 252 Fed. 849, Nev.; Re P. J. Sullivan Co., C. C. A., 254 Fed. 660, N. Y. For chattel mortgages which were sustained, see Humphrey v. Tatman, 198 U. S. 91, 25 Sup. Ct. 567, Mass.; York Mfg. Co. v. Cassell, 201 U. S. 334, 351, 50 L. ed. 782, Ohio; Holt v. Crucible Steel Co. of America, 224 U. S. 262, Ky.; Mar

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“Such trustees, as to all property in the custody or coming into tin v. Commercial Nat. Bank of C. A., 248 Fed. 223, N. Y.; GarriMacon, Georgia, 245 U. S. 513, Ga.; son v. Kurt, C. C. A., 249 Fed. 672, Re Shaw, 146 Fed. 273, Me.; Re Kan.; Re Schilling, 251 Fed. 966, Doran, 148 Fed. 327, Ky.; Re Ohio; Karasik v. People's Trust Standard Telephone & El. Co., 157 Co., 252 Fed. 324, N. Y.; Re RoseFed. 106, Wisc.; Re Columbia Fire D.

boom, 253 Fed. 136, N. Y.; Re Drag, & T. Co., 169 Fed. 159, N. Y.; Matt- 254 Fed. 474, Mich; Re Davies, 256 ley v. Wolfe, 175 Fed. 619, Neb.; Fed. 52, Tenn.; Re F. & D. Co., C. Re Lausman, 183 Fed. 647, Ky.; Re C. A., 256 Fed. 73, N. Y.; Re CamEndlar, C. C. A., 192 Fed. 762, pion, 256 Fed. 902, N. Y.; Re BradMass.; Re Riehl, 200 Fed. 455, Md.; ley, 263 Fed. 446, Conn. For cases Lindley v. Ross, C. C. A., 200 Fed.

where transactions were set aside as 733, Ill. ; Re Nuckols, 201 Fed. 437, preferential, see McElvain v. HarTenn.; Re Hawks, 204 Fed. 309, desty, C. C. A., 169 Fed. 31; LudKan.; Anderson v. J. O. & N. B. vigu v. Am, Woolen Co., 176 Fed.

145. Chenault, C. C. A., 208 Fed. 400,

In the following cases, the Ga.; Davis Hanover Savings transactions

not sustained; Fund Society, C. C. A., 210 Fed. Rogers v. Fidelity Sav. Bank & 768, S. C.; Sheppard-Strassheim Co., Loan Co., 172 Fed. 735; Re Medina v. Black, C. C. A., 211 Fed. 643, Quarry Co., 179 Fed. 929; Nelson Ill.; Peterson v. Sabin, C. C. A., v. Svea Pub. Co., 178 Fed. 136; Chi214 Fed. 234, Ore.; Deupree v. Wat

cago Title & T. Co. v. Federal Tr. son, C. C. A., 216 Fed. 484, Ky.;

& Sav. Bank, 192 Fed. 967; ContiRe Lane Lumber Co., C. C. A., 217

nental & C. T. & S. Bank v. ChiFed. 550, Idaho; Stellwagen cago T. & T. Co., C. C. A., 199 Fed. Clum, C. C. A., 218 Fed. 730, Ohio;

704; Re Hawkins, 243 Fed 792; Re Marriner, 220 Fed. 542, Me.;

John A. Schmitt's Sons v. ShadMarsh v. Walters, 220 Fed. C. C. A. rach, C. C. A., 251 Fed. 874. Where 805, Ohio; Re Henry Siegel Co., 223

the State statute permits, $ 60 as Fed. 369, Mass.; Re Virgin, 224

amended establishes a different rule Fed. 128, Ga.; Re Johnson, 224 Fed. for the computation of time within 180, Wash.; Re Bolstad, 224 Fed.

which an unrecorded transfer may 283, Wash.; Re Mosher, 224 Fed. be set aside as a preference and the 739, N. Y.; Sieg v. Greene, 225 Fed.

time within which after such a 955, C. C. A., Iowa; Re Roberts, 227 transfer a petition for involuntary Fed. 177, Ga.; Johnson-Baillie Shoe bankruptcy may be filed. Cf. BankCo. v. Bardsley, Elmer & Nichols, ruptcy Law, $ 3b. Where the State C. C. A., 237 Fed. 763, Utah; Bor- statute permits, but does not reder Nat. Bank v. Coupland, C. C. A.,

quire the record of the transfer, 240 Fed. 355, Tex.; Re Stucky

the period of four months is calTrucking & Rigging Co., 240 Fed.

culated from the date of the trans427, N. J.; Johnstone v. Babb, C.

fer and not from the date of record. C. A., 240 Fed. 668, S. C.; Re Pearl- Carey v. Donohue, 240 U. S. 430; man, 246 Fed. 874, N. Y.; Re East Getman v. Lippert, 171 N. Y. App. Stroudsburg Glass Co., 247 Fed. 614, Div. 536; Robertson v. Schlotzhauer, Penn.; Re R. E. Taylor Corp., C.

C. C. A., 243 Fed. 324; even when

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the custody of the bankruptcy court, shall be deemed vested with all the rights, remedies, and powers of a creditor holding a lien by legal or equitable proceedings thereon; and also, as to all property not in the custody of the bankruptcy court, shall be deemed vested with all the rights, remedies and powers of a judgment creditor holding an execution duly returned unsatisfied." 15 "The trustees may avoid any transfer by the bankrupt of his property which any creditor of such bankrupt might have avoided, and may recover the property so transferred, or its value, from the person to whom it was transferred, unless he was a bona fide holder for value prior to the date of the adjudication. Such property may be recovered or its value collected from whoever may have received it, except a bona fide holder for value. For the purpose of such recovery any Court of Bankruptcy as hereinbefore defined, and any State court which would have had jurisdiction if bankruptcy had not intervened, shall have concurrent jurisdiction." 16 "If a debtor shall, directly or indirectly, in contemplation of the filing of a petition by or against him, pay money or transfer property to an attorney and counselor at law, solicitor in equity, or proctor in admiralty for services to be rendered, the transaction shall be re-examined by the court on petition of the trustee or any creditor, and shall only be held valid to the extent of a reasonable amount to be determined by the court, and the excess may be recovered by the trustee for the benefit of the estate." 17 Preferences, under

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the State statute provides that if the record is delayed the instrument shall be deemed fraudulent so far as relates to subsequent purchasers in good faith without notice. Ibid, Marsh v. Leseman, C. C. A., 242 Fed. 484; Hoshaw v. Cosgriff, C. C. A., 247 Fed. 22; Re Anderson, 257 Fed. 272; to subsequent lienors; Bonner First Nat. Bank of Athens, C. C. A., 248 Fed. 692, but if the failure to record was made with the intent to support the credit of the party subsequently adjudged a bankrupt, the transfer may be set aside as fraudulent. National Bank of Athens v. Shackleford, 239 U. S. 81; Manders v. Wilson, C. C. A., 235 Fed. 878; Cooper Grocery Co. v. Penland C. C. A., 247 Fed. 480; Hawkins v. Dannenberg Co., C. C. A., 253 Fed. 529. But see Bean v. Orr, C. C. A., 182 Fed. 599; Mar. tin v. Commercial Nat. Bank, C. C. A., 228 Fed. 651; Robertson Schlotzhauer, C. C. A., 243 Fed. 324; Getman v. Lippert, 171 N. Y. App. Div. 536. In the following cases, the transactions were sustained ; Powell v. Gate City Bank, C. C. A., 178 Fed. 609; Pyle v. Texas Transport & Terminal Co., 192 Fed. 725; Sexton v. Kessler & Co., 225 U. S. 90; Mills v. Virginia-Carolina Lum

ber Co., C. C. A., 164 Fed. 168; Re Kessler & Co., 174 Fed. 906; Re Bird, 108 Fed. 229; Mason v. National. Herkimer County Bank, C. C. A., 172 Fed. 529, reversing 163 Fed. 920; Germania Sav. Bank & Tr. Co. v. Loeb, C. C. A., 188 Fed. 285; Stennick v. Jones, C. C. A., 252 Fed. 345.

15 36 St. at L. 838, amending 30 St. at L. 544, 557, § 47; Kelley v. Gill; 245 U, S. 116; Stellwagen v. Clum, 245 U. S. 605; Re Whatley Bros., 199 Fed. 336, cf. $ 643, supra; Re Snelling, 202 Fed. 259; Re Farmers' Co-Operative Co. of Barlow, N. D., 202 Fed. 1008; Re Morris, C. C. A., 204 Fed. 770; Re Rutland-Perry Co., 205 Fed. 200; Pacific State Bank v. Coats, C. C. A., 205 Fed. 618; Re Superior Drop Forge & Mfg. Co., 208 Fed. 813; Re Lane Lumber Co., 210 Fed. 82, S. C., C. C. A., 217 Fed. 550; Cooper Grocery Co. v. Park, C. C. A., 218 Fed. 42; Martin v. Commercial Nat. Bank of Macon, Ga., C. C. A., 228 Fed. 651; Re Zeis, 229 Fed. 472; Re Collins, 235 Fed. 937, Cohen v. Nixon & Wright, 236 Fed. 407; Re American Candy Mfg: Co., 248 Fed. 145; Brown v. Crawford, 252 Fed. 248. But see Re Anson Mercantile Co., 203 Fed. 871,

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or.

16 30 St. at L. 544, . $ 70, as amended by 32 St. at L. 797. This gives a right of action to the trustee when the property was fraudulently conveyed more than four months before the institution of the proceedings. Bush v. Export Storage Co., 136 Fed. 918; Mueller v. Bruss, 112 Wis. 406; Andrews v. Mather, 134 Ala. 358; Beasley v. Coggins, 48 Fla. 215. In the latter case, it has been held, that without the defend ant's consent the proceedings cannot be instituted in the Court of Bankruptcy. Gregory v. Atkinson, 127 Fed. 183, hy Referee Geiger; supra, & 608. Except, at least, when there was no consideration for the conveyance, fraudulent intent on the part of the grantee, as well as on the part of the bankrupt, must be shown, Bush F. Expert Storage Co., 136 Fed. 918, 922; unless the conveyance is made within four months prior to the filing of the petition in bankruptcy and while the bankrupt was insolvent, when no proof of frand is necessary if such a convey. anne is void by the laws of the State as against the creditors of the debt

30 St. at L. 544, § 67e. "'A sale may be void for bad faith, though the buyer pays the full value of the property bought.' This is the consequence where his purpose is to aid the seller in perpetrating a fraud upon his creditor, and where he buys recklessly, with guilty knowledge.Re Pease, 129 Fed. 446, 418, citing Clements v. Moore, 6 Wall. 312, 18 L. ed. 786. See supra, $ 621. For cases where sales of all the bankrupt’s property or of bis entire stock of goods were held to be fraudulent, see Re Knopf, 146 Fed. 109; Ott v. Doroshow, 147 Fed. 762; Re Lipman, 201 Fed. 166; Re Julius Bros., 209 Fed. 376; Bentley v. Young, 210 Fed. 202; aff 'd C. C. A., 223 Fed. 536; Maires v. Northside Metal & Machinery Co., 221 Fed. 115.

17 30 St. at L. 544, 562, § 60. It has been held that it is not a pref. erence for the bankrupt to give his attorney a mortgage to secure pay. ment of a reasonable fee for services to be subsequently rendered in relation to his indebtedness, Re Pangborn, 185 Fed. 673; Re Cum

1

508.

a general deed of assignment, executed within the four months' period, are set aside by the bankruptcy proceedings.18 A preferential transfer of accounts or other property, made more than four months prior to the filing of the petition in bankruptcy, cannot be set aside in bankruptcy as a preference.19 The time is ordinarily calculated from the date when the lien actually accrues, although it relates back to a prior time.20 The assets of a partnership upon its insolvency should first be applied to the payment of liabilities of the firm and assets of the individual partners to their respective individual liabilities. A transfer by one of the partners of his property in payment of a partnership debt may be set aside as preferential.21 It has been held mins, 196 Fed. 224, infra, $ 647; signed). But see Lowell v. Internor for defending the bankrupt in a national Tr. Co., C. C. A., 158 Fed. criminal prosecution, Re Pangborn, 781; or certification until within 185 Fed. 673. See $$ 608a, 611, such time. Re Frazin, C. C. A., supra.

. 201 Fed. 86. Where a judgment by 18 Randolph v. Scruggs, 190 U. S. confession was entered within the 533, 47 L. ed. 1165.

four months' period upon an irre19 Jackson v. Sedgwick, 189 Fed. vocable power of attorney, given

Contra, Tilt v. Citizens' Tr. previously thereto, it was held that Co., 191 Fed. 441; Blair v. Brailey, the judgment and execution thereC. C. A., 221 Fed. 1; Broach v. under were a preference suffered or Mullis, 228 Fed. 551; Hagar v. permitted by the debtor, Wilson v. Watt, 232 Fed. 373.

Nelson, 183 U. S. 191, 46 L. ed. 147. 20 Freedman's Saving and Trust

Where record is not necessary, in Co. v. Earle, 110 U. S. 74; Metcalf the absence of fraud, the four 1. Barker, 187 U. S. 165; Re Dar- months' period begins to run from win, 117 Fed. 407. But see Fisher v. the date when the transfer was first Zollinger, C. C. A., 149 Fed. 54; valid and not from the date when Remington on Bankruptcy, § 1384. the grantee took possession or the Since an order by a bankrupt for bankrupt's creditors acquired nothe payment of money by his deb- tice. Little v. Holley-Brooks Hardtor to a third person does not take ware Co., C. C. A., 133 Fed. 874; effect until it is presented to his Re Hunt, 139 Fed. 283; Re Evans debtor, consequently it may be set Lumber Co., 176 Fed. 643; Re Wat. aside if not presented for payment son, 201 Fed. 962; Davis v. Hanwithin the four months, although over Savings Fund Society, C. C.' executed previous thereto. Johnston A., 210 Fed. 768. But see Carey v. v. Huff, Andrews & Moyler Co., C. C. Dowling, C. C. A., 209 Fed. 328; A., 133 Fed. 704; Long v. Farmers' Ovengton v. Brigman, 210 Fed. 499; State Bank, C. C. A., 147 Fed. 360 Re Alden, 233 F d. 161. (a written contract to assign fire 21 Mayes v. Palmer, C. C. A., 208 insurance as collateral security when Fed. 97; Re Frazer, 221 Fed. 83. the policies themselves were not as

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