110 F. 738 | S.D.N.Y. | 1901
This is a review of the decision of the referee respecting the claim of Robert R. Sizer. Petition in bankruptcy was filed October 22, 1900.
On December 23, 1899, Sizer sold to the bankrupt merchandise of the value of $232.46, for which he received:
January 24, 1900. Cash. $ 29 68
January 24, 1900. Note payable and paid April 23d. 200 00
January 31, 1900. Cash. 2 78
Total ...$232 46
At subsequent dates Sizer sold the bankrupt merchandise as follows:
March 10. Merchandise . $357 80
August 16. Merchandise . 20 62
- $378 42
Upon which Sizer received the following payments:
June 26. Cash ....$100 00
August 23. Cash . 50 00
August 28. Labor of bankrupt. 37 17
- $187 17
Leaving a balance of.'... . $191 25
The court is constrained to the conclusion that there is no time limit to the operation of section 60a. The suggestion of the supreme court in Carson, Pirie, Scott & Co. v. Chicago Title & Trust Co., 5 Am. Bankr. R. 814, 21 Sup. Ct. 906, 45 L. Ed. 1171, tends in such direction; and the discussion of Judge Lowell in Re Jones, 4 Am. Bankr. R. 563, 110 Fed. 736, states the view that may be adopted
It results that the payments of $29.68 and $2.78, respectively, on January 24th and January 31st, were not preferences as to subsequent items of indebtedness, but the payments of the note on April 23d, and of $100 and $50, respectively, on June 26th and August 23d, were preferences as to all indebtedness preceding such several payments. Therefore it would seem that the only payments not creating .a preference were $29.68 and $2.78 and item for labor. The decision of the referee will be modified in accordance with the views here expressed.