89 Iowa 533 | Iowa | 1893
On the ninth day of October, 1888, Phineas Cadwell and William C. Cadwell executed to Stephen King a general assignment for the benefit of their creditors. They had been engaged as co-partners in doing a banking business at Logan, in Harrison county, under the name of Cadwell’s Bank, and at Woodbine, in the same county, under the name of Boyer Valley Bank. The assignment included all partnership property, and the individual property of the partners not exempt from execution, and was duly acknowledged and recorded on the day of its date. King qualified as assignee, and on the twenty-ninth day of October, 1888, filed in the proper office an inventory and appraisement of the property transferred to him by the assignment, as follows: Of Phineas Cadwell, eighteen thousand, two hundred and twenty-seven dollars and seventy-one cents; of William C. Cadwell, ninety-five dollars; of Cadwell’s Bank, twenty-three thousand, three hundred and fifty-two dollars and ninety-three cents; of Boyer Valley Bank, eleven thousand, six hundred and ninety-three dollars and thirty-nine cents. On the first day of November,
On the sixth day of July, 1889, in vacation, one of the judges of the district court of Harrison county made an order addressed to the assignee, as follows: “It is hereby ordered that you make an equitable distribution of the money now in your hands belonging to the above named estate between the creditors thereof who have proved their claims entitling them thereto, as required by law; and it is further ordered that in making the above distribution you, as assignee, are at liberty, and are hereby authorized, to use and dispose of any notes in your possession belonging to said estate, at a sum not less than the face value thereof. ’’ The assignee thereupon paid the three claims
In September, 1889, the assignee asked an allowance for his services, and the sum of four hundred dollars was so allowed, not, however, as full compensation for the services rendered. In January, 1890; the assignee renewed his application for an allowance, stating that the reasonable value of his services from the date of the assignment to the first day of September, 1889, was the sum of one thousand, seven hundred and thirty-three dollars and sixty-seven cents.
On the twenty-eighth day of March, 1890, the assignee filed a report, showing that he had incurred an indebtedness to S. I. King in the sum of one hundred and five dollars, and to H. H. Roadifer in the.sum of thirty dollars, for services rendered by them as attorneys in a proceeding instituted for the removal of the assignee. On the next day the appellees filed objections to the,report, alleging that the payment of the claims of Hyde, Mrs. Smith and Stephen King from the assets of Phineas Cadwell was illegal; that the fees asked to be allowed in favor of S. I. King and Roadifer were not charges against the estate, but should be paid by Stephen King as an individual; and that the charge of the assignee for services is unreasonable, and excessive to the amount of one thousand dollars."
The district court found and adjudged that the claims of Hyde, Mrs. Smith, and Stephen King were in fact claims against the partnership estate of Cadwell’s bank; that they had never been filed with the clerk of the district court, and that the report of them so filed only purports to give the amount claimed, name of the claimant, and to state that the claim was against the individual estate of P. Cadwell, without setting forth the facts on which the claim is based; that the order of July 6,1889, was not an adjudication
It is said that the appellees can not be heard to complain of the action of the assignee in paying the three claims specified, for the reason that they did not make timely objection to his doing so. Section 2120 of the Code provides that “at the expiration of three months from the time of first publishing notice, the assignee shall report and file with the clerk of the court, a true and full list, under oath, of all such creditors of the assignor as shall have claimed to be such, with a statement of their claims. * * Section 2121 provides that “any persons interested may appear within three months after filing such report, and file with said clerk any exceptions to the claims or demand of any creditor. * * *” It will be noticed that the list of claims in this case was filed with the clerk by the assignee more than a year before the objections of the appellees to their payment were made. The abstract recites that the report filed by the assignee “embraces a true an'd full list, under oath, of all persons who had claimed to be creditors of the assignors, with a statement of their respective claims;” but it is not shown what the statement contained, and we are compelled to resort to the finding of the court for information in regard to its contents. Sections 2120 and 2121, must
VII. Complaint is made of the compensation allowed to the assignee. In regard to that it is only
The conclusions announced dispose of all material questions presented for our determination. The matters in controversy are so distinct and separated that our judgment will be final as to so much of the action of the district court as is affirmed. Two thirds of the cost of the appeal will be taxed to the appellant, and one third to the appellee. The judgment of the district court in disallowing the charges of S. I. King and H. H. Koadifer as claimed against the estate of the Cad-wells is reversed ; in all other respects it is aeeirmed.