Page:Federal Reporter, 1st Series, Volume 1.djvu/252

 2ee FEDERAL REPORTER. �Herdic and Olmstead; that the lands were to be sold at such times and priees as the parties should think advisable, and until sold Hardie and Olmstead should pay ïoma interest on two-thirds of the amount of each payment of purchase money made by him at the rate of seven per eent. per annum, and each party should pay one-third of the taxes; that when the lands were sold Tome should be first reimbursed the purchase money paid by him, and the balance of the proceeds of sale should then be equally divided between the three parties. �Jacob Tome paid the entire purchase money. Herdic paid his stipulated share of the interest which aecrured up to October 19, 1875, but he paid no interest subsequently ac- cruing. �The parties made no sales oî any part of these lands. They were never able to dispose of them at an advance, or, indeed, for the priee Tome had paid for them. �Herdic being in arrear for his share of the taxes, his inter- est in said land was sold for taxes at treasurer's sale, on June 10, 1878, and purchased by Jacob Tome, to whom the treas- urer of Potter county executed a deed. �Mr. Tome testiiies that he and Olmstead have been and are willing to sell these lands at what they cost, and even for less. From the unoontradicted evidence it is manifest that at the time vrhen the bankrupt made his affidavit these lands were not worth the money Jacob Tome had invested in them. The bankrupt's interest in them. was, therefore, of no value whatever had it then been redeemed and unencumbered. But it appears that whatever redeemable interest the bank- rupt then had was encumbered by unimpeaehable liens, amounting to far more than the value of the entire 12 tracts. �In explanation of the omission from his schedule of his interest in these lands, Mr. Herdic testiiies : "It had been sold at treasurer's sale, and I didn't think it belonged to me." Under ail the ciroumstances I accept this explanation as reasonable and truthful. Certainly the evidence does not warrant the harsh conclusion that the bankrupt "bas wilfuUy sworn falsely" touching this matter. ��� �