Page:Federal Reporter, 1st Series, Volume 1.djvu/412

 404 FEDEEAL BEPOBTEB. �these suits. The fact remains that he was not able to meet bis obligations as they matured, and that Kulmer and Thompson & Binns knew it. He was staggering on, under the burden of his debts, endeavoring to procure time, and hoping to get through, but he was manifestly insolvent, and muat have so appeared to ail familiar with the facts referred to. His representations made to creditors, under the circum- stances, were entitled to little -credit, and receive little. Neither Messrs. Kulmer, nor Thompson & Binns, believed that "he had abundant means to pay ail his debts," if then pushed; otherwise they would not bave threatened suit, and pressed for judgments as they did. The exceptions filed by these creditors must therefore be dismissed. �We also agree with the master respecting the claims of the subsequent execution creditorsi Without the intervention of the assignee, it is clear, they could get nothing. The benefit of the intervention is for the general creditors. If it were not, the assignee should withdraw; and, if he did not, the court should dismiss his bill. Why should he interfere, at the expense of the state, to confer preference on these subse- quent executions ? Ami why should equity aid him in doing 80, if he desired ? In the distribution these executions will receive a dividend; to give them more would be most unjust. The levy made subject to the prior executions was of no value. It would not have realized a farthing. In principle the claims of these creditors cannot be distinguished from that made in Reed v. Mcintyre, 8 Otto, 513. �A decree must be prepared dismissing ail the exceptions, and confirming the report. ��� �