Page:Federal Reporter, 1st Series, Volume 1.djvu/601

 AN8BUIZ V. HOEBR. 698- �insolvency, within the meaning of the bankrupt act, mëana inability to pay debts in the ordinary course of business ; and, unlesB the debtor is able to pay such debts as they mature, ivith money, he is insolvent in the contemplation of said act, notwithstanding he may have lands and goods sulScient, in time, to meet ail his liabilities." �Nicholas Wurzel, Sr., was a merchant, and, therefore, as applicable to him, the foregoing point contains an accurate statement of the law. Hardy y. Clark, 3 B. E. 387; Wehhx. Sachs, 15 B. R. 168 ; Foot v. Martin, 13 Wall. 47. In the last cited case the judge below char-;ed the jury that, "if the bankrupts could not pay their debts in the oridinary course of business, that is, in money, as they fell due, they were insolvent." This instruction was approved by the supreme court as applied to traders and merchants. �It seems to me the reasons assigned for a new trial are insuf&cient, and the motion is overruled. �In order properly to understand the questions of law reserved, it is necessary to state the following f acts : �Philip Hoerr's judgment against Wurzell was for the sum of $790.96. It was . entered and execution issued thereon December 22, 1875. On the same day, but at a later hour, August Klein entered judgment and issued execution against Wurzell for $1,500. The day foUowing, Lindsay, Sterrett & Co. entered judgment and issued execution against Wurzell for $2,200. Under and by virtue of these three executions the sheriff seized and sold the personal property, consisting mainly of his stock of merchandise of the defendant Wurzell. The amount realized by the sheriff's sale was $1,301.98, which the sheriff appropriated and paid as follows, to wit : �To costs, .... $223 90 �" Philip Hoerr, - - - - 803 46 �* August Klein, • - 274 62 ���$1,301 98 The assignee of the bankrupt claîms that the Klein judg- ment and execution were in fraud of the bankrupt act, and v.l,no.8— 88 ��� �