Page:Federal Reporter, 1st Series, Volume 2.djvu/162

 IN HE LIS3BT3RGER. 155 �eeem to have been entertained at this time, but ail the notes were either then regarded or had been previously regarded as exchange notes. Hamill, on or about the same day, at the request of Lissburger, signed a composition agreement for his debt. Opposite to his signature the debt was entered at "about $134,000," in Lissburger's handwriting. This Com- position apparently fell through, and about January 9, 1875, a petition in bankruptcy against the firm was filed by Liss- burger. Before adjudication, a composition of 15 per cent, •was agreed to by a sufficient amount of the creditors in num- ber and value. This composition has been paid to ail the creditors, except to Mr. Sinclair, the receiver of Hamill's estate, The estate is confessedly insolvent. From a notice, which was put in evidence, it seems that he was adjudged a bankrupt by the district court for the eastern district of Ar- kansas, about September, 1876. �Mr. Holmes paid a composition of 15 per cent, upon $85,839.77 to the various holders of the Hamill paper in- dorsed by Holmes & Lissburger. He also paid the same composition upon $50,968 of the $68,000 notes first loaned by his firm to Hamill. $17,032 of these notes were not used. �In addition to the purchase of the iron, Holmes & Liss- burger owed Hamill, at the time of their bankruptcy, $9,024 for cash borrowed. The commissioner stales the account aa follows : �Holmes & Lissburger, Dr. �To amount of iron pnrchased, • $184,214 00 �To amount of cash borrowed, - - 9,024 00 ���$143,238 00 Cr. By payment of notes held by Shoe & Leather �Bank, ... - $12,113 00 �By payment of 15 per cent, on other notes �of Hamill, .... 12,871 34 ���$24,984 34 Balance due from Holmes & Lissburger to �Hamill, ..... $118,253 66 ����