Page:Federal Reporter, 1st Series, Volume 2.djvu/315

 308 FEDERAL REPORÏER. �over to the said Henry Corse, Jr., by deponent, and by fîie executors of deponent 's father's estate, with deponent's con- sent, being in part the interest of deponent in said estate, and for moneys lent and advanced to said Henry Corse, Jr., by deponent. Tiae above amount includes principal and interest to the date of filing the petition. Several creditors object to the proof on the grounds — (1) that the transaction out of ■which the claim grew was a gift from the claimant to the bankrupt; (2) that it is barred by the statute of limitations; and (3) that it bas been wholly paid and satisfied. �The point most strenuously insisted upon on the argument ■was that the husband received the real estate and other prop- erty as trustee, having been substituted for the executors, under the will of his wife's fafcher, by the concurring action of the executors, the wife and himself ; that the personal prop- erty bas been ail invested in improvements upon the real estate, and that the real estate was afterwards transferred to the wife, whereby the trust under which the property was held was fuUy performed, and that in this way the claim bas been satisfied and paid, or that the personal property, with her consent, has been expended on the land and the whole conveyed to her. While this position' was not taken at the outset as the objection, but payment simply was alleged, yet the point has been argued as if there was no formai ob- jection to the contesting creditors resting their defence to the proof of debt on this ground, and I have examined it upon the merits. �The wife of the bankrupt was the daughter ot Samuel Enapp, of Haverstraw, who died, leaving a will dated February 18, 1869. He left one son and one daughter, who intermarried with the bankrupt February 2, 1865, At the time of her marriage she was a little over 18 years of age. By the will the residue of the estate was equally divided between testa- tor's son and daughter. The executors were appointed guard- ians of the children, and by the terms of the will the execu- tors were made trustees of the daughter's half till her marriage, or until she should arrive at the age of 21 years. As to the continuance of this trust after that time it was left to tiie ����