Page:Federal Reporter, 1st Series, Volume 2.djvu/573

 566 FEDERAL REPORTER. �Now, the books produced in this hearing by the bankrupt have been at the service of the creditors of the Wilmington EoUing Mill Company, or his individual creditors, since the time of his filing his petition in bankruptcy; and in this con- nection it may be well to give a short statement of the bank- rupt's relations with the company. Finding the business not a remunerative one, they entered into articles of agreement with the bankrupt, the contents of whieh articles of agree- ment, proven by paroi, (they having been lost,) established these facts : The rolling mill company were, by certain trus- tees named in the articles of agreement, to deed the whole real and personal estate of the company, fixtures and appur- tenances, to the bankrupt, on consideration that he would assume one-half of the indebtedness thereof. In pursuanee of this agreement he gave to the trustees of the company his judgment bond for the payment of $37,500, which was duly entered against him; and thereupon he was placed in the possession of the real and personal estate, fixtures, etc., etc., ■with the distinct understanding and agreement between him- self and the trustees of the creditors of the company that if he succeeded in his business, to the extent of paying oflf the indebtedness of $37,500 entered agaïnst him, he was to be entitled to ail the profits over and above that sum he could make, and be absolute owner of the real and personal estate conveyed to him; and also that if, after his best efforts to succeed, he should fail in the business undertaken, he should turn over to the company, and the company should accept, ail the real estate and personal estate they had sold and pos- sessed him of, and should then satisfy the judgment entered against him. �In point of fact, the creditors took out execution on this judgment, and levied on and sold ail the real and personal property they had before transferred to the bankrupt. It is evident to the court that the bankrupt in good faith facili- tated the redelivery of ail the property put into his hands by the company. �So mueh as bearing on the question of books : The company had, of course, a set of books kept in the usu^l manner, and ����