Page:Federal Reporter, 1st Series, Volume 3.djvu/867

 860 FEDERAL REPORTER. �and questions arising under IHe act, except when special pro- vision is otherwise made. 14 St. at Large, 518; Eev. St. § 4986. Both modes of procedure "were adopted by the appel- îants in this case, so that it does not become necessary to decide which is thô more appropriate, as the cause in any view is correctly before the court. �Some years prior to the decree in bankruptcy, the bank- rupt loaned money to the maker of the note in question, which, from time to time, had been renewed and the aniount Bomewhat reduced, until it assumed the form exhibited in the record as f ollows : �"$5,800. Lawrence, March 24, 1877. �"Four monthg after date, I promise to pay to the order of myself five thousand eight hundred dollars ; value received. �"Chables F. Crockeb. �"Indorsed: Charles P. Crockbr. �"G. W. WiLDER. �"George G. Mokeill." �Morrill was an accommodation indorser on the note, which was duly protested. Crocker and Morrill were partners in business, and on the seventh of October, in the same year, the maker of the note transferred ail his iuterest in the firm, of the value of $3,000, to his accommodation indorser, for his security against loss. Pursuant to that arrangement, the transferee agreed in writing, bearing the same date, to hold the maker of the note harmlesa against any and ail claims of the bank, which had become the holder of the same by virtue of the indorsement speoified in the written agreement. 'As the holder of the note, the bank recovered a dividend of 25 per cent., and on the thirteenth of February, 1S78, the transferee of the maker's interest in the said firm paid the remainder of the note to the bank and took it up. Since that time a second dividend, to the amount of 10 per cent., has been deelared, which has never been paid. When the first dividend was paid, the assignees had no notice of the transfer of the maker's interest in the said firm to the accom- modation indorser. Evidence that the accommodation in- ����