Page:Federal Reporter, 1st Series, Volume 6.djvu/20

 8 rEDKBAL REPORTES. �Enpposed to be dead, against Harry E. Dodge, executor ot Edward Dodge, for the purpose of charging the estate of Edward Dodge with the amount of certain deposits of money made by David Eegester in the year 1869 with the firm of Jay Coqke & Co., of Philadelphia, of which firm Edward Dodge was then a member. �The material facts are as followB : �At the time of the deposits in question the banking firm of Jay Cooke & Co,, of Philadelphia, was composed of William G. Morehead, Henry D. Cooke, Pitt Cooke, George 0. Thomas, Harry C. Fahnestock, John W. Sexton, and Edward Dodge. This firm dissolved January 1, 1871. John W. Sexton and Edward Dodge then retired from the business, and a new firm was formed, consisting of the remaining membera of the old firm, and two new members, Jay Cooke, Jr. and James A. Carhart. The new firm succeeded to the business of the old firm, the account with the retiring members was made up and settled, and the new firm then assumed ail the obliga- tions of the old firm, and agreed. that the liability of the retiring members therefor should be termina ted. �The new firm continued business until November 26, 1873, when it was adjudged bankrupt. Among the debts of the new firm, pubUshed in the bankruptcy prooeedings of that firm, was the debt here sued on. In June, 1873, this debt was, without objection, proved as a debt of the new firm in the bankruptcy proceeding of that firm by the representative of David Kegester. �Upon this debt so proved dividends wore from time to time declared out of the assets of the new firm of Jay Cooke & Co., and the same received by the representative of David Eegester. In the year 1879 the estate of the new firm waa wound up under the direction of trustees, in accordance with the provisions of the bankrupt law, and the stocks then cou' stituting the assets of the new firm were distributed among the creditors of that firm in pursuanoe of a scheme assented to by the creditors. �Edward Dodge died in 1877. During his life-time no claim of liability for the deposits in question was made upon him ��� �