Page:Federal Reporter, 1st Series, Volume 6.djvu/719

 IN RE MICHEL, 707 �On the thirtieth of October, 1877, the usual injunotion against interfering with the bankrupts' property, except to preserve the same, was issued by this court, and was served on the sherifF on the thirty-first of October, 1877, but before the service of the injunction an execution was issued in the suit of Hellman and put in the hands of the sheriff. On the : twelfth of January, 1878, an' order was entered modifying the injunction "so as not to restrain the sheriff from selling the property in his possession, provided that he shall deposit the proceeds of such sale in the United States Trust Comp- pany, subject to the further order of this court." This order was entered upon the consent of the petitioning creditors, the alleged bankrupts, and of the creditors claiming liens by exe- cution and attachment on the said property. The sheriff proceeded to sell the property as allowed bythe order, having first received a paper, signed by ail the parties who had con- sented to the entry of the above order, in the following form : "We hereby severally request the sheriff to sell the property levied upon by him, and referred to in the foregoing order, and hereby waive the deposit of the proceeds of such sale in the United States Trust Company, as therein provided." The amount realized by the sheriff was $1,526.30. On the fifteenth of March, 1878, or very soon thereafter, the sheriff was served with a copy of the final order in composition, and thereupon, nnder advice of counsel that the final order in com- position was, in legal effeot, the setting aside of the injunc- tion, and left him at liberty to apply the money in his hands to the satisfaction of the executions held by him against the bankrupt, he paid to the assignee of one Wallach, the earliest execution creditor, $116.30; to said Hellman, in satisfaction of his judgment, $596.16; and the balance he kept for his own fees and charges. �The composition was for 40 cents on the dollar, payable in equal instalments, in three, six, and nine months, for which security was given in the notes of the bankrupts with in- dorsers. The creditor Hellman was bound by the composi- tion agreement. �On the twelfth of October, 1878, upon the proof that the ��� �