In re Smith

HARRY E. WATKINS, District Judge.

R. R. Smith was adjudged bankrupt on December 23, 1931, in an involuntary proceeding commenced November 30, 1931. Certain bonds of the Columbia Gas & Electric Company of the par value of $72,-000 came into the custody of the trustee. The Union Trust Company of Maryland, hereinafter called the trust company, filed its petition asking that these bonds be turned over to it to be sold, or, in the alternative, that they be sold by the trustee, and, in either event, that the proceeds of sale be applied to a note of $72,000 held by the trust company against Smith.…