Collett v. Bronx Nat. Bank

HAZED, District Judge.

The bankrupt, Charles Belling, on November 16, 1910, was indebted to the Bronx National Bank, on his promissory notes and for conversion, in an amount exceeding $1,400. He was accused of forging a certificate of the defendant’s stock, and on discovery was arrested. On November 17th, following the arrest, the cashier of the bank, one Harry Kolbe, at the request of the bankrupt,, the vice president of the bank, paid .$1,400 owing by him to the bankrupt by applying it pro tanto upon the latter’s indebtednesses to the bank. Was such payment a voidable preference, within the…