Merchants’ Bank of Pittsburgh v. Slagle

Christopher Zug and Charles H. Zug, composing the partnership of Zug & Co., were, on their own petition of May 11,1876, declared bankrupts by the District Court for the Western District of Pennsylvania.

At the first meeting of the creditors, Slagle and Miller were appointed trustees, and Smith, Dunlap, and Clarke a committee of creditors, under sect. 5103 of the Revised Statutes. This action of the creditors was duly approved by an order of the District Court;

' The trustees disposed of the property of the bankrupts, of which the Sable Iron Works, sold for $130,000, constituted the principal…