Frank v. Salm

EVANS, Circuit Judge.

The single question presented by this appeal may be stated thus:

Do funds deposited by a trustee of a bankrupt estate in á depository national bank create the relation of debtor and creditor so that, upon the bank’s becoming in-,, solvent and liquidation by the Comptroller of Currency becoming necessary, the trustee is paid on the same basis as other depositors ?

Appellant contends that ..the designated depository is an arm of the court; that it is an agent of the court; that it accepts funds from the trustee charged with the knowledge that his title thereto can be divested…