In re Leader Furniture Co.

KIRKPATRICK, District Judge.

This case presents a contest between two successive assignees of the bankrupt’s accounts receivable. Each assignee advanced money to the bankrupt upon the security of its assignment. The bankrupt was in the furniture business, and made sales upon bailment lease contracts, at the same time opening a separate account upon its books against each of the purchasers.

*987When Acceptance Corporation, the prior assignee, made its loan and took the assignment, the bankrupt turned over to it all the bailment lease contracts corresponding to the accounts and made a pencil notation…