Swarts v. Hammer

CALDWELL, Circuit Judge.

Solomon L. Swarts, as trustee in bankruptcy of the Siegel-Hillman. Dry Goods Company, had in his hands as such trustee the sum of $68,320 belonging to the bankrupt estate, which sum was deposited to the credit of the trustee in the designated depository of the court. This money was so held by the trustee at the time appointed by the law- of the state for the assessment of moneys and other personal property,- and was duly assessed to the trustee. The trustee refused to pay the tax on this money in his hands, claiming that the bankrupt law exempted it from taxation. The…