In re Ellerhorst

HOFFMAN, District Judge.

A debt was-proved in this case by the Bank of British North America against the estate of the-above bankrupts, on a note made by the bankrupts and endorsed by Sheldon, Davis- & Co. At the time the proof was made, no part of the note had been paid by either the makers or endorsers. Subsequently,, however, the endorsers paid to the holder sixty-two per cent, of the amount due, and were released by the holder from the further liability.

It is contended by the assignee that the-holder is entitled to be paid a dividend, not on the whole debt proved by him, but only on the…