In Re Lambert &. Braceland Co.

KIRKPATRICK, District Judge.

The question here is as to the right of a creditor holding an assignment of-accounts receivable under an assignment which provides for the substitution of other accounts, executed more than four months before the bankruptcy, to hold against the trustee in bankruptcy the proceeds of accounts substituted by the assignor a few days before the bankruptcy.

The faets are as follows: More than four months prior to the filing of the petition, Salomon, the claimant, advanced $5,000 to the subsequently bankrupt corporation and took as collateral security an assignment in…