Equitable Trust Co. of NY v. First Nat. Bank of Trinidad

*365Mr. Justice Holmes

delivered the'opinion of the Court.

Knauth, Nachod and Kuhne being in bankruptcy, the respondent, The" First National Bank of Trinidad, Colorado, claimed, priority in respect of certain funds collected by the trustee in bankruptcy, the petitioner, from the Banca Commerciale Italiana; the ground of the claim being that these funds were charged with a trust in the hands of the Italian bank. The respondent prevailed in' the Circuit Court of Appeals. 13, F. (2d) 732. A writ of certiorari was granted by this Court. 273. U. S. 684.

The facts are as follows. The bankrupts had credit’…