In re Surety Guarantee & Trust Co.
Court of Appeals for the Seventh Circuit
Petition for Revision of Proceedings of the District Court of the United States for the Northern District of Illinois in Bankruptcy. This is an original petition, filed in this court by the Surety Guarantee & Trust Company, pursuant to section 24b of the bankruptcy act (Act July 1, 1898, c. 541, 30 Stat. 553 [U. S. Comp.
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Petition for Revision of Proceedings of the District Court of the United States for the Northern District of Illinois in Bankruptcy. This is an original petition, filed in this court by the Surety Guarantee & Trust Company, pursuant to section 24b of the bankruptcy act (Act July 1, 1898, c. 541, 30 Stat. 553 [U. S. Comp. St. 1901, p. 3432]), to review the action of the District Court of the United States for the Northern District of Illinois, sitting in bankruptcy, in overruling the demurrer of the petitioner to an amended petition filed by certain of its creditors for its adjudication as a…
1Opinion of the CourtJenkins, Circuit Judge
The demurrer presents two questions: (i) Can an incorporated company be a “private banker” within the intendment of the bankruptcy act? and (2) Is the buying and selling of stocks, bonds, and other securities a “trading pursuit” within the meaning of the act?
The bankruptcy act (30 Stat. c. 541, § 4b [U. S. Comp. St. 1901, p. 3423]) provides:
“Any natural person, except a wage earner or a person engaged chiefly in farming or the tillage of the soil, any unincorporated company, and any corporation engaged principally in manufacturing, trading, printing, publishing, or mercantile pursuits, owing…
2Cases cited18 opinions
- Bank of Augusta v. EarleSupreme Court of the United States · 1839
- In re New York & W. Water Co.District Court, S.D. New York · 1900
- Perkins v. . SmithNew York Court of Appeals · 1889
- State ex rel. Goodsill v. WoodmanseeNorth Dakota Supreme Court · 1890
- State v. ScougalSouth Dakota Supreme Court · 1892
13 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Woolsey v. Security Trust Co.Court of Appeals for the Fifth Circuit · 1934
- United States Hotel Co. v. NilesCourt of Appeals for the Sixth Circuit · 1904
- In re H. J. Quimby Freight Forwarding Co.District Court, D. Massachusetts · 1903
- In re Wentworth Lunch Co.Court of Appeals for the Second Circuit · 1908
- In re New York Building-Loan Banking Co.District Court, S.D. New York · 1904
10 more not listed; retrieve them via the Exa API.