Industrial Bank of Commerce v. Miller

The Industrial Bank of Commerce, a creditor of the bankrupt, objected to the bankrupt’s discharge upon the ground that he had made a materially false statement in writing when obtaining a loan from another creditor, the Employees. Personal Loan Company. The issue is of the bankrupt’s good faith, and the referee found in his favor. One reason for this finding was that the bankrupt had told the creditor, when he borrowed the money, that he wanted it to pay his income tax; and possibly his testimony may be so understood, although all that he actually testified to was that he “wanted” the money…