Thomason v. Shaw

BRYAN, Circuit Judge.

Appellee Shaw was adjudged a bankrupt on his voluntary petition. His debts amounted to more than $50,000, and his assets consisted almost entirely of four city lots in the city of Brownwood, Tex. On two adjoining lots, one acquired in 1920 and the other in 1922, he established his place of residence and has since continued to live upon them. In 1920 he purchased a lot in the business district upon which was located a brick building. On this lot he established a laundry business and added machinery at an original cost of $50,-000. In 1926 he purchased a lot adjoining the…