Wiegand v. Albert Lewis Lumber & Mfg. Co.

GRAY; Circuit Judge.

This is an appeal from an order of the District Court, sitting in bankruptcy, for the Middle District of Pennsylvania, whereby the purchasers of the bankrupt’s real estate, the holders of certain first-mortgage bonds of the said bankrupt corporation, were not permitted to deposit said bonds with the trustee, and receive credit therefor on the balance of the purchase money due.

The order of sale made by the referee set forth the following terms:

“Terms of sale to be $2,000 down on day of sale, and the balance on confirmation of sale and delivery of deed; and in case a lienor…