Page:Federal Reporter, 1st Series, Volume 10.djvu/844

832 FEDERAL UEPOjBTEB. �3. CRBMTOnS, WHEIf NOT BOUND. �Non-assenting creditors, not present at the time the deed of trust was exe- cuSed, are in no way bound by the agreement of the assenting creditera to the release of a portion of their debts, in an assigament made bj the debtor for their beneiit. �HiLii, D. J, This bill was filed by complainant against defendants and others, creditors of Abernathy & McCarley, in the chancery court of Chickasaw county, for the purpose of enjoining the defend- ants as creditors from proceeding by attachment to recover their debts ont of the property conveyed by said debtors to complainant by trust deed exhibited with the bill. An injunction as prayed for ■was granted by the circuit judge of said district. The cause is re- moved to this court under the act of congress of 1876. The defend- ants Vaiden Hawkins & Eoberts sued out an attachment against said Abernathy & McCarley in the circuit court of Chickasaw county, which had also been removed to this court, and is now pending. Said Vaiden, Hawkins & Eoberts move in this court to dissolve said in- junction so far as it relates to those attachment suits against said Abernathy & McCarley, upon the ground as alleged that, as to them, the assignment under which complainant holds is fraudulent and void. And this is the only question now presented for decision. �The provisions of the trust deed which it is alleged renders it fraud- ulent and void, are those relating to the order of distribution of the assets of said assigned property, and the conditions annexed to its reception by creditors. The trustee is directed — First, to pay all the costs and expenses of executing the trust ; secondly, a note executed by the grantors to their attorneys for |500; thirdly, to pay to all the creditors who might apply within 30 days, 33^ per cent, on their debts, provided they would release the balance of their demands; fourthly, to pay all other creditors who should apply within 60 days after said assignment was made, the amount due then in full, if there should be money sufficient for that purpose, and if not, then a pro rata share to each, provided they should release the remainder of their debts, if any ; Jifthly, to all other creditors the amount due them, and of any surplus which might remain after the before-men- tioned payments. �The Bchedule annexed to the trust deed, and which, for the consid- eration of the question now for decision, may be regarded as part of the eonveyance, states the liabilities at $13,566.4-0, and the assets at $9,552.90; but in these estimates are embraced cotton in the hands of Vaiden, Hawkins & Eoberts, estimated at $480, and in the hands ��� �