Page:Federal Reporter, 1st Series, Volume 9.djvu/512

TN BK SHAW. 497 �There is nothing, however, in the evidence, even as it now appears, so far as respects the amount of the bankrupt's estate, which would vary essentially the apparent amount of assets, The sohedules showed about $70,000 estimated assets, of which $68,000 were notes of Smith, secured by the mortgage, being about 30 per cent, on the entire indebtedness ; and that is the amount of dividend which Peyser, the petitioner, testifies Shaw told him the estute would pay. Page 453. The creditors, including the petitioner, with all this in full view, nevertheless voted to accept 15 per cent, cash, and the compo- sition was approved by the court and paid. If any crediter was dis- satisfied, on the ground that the estate would net a sum more nearly approaching to what the sohedules showed, viz., twice the amount offered as a composition, it was his right and his duty to present bis objections at the time. Least of all can a creditor, who, like the petitioner, voted for the composition and received payment with full knowledge of the schedule estimates, and after being told by the bankrupts that the estate would pay 30 per cent., be now heard in Beeking to set the composition aside for mere inadequacy, and because the amount so offered and paid was not as much as the sohedules indicated might have been offered ; and the evidence does not prove any better condition of the assets substantially than the sohedules indicated, if in fact as good. In the ligures exhibited as to the sub- sequent business, no account is taken of expanses. In re Herman, 17 N. B. R. 440; In re Marionneaux, 13 N. B. E. 222. �The only additional ground for setting the composition aside is, as the petition alleges, that two creditors, the Whiting Paper Company and the L. L. Brown Paper Company, fraudulently represented to the petitioner that they were willing to take 15 per cent., whereas they were fraudulently oonspiring to procure the assets for their own use by paying other creditors 15 per cent., in order to make their own debt in full. The evidence fails to establish any such design or resuit, or any case of fraud or conspiracy. Mr. Whiting and Mr. Brown, the active representatives of those -two companies, made no representations of any kind to the petitioner, nor, as appears, to any other creditor, except undertaking to see the composition paid. After the adjudication in bankruptcy, these two companies signed the paper for a voluntary compromise at 15 per cent., which was not acted on because the signatures of some creditors, of whom the peti- tioner was one, could not be and were not obtained. The evidence does not show that anything more than possible proceedings-in tank- v.9,no.8— 32 ��� �