Democratic Sentinel, Volume 2, Number 8, Rensselaer, Jasper County, 5 April 1878 — Interesting Decision. [ARTICLE]

Interesting Decision.

An officer of an insolvent corporation in Missouri bought up a considerable number of claims against it at a discount. He then tried to prove them against the company in bankruptcy on his own individual account and for their full face value. The United States District Court at St. Louis has very properly refused to allow this. The officer is a trustee, and Judge Treat holds that he cannot be permitted to speculate with the subject of his trust. The claims were recognized as vali l in his hands only to the extent of the amounts he actually paid for them.