Jasper County Democrat, Volume 10, Number 33, Rensselaer, Jasper County, 16 November 1907 — DECIDED AGAINST TRUSTEE. [ARTICLE]

DECIDED AGAINST TRUSTEE.

TheU. 8. supreme court has decided the A.T. Bowen case against J. H. Chapman, trustee of the Defunct McCoy sheepskin bank. This case is familiar to most of our readers. Bowen, a New York . banker,., held two $5,000 notes signed by the McCoys as a banking firm and also as individuals. This, it was held by the court of appeals, rendered them in the nature of personal obligations also, and olaims against their personal estates as well as against the bank estate, giving them a much greater per cent than the ordinary creditor of the bank. There were about $25,000 in precisely the same kind of notes held by Lafayette bankers who did not appeal from the first ruling, which was against them,' and if they now ask for and are granted a re-opening of the case by Judge Anderson they will also come in for some 70 per cent of the balance which the bank estate lacked of paying out. This will be against the personal estates of the MoCoys, of course.