The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-12-21
2 Tns Orr; 81; s;st;s. t;ssf. sST1N,ioisI q - BxNx Tar

THs. q U1ias4sas ! i astsf ttIsf sST1Ns;ois /; s. BxxxTTIr
PETITION FOR REyiKYs, DISMISSED AND
THE DKoRRE Arp IHJuNuTIoN OF JuDas
BRYAN AFFIRMED.--Jadge Bond, on
Friday. filed the folio wing opinion in
tae case of John L.. Watson vs. the Ci,i.
zens' Savings Bank. It will be seen thst
the decree of Judge Bryan, in the
United States Bankruptcy Court, is af-
hrmed, the Circuit Court deciding that
the jurisdiction Of the Uuited States
Court in bankruptcy is exclusive, and
the petiiiou fUr review is therefore dis
missed. From this decision, there is no
appeal, and the affairs Of the bauk will
go regularly through the United States
Bankrupt Court. aud its assets be admi.
nlstered bJ on assignee appointed BY
that court:
In the matter Of j. L. Wukson vs. the
Citizens Sduings Bank Of South Caro-.
ina.-In Circuit Court-Pe.ition for
ReDieD isSBankruptcy.
This cause having been preseutel an
argued on the last days OF the term, We
are allowed no time to file an opinion in
writing. aud will only state briefly the
conclusions to which We have come. and
which we think are decisions of the case: :
l. We are of tho opinion that the ju-
risdictiop of the United States Courts in
bankruptcy is all exclusive jurisdiction.
q. That, although the State Courts
nave Jurisdiction, under their stat tee,
to settle and arrange the affairs aud dis
tribute the assets Of an insolvent oorpo.
ration. their Jurisdiction il at an end
the moment The corporation is adj udi-
Gated bankrupt by the District Court,
and, IN this respect, we can see no diff
ference between the proceedings Of
state Court under n particular statute
relating to insolvent corporations and
Its proceedings under its general powers
as Court of Equity to wind up the
affairs Of an insolvcnt corporation.
81. That We are of opinion that The
Act Of Congress of Februury ID, 1873.
relates only to such orders relating to
the ratable distribution or payment of
dividends as tho State Courts may have
passed prior TO the commencement of
proceedings in the District Courts, or
prior to its adjudication in bankruptcy,
to the rafnble distribution or puymout
OF dividends.
1t seems to the Court plain, also, that
no question OF comfy betwee Courts
can arise in this oase. for, aside from
the numerous decisions quoted in arga-
! nent determining the exclusive juris-
diction of the United States Courts in
Bankruptcy, tho Act of February 13,
1873. renders the matter certain, for
Congress- would never have directed the
Bankrupt Court to obey auy orders
passed by State Court, prior to its
decree in bankruptcy. if lhe Bankrupt
Court could take no Jurisdiction of an
insolvtne corporations II affairs, utter bill
hled Ia q State Court. to wind up their
, uffairs.
In this case there has been no order
OF State Court respecting payment or
distribution. There has been no re-
oeiver appointed to tuke possession of
the effects OF the insolvent corporation.
The court has required the officers OF
the company to remain in possession
and make no transfer; they have not 80
made transfer; the transfer was by cpe-
ration Of law, upon the application for
the benefit of the bankrupt Act to the
District Court. We do not think a
State Cont can. by any process. pre-
vent purity from applying to the Dis.
trict Court for tho benefit of the pro.
visions OF The bankrupt Inv. We think
the objection, that the Injunction against
Watson. a creditor of the bankrupt, was
inprovidently issued brcause he was not
purity to the petition in bankruptcy,
| ls not well taken. Al! the creditors OF
nkrnpt nse parties to the proceed
ings, especinliy 80 far Us an order for the
preservation uf The assets are concerned
For these and other rensnus, WHICH we
have not time tn note, much lest 10 en-
large upon. thi, petition must bs dis.
missed. HI. BOND
| .
In the good city Of Chicago, Just
about thirteen years ago, two adven-
turous gentlemen ant down at table
for the purpose Of indulgiug for tho
nonce in the classic game OF draw poker.
OF the two gentleman. Mr. Maher ap-
pears to have boen in privntc life, but
Mr.. Farwell was und is II member of
Congress. and as might have been ex-
pected his opponents pocket book ere
long became atypo Of constuncy. aud
might have sung, could it have taken
~ voice, "Yonll find no change in me. "
The fact is, Mr.. Maher held mot wise
ly. bnt too we'll" He Lad IL queen full
on aces, nnd that led iim on, bu, the
Hon. f.. NJ. O., held king full on
trnys. The consequence was little
~