The Bismarck tribune., 1929-02-25

urc is Dino Gandi. Under Secretary OF
was no abuse of discretion and nc
prejudicial error on account of rul-
ings on the admission or rejection
of testimony.
(Syllabus)
Appeal from the District Court of
Stutsman County, Hon. Fred Jan
sonius. Judge. The defendants were
convicted on charge of grand lar
ceny. From the judgment Of convic-
tion and from the order of the Dis
trict Court denying their motion for
new trial. defendants appeal.
AFFIRMED. Opinion of the Court
by Nuessle, j., Russell D. Chase,
| states attorney, and H. E. Rutgers.
assistant states attorney, both of
jamestown, attorneys for plaintiff
and respondent, Knauf & Knauf, of
jamestown, attorneys for defend
ants and appellants.
James Hart. Trustee of the Estate
Of Edward J. Curtin. bankrupt,
Plaintiff and Respondent
c. J. Weiser, ct al,
Defendants
c. j. Weiser. II. A. Engbertson and
l.. B. Whitney, trustees,
Defendants and Appellants
(D Following Hart v. Casterton,
Sc N. D. 581, 21S N. w. GA, it is
held that the mere failure to record
an instrument given prior to the
four-months period preceding bank
ruptcy and its later recordation
within the four-month period does
not result in a preference, within
the contemplation of Section Goa Of
the National Bankruptcy Act, as
amended.
(2) 1t is held on the record, as a
matter of fact. that a mortgage
which was forecloscd in the name Of
an officer of a bank and which rip
ened into title was the property of
the bank.
(3) Where, following the closing
of bank upon its insolvency, the
remaining banks and the depositors
in the failed bank entered into a
arrangement whereby part of the
deposit liability was assumed by
going bank, in consideration of the
transfer to it of certain assets and
the transfer of the remaining assets
to trustees to be administered as
trust for the depositors waving
rights and the remaining banks
making contributions of cash to the
trust estate, transfer of assets in
pursuance of the trust agreement is
transfer for value.
(4) Where an owner had ne
elected to place of record the instru-
ments evidencing its title, such con-
veyances, under Section 1894 of the
Compiled Laws of 1913, being void
only as against subsequent pur-
chasers in good faith and for valu-
able consideration or against any
attachment levied thereon or any
judgment lawfully obtained, and
where third party had sought to
attach the property as belonging to
the one in whose name it stood of
record but such attachment was dis
missed, a recorded notice of levy is
not notice of any special cquity in
favor Of the attaching creditor and
does not charge creditors of the true
owner, or others dealing with him,
with notice of such special equities.
(5) Where legal title to prop
crty is acquired in good faith, with
out notice OF outstanding prior equit-
les and for value, the one so ac-
quiring it will hold it free of out
standing equities in favor of the
third parties Of which he had no no.
tice.
(Syllabus by the court)
Appeal from the District Court of
Golden Valley County, Hon. F. T.
Lembke, Judge.
REVERSED AND REMANDED
Opinion of the court by Birdzell,
J. Theodore B. Torkelson, of Bow
man, and Lawrence, Murphy &
Miles, Of Fargo, attorneys for ap-
pellants.
John Keohane, and Albert M.
Kuhfeld, of Beach, attorneys for Re-
spondent.
Mrs. Bertha Parrish,
Plaintiff and Respondent
Menu School District No. s, Sioux
County,
North Dakota, q corporation, ct al,
Defendants and Appellants
az The acceptance by the clerk
Of the district court Of the personal