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4 MoorsD po.sr The question abe.
,ber the general Bankrupt Law apple,
10 persons owing debts in fdociary
character-or, rather, whether it ab.
solves them from debts owed in fdu.
ciary capacity appears to be point
upon which our learned Doctors Of the
Law cannot come 10 an unanimous is.
cision. Mr.. Justice Daniel, of virgin
"a ia a recent case, held that person
who owes fiduciary debts IS not entitled
10 the benefit of the Bankrupt act, and
Il moi within the scope Of its provisions
and could not be declared bank roD, 8
long as be remains 10 that pfedicameDt
NJ. Justice M'Lean, Of Ohio, holds thar
no relief can, under the bankrupt act
be given against fduciary debt. gr.
| Justice Thompson, Of New York. holds.
fst, that the existence Of fduciary
debt does not preclude the party from
! taking the benefit Of the bankrupt act 4,
/ 10 ali other debts. Cd. That the bank


rupt act being intended fOr the benefitof
| creditors, a .fiduciary creditor is no.


bound 10 come in and take his dividend


under the act, but he has an election %


do so If be chooses. Sd. That unless
s


The fduciary creditor does not elect to


come in under the bankruptcy, his deh


IS not discharged thereby, bul that the


bankrupt IS or may be entitled 10 dis.
i charge from all other debts. Ina case


which came before him last week, Mr..


Justice Story, Of Massachusetts, gave his


opinion that the existence Of fiduciary


debts, owing by the petitioner, cons;ita.


ted no positive incapacity Of valid objec.
ton 10 his being declared a bankrupt,


and obtaining the benefit Of the act, if
he owes other debts, not Of fiduciary
character. The Supreme Court Of the
{ u. States will have TO settle this moOisd
point.