.........

$. and a large supply of material. I also learned that the company had been accustomed to obtain advances upon all its invoices and that almost all of the accounts due the company had been assigned. for these advances. That upwards of $...... of book accounts had been so assigned and no estimate could be then formed as to what, if any, equity the alleged bankrupt might have in said accounts.

I finally decided that it would be of advantage to the estate to apply for an order authorizing me as receiver to continue the business for a period of twenty days, with leave to apply for a further extension, if desirable. I directed the custodian to take an inventory of all the property and sent all of the outstanding insurance policies to the various companies for transfer of interest.

2. On ... 19..., I obtained an order allowing me to continue the business for a period of ........ days. I called an informal meeting of the creditors to meet at the bankrupt's premises, attended at the said meeting and remained in consultation with the attorneys and creditors for a considerable period. Also had consultation with the attorneys for the bankrupt company and .... attorneys for creditors. I made a careful examination of the stock on hand and of the books, employed an expert accountant and obtained a general idea of the condition of the business. Revised and reduced. the payroll as much as possible. I made arrangements with a number of supply houses to sell goods on credit and had various interviews with credit men.

[Insert any additional or special allegations as to services; etc.] On ... 19..., I obtained the consents of creditors representing a majority in amount of claims, for an order extending my time to run the business for an additional twenty days, inasmuch as there were a large number of unfilled orders yet on hand and an order was signed to that effect. Subsequently I verified a petition for the appointment of appraisers and for a sale. On .... 19..., an informal meeting of creditors was held on the bankrupt's premises, for which I prepared a detailed statement of the general condition of the business.

That in carrying on the business of the bankrupt company it was necessary for me to devote a large amount of time to the details of the said business and to visit the premises of the bankrupt frequently. That I employed about persons, including the factory,

office and sales departments and the weekly payroll averaged $.... to $....... That at the time I commenced to carry on the business, there were about $....

obtained about $..

VOL. III-8

in orders on hand and I subsequently additional orders. That as receiver I

purchased merchandise and supplies, amounting to about $.. as shown in Schedule B, hereto annexed.

I, manufactured, filled and shipped all of the orders above mentioned, which were deemed profitable to fill. Annexed hereto is my verified account as receiver, showing receipts and disbursements in the conduct of the business. The merchandise and plant were sold at public auction pursuant to order of this court.

I have received no compensation for my services as receiver and in conducting the business of the bankrupt under the order of this court and I hereby state my statutory compensation at the sum of $......

Wherefore, I respectfully pray that my said account be passed as filed, that suitable allowances be made to ..

my

attorneys and to the duly appointed appraisers and compensation by way of commission to myself as receiver, and for carrying on the business of said bankrupt, and that I be discharged as receiver herein. All of which is respectfully submitted.

Dated

19...

Receiver.

Cross-reference. See § 2, Vol. I, ante.

Form No. 140

RECEIVER'S ACCOUNT AND OATH TO SAME

(Hagar and Alexander's Bankruptcy Forms [2d Ed.], No. 76.)

United States District Court,

and makes oath and says he was on the ........ day of 19..., appointed receiver of the estate and effects of the above named bankrupt; that as such receiver he has conducted the administration of the estate; that the account hereto annexed, containing ... sheets of paper, subscribed by him is true, and such account contains entries of every sum of money received by the said receiver on account of the estate of the above named bankrupt, and that the payments purporting in such account to have been made by such receiver, have been so made by him, and he, asks to be allowed for such payments and expenses as charged in said account.

Subscribed and sworn to before me at the City of

Cross-references.- See §§ 2, 48 and 72, ante. Also local rules in bankruptcy, Vol. IV, post.

A receiver will be allowed appraisers' fees paid by him, although trustee dissatisfied therewith has a new appraisal made.

In re Kyte, 19 Am. B. R. 768, 158 Fed. 121.

Insurance premiums allowed.. In re Kyte (supra).

Surcharging account.

Account should not be surcharged with losses on sales during continuance of business under order.

In re Isaacson (C. C. A., 2d Cir.), 23 Am. B. R. 98, 174 Fed. 406, 98 C. C. A. 614.

In re Schoenfeld et al. (C. C. A., 3d Cir.), 25 Am. B. R. 748, 183 Fed. 219, 105 C. C. A. 481.

Compensation of receiver.-[See §§ 48 and 72, ante.]

In re Ginsburg, 31 Am. B. R. 240, 208 Fed. 160.

In re Metropolitan Motor Car Co. (D. C., Wash.), 35 Am. B. R. 539, 225 Fed. 274.

In re Chas. Knosher & Co. (C. C. A., 9th Cir.), 28 Am. B. R. 747, 197 Fed. 136, 116 C. C. A. 560.

In re Falkenberg, 30 Am. B. R. 718, 206 Fed. 835.

When denied compensation.

In re Desrochers (D. C., N. Y.), 25 Am. B. R. 703, 183 Fed. 991.

In re Schoenfeld et al. (C. C. A., 3d Cir.), (supra).

In re Oshwitz & Feldstein (D. C., N. Y.), 25 Am. B. R. 594, 183 Fed. 990.

In re Tisch, 29 Am. B. R. 339, 202 Fed. 1018.

Compensation of receivers prior to amendment of 1910.

In re Sully, 13 Am. B. R. 22, 133 Fed. 997.

In re Adams Sartorial Co., 4 Am. B. R. 107, 101 Fed. 215.

In re Kelly Dry Goods Co., 4 Am. B. R. 528, 102 Fed. 747.

In re Scott, 3 Am. B. R. 625, 99 Fed. 607.

In re T. E. Hill Co. (Bither v. Coleman) (C. C. A., 7th Cir.), 20 Am. B. R. 73, 159 Fed. 73, 86 C. C. A. 263.

Contra. In re Cambridge Lumber Co., 14 Am. B. R. 168, 136 Fed. 983.

In re Richards (D. C., Mass.), 11 Am. B. R. 581, 127 Fed. 77.

See In re Mammoth Pine Lumber Co., 8 Am. B. R. 651, 116 Fed. 731. Dunlap Hardware Co. v. Huddleston (C. C. A., 5th Cir.), 21 Am. B. R. 731, 167 Fed. 433, 93 C. C. A. 69.

Compensation for continuing bankrupt's business.

In re Kirkpatrick (C. C. A., 6th Cir.), 17 Am. B. R. 594, 148 Fed. 811, 78 C. C. A. 501; In re Borgenson Co., 18 Am. B. R. 178, 151 Fed. 780; In re Sully (D. C., N. Y.), (supra).

See contra In re Cambridge Lumber Co. (D. C., Mass.), (supra); In re Richards (D. C., Mass.), (supra).

Petitioning creditors may be charged upon dismissal of an involuntary petition with receiver's fees, cost and expenses.

In re Lavoc (C. C. A., 2d Cir.), 15 Am. B. R. 290, 142 Fed. 960, 74 C. C. A. 130; Beach v. Macon Grocery Co. (C. C. A., 5th Cir.), 8 Am. B. R. 751, 116 Fed. 143, 53 C. C. A. 463.

In re T. E. Hill Co. (C. C. A., 7th Cir.), 20 Am. B. R. 73, 159 Fed. 73, 8G C. C. A. 263.

In re Chas. W. Aschenbach Co. (C. C. A., 2d Cir.), 25 Am. B. R. 502, 183 Fed. 305, 105 C. C. A. 517.

Compensation of, when petition has been dismissed.

Authority to compensate passed to court making the adjudication.

In re Sears Humbert and Co., 10 Am. B. R. 389.

When proceeding is removed to another district, the court originally appointing the receiver should fix his compensation.

In re Isaacson (C. C. A., 2d Cir.), 23 Am. B. R. 98, 174 Fed. 406, 98 C. C. A. 614.

Upon dismissal of petition.

Payment of expenses incurred by a receiver appointed by District Court will not be directed to be paid out of the property of the corporation coming into his hands in the absence of evidence showing that such appointment was "absolutely necessary for the preservation of the estate."

In re Wentworth Lunch Co. (C. C. A., 2d Cir.), 27 Am. B. R. 515, 191 Fed. 821, 112 C. C. A. 335, revg. s. c. 25 Am. B. R. 612, 189 Fed. 831.

When notice of hearing to fix allowance is not defective.

In re Franklin Sugar Refining Co. (C. C. A., 2d Cir.), 31 Am. B. R. 709, 210 Fed. 24, 126 C. C. A. 604.

Form No. 141

NOTICE OF HEARING UPON RECEIVER'S ACCOUNTS BEFORE MASTER

(Hagar and Alexander's Bankruptcy Forms [2d Ed.], No. 77.)

United States District Court,

.. District of

IN THE MATTER OF

In Bankruptcy No.

Bankrupt.

SIR:

Please to take notice that the report and account of... receiver herein, and the application for an allowance of.. attorneys for the receiver, and of ...

attorney for the petitioning creditors, and of the appraisers herein, were this day duly filed in the office of the clerk of this court, and have been duly referred to as Special Master (or Referee), for examination, testimony and report, and that a hearing will be had thereon before as such Special Master (or Referee),