In re Mutual Mercantile Agency

Citations

• 111 F. 152
• 1901 U.S. Dist. LEXIS 67

Syllabus

<p>1. Bankruptcy—Corporations—Mercantile Agency.</p> <p>A corporation organized to “establish, maintain and conduct a gen* eral mercantile agency,” and whose business was gathering information and printing and publishing a book of ratings with respect to the standing of merchants, which it loaned to its subscribers, comes within the provisions of Bankr. Act 1898, § 4b, and may be adjudged an involuntary bankrupt.1</p> <p>2. Same—Acts op Bankruptcy—Written Admission by Corporation.</p> <p>A written admission, signed by the president of a corporation by order of its board of directors, that the corporation is unable to pay its debts, and is willing to be adjudged a bankrupt on that ground, is sufficient to constitute an act of bankruptcy, under Bankr. Act 1898, § 3a, cl. 5, which will authorize its adjudication as an involuntary bankrupt.</p> <p>8. Same—Involuntary Petition—Time por Appearance by Opposing Creditors.</p> <p>Bankr. Act 1898, § 59f, which provides that creditors other'than the original petitioners may at any time enter their appearance and join in the petition, or file an answer and be heard in opposition, does not authorize a creditor to appear and file an answer to an involuntary petition raising new issues after the time fixed for pleading to the petition by section 18b has expired, where such time has not been extended, and the petition has been heard on the issues as then made up.</p>