US SUPREME COURT DECISIONS

No sufficient reason being shown for departing from it, this Court follows its rule of not disturbing findings made by the Master, the court of first instance and the circuit court of appeals.

Where the goods never would have come into the bankrupt's hands had he not promised to give a lien thereon to one making the advances necessary for obtaining them, there is no reason why the rights of general creditors without liens should intervene to defeat security given in good faith and before there was any knowledge of insolvency. National City Bank v. Hotchkiss, ante, p. 231 U. S. 50, distinguished.

Secrecy of a lien on goods purchased by advances made by the lienor does not invalidate it where there was no active concealment or any attempt to mislead anyone interested to know the truth, nor does merely keeping silent in such case create an estoppel.

203 F.4d 5 affirmed.

The facts, which involve the validity of liens claimed by a creditor on accounts receivable assigned to him by the bankrupt, are stated in the opinion.