Amendment of section 60 (a) has cleared up the matter. By sec. 3 (b) where such transfer is an act of bankruptcy, the creditor may file his petition at any time within four months after the recording of the transfer "if by law such recording or registering is required or permitted." But after the bankrupt has thereby been thrown into bankruptcy, the trustee, under sec. 60 (b), has had no power to recover the property so transferred if he sought to proceed within four months of the recording in a jurisdiction where such recording was not required but was merely permitted.14 The Bankruptcy Committee believed that the four months' period during which the trustee might recover the preference should begin to run when such recording is permitted as well as when it is required.15 They, therefore, added the words, "or permitted" to sec. 60 (a), which defines a preference. They did not add the words "or permitted" after the word "required" in sec. 60 (b) which is the section from which the trustee gets his power to recover property transferred by way of such preference. Does this omission leave the Committee's object largely unrealized, for the reason that it merely enlarges the definition of a preference, without enlarging correspondingly the power of the trustee to set aside such a preference? It is sometimes stated that sec. 60 (a) and sec. 60 (b) are to be read together, but it would be difficult to say that such an interpretation on this point is supported by the weight of authority.

The Amendatory Act was approved May 27, 1926, and by its terms went into effect on August 27, 1926. It readily appears that many of the amendments are improvements of the Bankruptcy Act. Some of the amendments proposed by the American Bar Association committee which deserved enactment as proposed, did not pass. And some of the Amendments will require interpretation by the courts before we know their effect.

The 1926 Amendments are remarkable in several respects. They check the under-current in Congress in favor of repealing the entire Bankruptcy Act.17 And for the first time in the history of proposed extensive bankruptcy amendments, a united front was presented by national legal and commercial organizations. 18 Their success in Congress is a valuable precedent. And finally, both the bench and the bar are encouraged now to continue their concerted efforts in improving the administration of the Bankruptcy Act.

"Carey v. Donohue, 240 U. S. 430 (1916). 15(1925) Rep. Am. Bar Assn., 489.

16See Carey v. Donohue, supra note 14; Martin v. 245 U. S., 513 (1918); REMINGTON ON BANKRUPTCY. 1791, S. C. et seq. Also see 857 (g) of the Act, which preferences upon subdiv. b. of section 60.

17(1925) Rep. Am. Bar Assn., 96. 18(1925) Rep. Am. Bar Assn., 97.

Commercial Nat'l. Bank, (3d ed. 1923) § § 1790, bases voidability of such

The Cornell Law Quarterly

Published in December, February, April and June by the faculty and students of the Cornell Law School, Ithaca New York.

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This number 75 cents If a subscriber wishes his subscription to The Quarterly discontinued at its expiration, notice to that effect should be sent; otherwise, it is assumed that a continuation is desired.

CORNELL LAW ASSOCIATION NOTES

The annual meeting of the Cornell Law Association was held in Boardman Hall, during the forenoon of Saturday, November 13th. The attendance was the largest and most representative in the history of the Association, and the most cordial interest was manifest in the proceedings of the meeting and in all of the work of the Association.

Most appropriately, the meeting was made the occasion of an informal, friendly and deeply-felt tribute to Chief Judge Frank H. Hiscock, '87, Chairman of the Board of Trustees of Cornell University and a devoted friend of the Law School and the Law Association. Because of the age limit imposed by the New York State Constitution, Judge Hiscock concludes on December 31st, twenty years of service in the Court of Appeals, during ten years of which he has been the Chief Judge of that great Court. The Cornell Law Association was the first of the Bar organizations of the State, thus to pay tribute to Chief Judge Hiscock, and to express the keen regret which is occasioned by his approaching retirement.

The annual Alumni Address before the Association and the Law School was delivered by the Honorable Leonard C. Crouch, '89, of Syracuse, Justice of the Appellate Division of the Supreme Court for the Fourth Department. His topic was appropriately "The Judicial Tendencies of the New York Court of Appeals under the Incumbency of Chief Judge Hiscock."

In expressing the thanks of the meeting to Justice Crouch, President Ransom characterized the latter's address as "scholarly, progressive, and vividly interesting in every paragraph-a worthy tribute to a great Chief Judge and a great Court." It will appear in full in the next issue of the QUARTERLY.

Judge Hiscock responded briefly, but with deep feeling, by way of personal greeting to those present, and expressed his earnest interest in the Law School and the Law Association, as in all that pertains to Cornell. He was received with striking evidences of the respect and the affection of the assembled alumni and undergraduates.

The Law Association unanimously elected Justice Rowland L. Davis, '97, of Cortland, New York, of the Appellate Division of the Supreme Court, Fourth Department, Supreme Court Justice Harry L. Taylor, '93, of Buffalo, New York, and Earl J. Bennett, 'or, of Rockville Center, as members of the Executive Committee, which is the governing body of the Association. They succeed John H. Agate, of Cleveland, John J. Kuhn, of New York, and John H. Scott, of Pittsburg, whose three-year terms of service had expired.

At the organization meeting of the new Executive Committee, the following officers were elected, to serve for the ensuing year:

President: William L. Ransom (re-elected), New York City. Vice-Presidents: Warnick J. Kernan, Utica, N. Y.; James P. Harrold, Chicago, Ill.; Albert H. Beebe, Seattle, Wash.; Supreme Court Justice George McCann, Elmira, N. Y.; Roy P. Wilcox, Eau Claire, Wis.; Carlos Lazo, Havana, Cuba; Frank K. Nebeker, Washington, D. C.; together with the following re-elected as VicePresidents: Roger Hyatt, Cleveland, Ohio; Francis A. Niccolls, Boston, Mass.; Paul Overton, Los Angeles, Cal.; Judge F. P. Schoonmaker, Bradford, Pa.; William B. White, Birmingham, Ala.

Secretary-Treasurer: H. E. Whiteside (re-elected) Ithaca, N. Y. The Secretary's report showed that on November 13, 1926, the Law Association had 678 members, all in good standing. On November 8, 1925, the Association had 548 members, but of these 83 were not in good standing, because of non-payment of dues, and were reluctantly dropped from our lists.

The increase in members in good standing since November, 1925, had thus been 200, and that large number of new members was elected at this meeting-an increase of more than one-third in one year. The Association officers are especially anxious to enroll every Cornell lawyer as a member during 1926-27.

The President of the Association announced that the first revision of the Cornell Law List, first published during the Association year

just closed, will probably appear early next spring. It is earnestly hoped to make the next edition of the Law List as complete, accurate and representative as possible. That can be accomplished only if each member of the Law Association will look over his copy and see what Cornell men of his neighborhood and acquaintance are omitted therefrom, and then will consider himself a special committee of one to canvass personally and by correspondence every Cornell lawyer of his acquaintance, to ensure that each of the Cornell lawyers of his community and his acquaintance are enrolled in the Law Association, so that his or her name will go in the next edition.

President Ransom of the Association spoke with enthusaism of the quality of work which is being done in the Law School, under the Faculty directed by Dean Burdick, and expressed the view that a thoroughness of instruction and individual development is being here achieved which is only possessed in a school where numbers are limited. The excellence of the present instruction he said, is reflected by the fact that the Cornell Law School led all of the law schools of the State, in the percentage of its candidates who passed the New York State Bar examinations. He emphasized the pride which the Law Association takes in the CORNELL LAW QUARTERLY, as evidenced by its practice of placing a copy of each issue in the hands of each member of the Law Association.

The President of the Association announced that ten scholarships in the Law School have been established under Association auspices, for the present Law School year. The hearty thanks of the Association was expressed to all those who have joined in the providing of these helpful and worth-while scholarships. Several others are in prospect, and it is hoped that the desired quota of scholarships may soon be obtained, to the end that the Law Association may devote itself to matters of a less urgent but more constructive and farreaching character, in behalf of the Law School.

THE CORNELL LAW SCHOOL

As was announced in the two preceding issues of the QUARTERLY, Mr. Elliott E. Cheatham and Mr. George J. Thompson were last spring appointed to professorships in the Cornell Law School. Professor Thompson joined the Summer Session faculty the first of August, while Professor Cheatham took up his work at the beginning of the regular term in September. Professor Cheatham came to Cornell from the University of Illinois, and Professor Thompson from the University of Pittsburg.

Professor E. H. Woodruff has been granted a leave of absence for the present academic year, and Mr. Thomas C. Billig and Mr. William H. Farnham have been appointed assistant professors for the year to carry Professor Woodruff's work, as well as to add new courses to the Law School curriculum. Mr. Billig received his A. B. degree from Geneva College, Pennsylvania, his M. A. degree from the University of Pennsylvania, and his LL. B. degree from Yale University. He has taught Economics and Political Science at Washington and Jefferson University, and last year was associate Professor of Law at Washington and Lee University. Mr. Farnham took his A. B. and LL.B. degrees at Cornell, being graduated from the Law School in 1922. Since graduation he has been in practice at Buffalo, New York.

This year, the first year class in the Law School has been organized into Law Clubs for Moot Court work under the direction of Assistant Professor Farnham. Our eight clubs have been named after Chief Judge Hiscock, Judge Pound, Mr. Van Cleef and the first five deans of the Law School, Boardman, Finch, Huffcut, Irvine and Woodruff. All first year students will participate in four Moot Court cases during the year. At the end of the year, a final case will be argued by counsel representing the two clubs which have maintained the highest average.

The Law Association Scholarships for this year have been awarded as follows:

Cornell Law Association Scholarship No. I from funds of the Association to Clifford C. Pratt, Elmira, New York.

Cornell Law Association Scholarship No. 2 from Honorable W. L. Ransom to Robert W. Ready, Burlington, Vt.

Cornell Law Association Scholarship No. 3 from the Cornell lawyers of Syracuse to Thomas G. Rickert, Niagara Falls, New York. Cornell Law Association Scholarship No. 4 from Edwin J. Marshall, Toledo, Ohio to Edward J. Elliott, West New Brighton, N. Y. Cornell Law Association Scholarship No. 5 from Hon. Cuthbert W. Pound, Lockport, N. Y., to Samual Mezansky, Poughkeepsie, N. Y. Cornell Law Association Scholarship No. 6 from Waldo F. Tobey, Chicago, Ill., to Alfred Appel, New York City.

Cornell Law Association Scholarship No. 7 from the Cornell Club of Philadelphia, to Ezra Cornell, New Haven, Conn.

Cornell Law Association Scholarship No. 8 from the Cornell Lawyers of the Bar of Nassau County to Anthony Goerner, New York City. Cornell Law Association Scholarship No. 9 from Carlos Lazo of Havana, Cuba, to Henry J. Shirey, Warwick, N. Y.