them in one of the designated depositories; (4) disburse money only by check or draft on the depositories in which it has been deposited; (5) furnish such information concerning the estates of which they are trustees and their administration as may be requested by parties in interest;3 (6) keep regular accounts showing all amounts received and from what sources and all amounts expended and on what accounts; (7) lay before the final meeting of the creditors detailed statements of the administration of the estates; (8) make final reports and file final accounts with the courts fifteen days before the days fixed for the final meetings of the creditors; (9) pay dividends within ten days after they are declared by the referees; (10) report to the courts, in writing, the condition of the estates and the amounts of money on hand, and such other details as

though under peculiar circumstances, with the consent of the creditors and an order of the court, he may do so (Ex p. Bage, 4 Madd. 459. See also 8 Ves. 351; 1 Glyn & J. 112). The bankrupt may purchase with money borrowed or acquired subsequently to his adjudication (Arnold v. Leonard, 20 Miss. 258; Gates v. Frazer, 9 Ill. App. 624).

1It is the duty of the court to designate by order the bank in which the trustee shall deposit the moneys of the estate (861).

2These checks or drafts must be signed by the trustee or the clerk and countersigned by the judge, or by a referee designated for that purpose (Rule XXIX).

The accounts relating to the affairs of the bankrupt and the papers and records of the estate are open to reasonable inspection by all parties in interest (849), and when so ordered by the court it will be an offense to disobey the order (829 [3]). The provision of 29, however, is independent of that in this subdivision, under which the trustee must not only give the information, but he must not conceal facts which may lead creditors to act differently from what they might had they known all the facts. If the trustee misleads the creditors in not properly informing them as to their rights, he will be removed and, if necessary, the proceedings revised (In re Perkins, 8 B. R. 56; s. c. 5 Biss. 254).

See 85d and notes as to the keeping of separate accounts relative to partnership and individual property.

The trustee may be removed for failure to file any report required of him by this act (Rule XVII). See also 2(8).

See 864 as to debts which have priority; 265 as to the declaration and payment of dividends; and 866 as to unclaimed dividends.

If a dividend be paid without an order of the court, the trustee must make good any loss resulting from such unauthorized payment (In re Rude [D. C.], 101 Fed. Rep. 805). The bankruptcy court will not enjoin the trustee from distributing assets of the estate to allow a contingent interest of a third person therein to mature into a vested interest, as the dower interest of a wife on the granting of a divorce (Hawk v. Hawk et al. [D. C.], 102 Fed. Rep. 679).

may be required by the courts, within the first month after their appointment and every two months thereafter, unless otherwise ordered by the courts; and (11) set apart the bankrupt's exemptions and report the items and estimated value thereof to the court as soon as practicable after their appointment."

b Whenever three trustees have been appointed for an estate, the concurrence of at least two of them shall be necessary to the validity of their every act concerning the administration of the estate.

SEC. 48. Compensation of Trustees.3-a Trustees shall receive, as full compensation for their services, payable after they are rendered, a fee of five dollars deposited with the clerk at the time the petition is filed in each case, except when a fee is not required from a voluntary bankrupt, and from estates which they have administered, such commissions on sums to be paid as dividends and commissions as may be allowed by the courts, not to exceed three per centum on the first five thousand dollars or less, two per centum on the second five thousand dollars or part thereof, and one per centum on such sums in excess of ten thousand dollars."

b In the event of an estate being administered by three trustees instead of one trustee or by successive trustees, the court shall apportion the fees and commissions between them according to the services actually rendered,

1See Rule XVII as to the duties of trustee.

2See Rule XVII and 36 and notes as to exemptions; also 87(8) as to the necessity of the bankrupt's claiming the same in his schedule.

The trustee must deliver to the bankrupt his exemptions as soon as practicable, and has no right to delay so doing because the latter has concealed or fraudulently transferred property (In re Park [D. C.], 102 Fed. Rep. 602).

For analogous provisions, see R. S. 85099, 5127, 5127A, 5124; Act of 1867, 8828, 47; Act July 27th, 1868, Ch. 258, 82; Act of 1800, 8829, 47. See also Rule XXXV as to compensation of clerks, referees and trustees, and 851a(2) as to when the trustee's fee is not collected from a voluntary bankrupt.

"If no substantial assets are disclosed by the schedules, no trustee need be appointed. If creditors insist upon an appointment, they must advance the statutory fees, or otherwise arrange for his compensation (In re Levy [D. C.], 101 Fed. Rep. 247). As to the commissions on sums to be paid as dividends, see notes to 840a.

so that there shall not be paid to trustees for the administering of any estate a greater amount than one trustee would be entitled to.

c The court may, in its discretion, withhold all compensation from any trustee who has been removed for cause. Accounts and Papers of Trustees.—a The accounts and papers of trustees shall be open to the inspection of officers and all parties in interest.'

SEC. 49.

SEC. 50. Bonds of Referees and Trustees.2-a Referees, before assuming the duties of their offices, and within such time as the district courts of the United States having jurisdiction shall prescribe, shall respectively qualify by entering into bond to the United States in such sum as shall be fixed by such courts, not to exceed five thousand dollars, with such sureties as shall be approved by such courts, conditioned for the faithful performance of their official duties.

b Trustees, before entering upon the performance of their official duties, and within ten days after their appointment, or within such further time, not to exceed five days, as the court may permit, shall respectively qualify by entering into bond to the United States, with such sureties as shall be approved by the courts, conditioned for the faithful performance of their official duties.

c The creditors of a bankrupt estate, at their first meeting after the adjudication, or after a vacancy has occurred in the office of trustee, or after an estate has been reopened, or after a composition has been set aside or a discharge revoked, if there is a vacancy in the office of trustee, shall fix the amount of the bond of the trustee; they may at any time increase the amount of the bond.

1 For analogous provisions, see R. S. 85062B. See also 29(3) as to a refusal to allow a reasonable inspection, 847a(5) as to the duty of the trustee to furnish information and Rule XVII as to the duties of trustees.

For analogous provisions, see R. S. 4995, 5036; Act of 1841, 89; Act of 1867, 883, 13.

If the creditors do not fix the amount of the bond of the trustee as herein provided, the court shall do so.

d The court shall require evidence as to the actual value of the property of sureties.

e There shall be at least two sureties upon each bond. ƒ The actual value of the property of the sureties, over and above their liabilities and exemptions on each bond shall equal at least the amount of such bond.

g Corporations organized for the purpose of becoming sureties upon bonds, or authorized by law to do so, may be accepted as sureties upon the bonds of referees and trustees whenever the courts are satisfied that the rights of all parties in interest will be thereby amply protected.

h Bonds of referees, trustees and designated depositories shall be filed of record in the office of the clerk of the court, and may be sued upon in the name of the United States for the use of any person injured by a breach of their conditions.

i Trustees shall not be liable, personally or on their bonds, to the United States for any penalties or forfeitures incurred by the bankrupts under this act, of whose estates they are respectively trustees.

j Joint trustees may give joint or several bonds.

k If any referee or trustee shall fail to give bond as herein provided, and within the time limited, he shall be deemed to have declined his appointment, and such failure shall create a vacancy in his office.

/ Suits upon referees' bonds shall not be brought subsequent to two years after the alleged breach of the bond. m Suits upon trustees' bonds shall not be brought subsequent to two years after the estate has been closed.

SEC. 51. Duties of Clerks.'-a Clerks shall respectively (1) account for, as for other fees received by them,

1 For analogous provisions, see Nos. 1 and 28 of the General Orders in Bankruptcy under law of 1867. See also Rule 1 as to the keeping of a docket, Rule II as to endorsements on papers filed with him, Rule III as to the teste of processes and the furnishing of them in blank to referees with seal and signature affixed, Rule X as to the clerk's authority to require indemnity for expenses and Rule XXIX as to authority to sign checks.

the clerk's fee paid in each case, and such other fees as may be received for certified copies of records which may be prepared for persons other than officers; (2) collect the fees of the clerk, referee, and trustee in each case instituted before filing the petition, except the petition of a proposed voluntary bankrupt, which is accompanied by an affidavit stating that the petitioner is without, and cannot obtain the money with which to pay such fees;' (3) deliver to the referees upon application all papers which

1See notes to 852a.

It has been held by a district court under the present statute that the affidavit here specified cannot be taken as conclusive of the fact that the bankrupt is without and cannot obtain the money with which to pay the fees; that he should be examined by or under the direction of the referee on his appearance before him with regard to his means, the rule being in analogy with the common law, chancery and admiralty practice of allowing poor persons to sue without security for costs; that if he appears by counsel, he will be presumed to be able to pay the filing fees unless it appears that counsel is not being paid; and if he is earning $30 a month, though exempt, he must pay out of that the amount provided by statute or have his petition dismissed (In re Collier [D. C., Tenn. ], 1 N. B. News, 257; s. c. 93 Fed. Rep. 191). Judge Hanford of the district court of Washington declined to sign orders for discharge because the fees were not paid, and promulgated in his district the rule that while the clerk would file the petitions accompanied by the affidavit in this subdivision specified, yet the bankrupts would have to pay the necessary expenses as the case progressed, and before the final discharge, must pay the full amount of the filing fees or make a showing to the satisfaction of the court that by reason of ill health, or circumstances of peculiar misfortune he is a worthy object of charity (1 N. B. News, 376; 95 Fed. Rep. 120). A similar holding was made in Vermont (In re Bean [D. C.], 100 Fed. Rep. 262) The holding in re Collier and in re Bean, and the rule adopted by Judge Hanford, seem harsh and inharmonious with the intention of the statute so clearly expressed. Still, except as to the differences that may exist in judicial discretion and the shifting of the burden of proof upon the bankrupt, they seem to be within the provisions of subdivision four of Rule XXXV. Between that rule and the statute there is a wide difference. That the bankrupt may be subjected to an examination touching his means may not be questioned, but that an issue as to such means may be created, that the burden of proof may be shifted to the bankrupt and that he may in accordance with judicial discretion be obliged to pay the filing fees out of money earned after filing his petition, out of the amount allowed to him as an exemption or out of money borrowed for that purpose, is denied. The Supreme court has no authority to adopt a rule that perverts the clear intention of the statute. It is the function of that tribunal to construe-not to enact laws (U. S. Const., Art. III, 1, Cl. 1). It may adopt "all necessary rules, forms, and orders as to procedure and for carrying this act into force and effect" and nothing more (830). Recognizing this limitation, the circuit court of appeals, in Sellers v. Bell, 94 Fed. Rep. 801, fixed what may be considered the true rule in holding that a voluntary bankrupt who accompanied his petition with the prescribed affidavit, was not required to solicit gifts or loans from his friends for the purpose of paying the filing fees; that he was not required to pay the same out of his exemption; or out of money earned after the filing of his petition.