U.S. Supreme Court REALTY ASSOCIATES SECURITIES CORPORATION v. O'CONNOR, 295 U.S. 295 (1935)

[Page 295 U.S. 295, 301]

ings under section 74 of the Bankruptcy Act. Section 74 (11 U.S.C. 202 ( see 11 USCA 202)) and the rules applicable thereto have relation to proceedings for the relief of a debtor not a bankrupt who seeks a composition or an extension of his debts. The present proceeding under section 12 of the act, as amended (11 U.S.C. 30 (11 USCA 30)) is for a composition by a bankrupt. The general order was passed in the exercise of the rule making power, and was directed to proceedings of a particular class. The jurisdiction that we now exercise is part of the judicial function, and is directed to proceedings of a different class. The one does not control the other. Meek v. Centre County Banking Co., 268 U.S. 426, 434, 45 S.Ct. 560; George M. West Co. v. Lea, 174 U.S. 590, 599, 19 S.Ct. 836

We find no merit in the objection that there has been an omission of parties whose presence is essential to the exercise of our supervisory jurisdiction.

The decree of the Circuit Court of Appeals should be reversed, and that of the District Court affirmed.

It is so ordered. Footnotes

Footnote 1 (a) Referees shall receive as full compensation for their services, payable after they are rendered, a fee of $15 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 25 cents for every proof of claim filed for allowance, to be paid from the estate, if any, as a part of the cost of administration, and from estates which have been administered before them 1 per centum commissions on all moneys disbursed to creditors by the trustee, or one-half of 1 per centum on the amount to be paid to creditors upon the confirmation of a composition.