Munro, J.

1. This is an appeal by the Official Assignee against an order of the learned Chief Justice sitting as Commissioner in Insolvency.

2. The facts are not in dispute. The respondent had, on the 5th August 1906, Rs. 600 standing to the credit of his current account with Arbuthnot & Co. On the above date he wrote to Arbuthuot and Co. and requested them to buy on his behalf a Government Promissory Note for Rs. 1,000, when the amount of his current account reached that sum. On the 30th September 1906 he again wrote and requested Arbuthnot & Co. to buy the promissory note as there was then Rs. 1,000 to his credit. He received no reply up to the 10th October. He then called at the Bank and was told by two officers of the Bank that his instructions would be carried out in due course. The promissory note had not, however, been purchased when Arbuthnot & Co. suspended payment on the 22nd October 1906, though it could have been bought for Rs. 5,000 between the 30th September and the 22nd October. On these facts the learned Commissioner held that Avbuthnot and Co, held the sum of Rs. 1,000 in a fiduciary capacity, and directed the Official Assignee to pay the whole amount to the