Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1841-09-02

result therein, unless now trial shall b
granted, ifin favor of the clains, shall BE-
evidence Of the validity and amount OF such
debts or other claims. And # any person
or pcrsons shall ialsely and corrupriy answer.
swear, or aifrm, 10 any hearing or an irinl o.
any matter, or IN any proceeding IN such
court Ia bankruptcy, or before any commls'
rioner, he or they shall be deemed guilty OF
pcrjury, and punishable therefor i9 the man.
ner and TO the extent provided by law io'
other cases.
Sec. 8. .7,,d be IT, further enacied, That the
circuit court within aud for the district where
the decree ofbunkruptcy is passed, shall have
concurrent jurisdiction with the district court
Of the same district Of oil quits at law aud in
equity which may and shall be brought by
any assignee Of the bankrupt against any
person or persons claiming an adverse III
tercst, or by such person against such assig
noe, touching any property or rights of prop
erty ui said bankrupt transferable TO, or YES
ted IN, such assigncc; aud no SUIT nt law oi
in equity shall, iD any case, be msintalnable
by or against snch assignee, or by or against
any person claiming an adverse interest
touching the properly and rights OF property
aforesaid, in soy court whatsoever, unless the
same shall be brought within two years aftor
the deelarution and decree of bankruptcy, or
nfier the cause of suit shall first have accrued
Sec. 9. .1nh be Il further enacied, Thut nll
sales, transfers, aud Other coDyeysnces Of tn
assignee, of the bankrupts property and
rights of property, shall be made at such
incs and ia such manner as shall be order-
ed aud appointed by the court in bankrupt
cy; aud ali assets received by The assignee
in money shall, within sixty days afterwards,
be paid into the court, subject 10 its order res
pecting It's future safe Keeping and disposl
tIon; and The court may require OF such as
signee bond with at least two shretics, III
such sum as it may deem proper, condition
ed FOR the due and faithful discharge Of al
his duties, aud his compliance with the or
ders aud directions Of The court; which bond
shall be taken IN the name of the United
States, and shall, If there be any breach
thereof be- sued and sucsble, under the or
der of such court, for the benefit Of the credi.
iors aud other persons in interest.
Sec. 10. find be II further enacted, Thut in
order Ia ensure q speedy settlement and
close of the proceedings in each case in bank.
rupcy, it shall be the duty Of the court To-
order and direct collection of The assets,
aud reduction OF the same 10 money, and a
distribution thereof at as early periods as
practicable consistently with due regard
10 the interests Of the creditors: aud dividend
aud distribution OF such assets as shall b.
collected aud reduced to money. or so much
thereof as eau be- safely 80 disposed OF, con
sislently with the rights and interests OF
third persons having adverse claims thereto
shall be made among the creditors who have
proved their debts, as often as once IN SIX
months from the time OF the decree declaring
the bankruptcy; notice OF such dividends and
distribution to be given in some newspaper
or newspapers in ihe district, designated by
the court. ten days at least before the order
therefor Is passed; and the pcndency Of any
SUIT at law or in equity, by or against such
third persons, shall not postpone such division
aud distribution, except So far as the asscts
may be necessary TO satisfy the same; and
all the proceedings in bankruptcy IN each
case shall, II practicable, be finally adjusted
settled. and brought Ia close, by the court,
within Two years after the decree declaring
the bankruptcy. And where any creditor
shall not have proved his debt until dividend
or distribution shall have been made and de
claicd, he shall be entitled TO be paid the
same amount, pro rata, ont OF the remaining
divide nds or distributions thereafter made, a.
the other creditors have already received.
before the latter shull bo entitled to nny por.
ton thereof.
Sec II. find be II Guiktr enacted, Tha. the
assignee shall have lull authority, by and
nnder The order aud direction of the proper
court in bankruptcy, to redeem and discharge
any mortgage or other pledge, or dcpostc. OF
lien upon any property, real or personal.
whether payable in PRESENT. or at future
day. and To tender due performance OF The
conditions thereof. And such assignee shall
nIoo have authority, by and under the order
and direction of the proper court IN bank
fup,cy, 10 compound any debts, or other
claims or securities, due or belonging to the
estate Of the bankrupt; but no such order OF
direction shall be made until notice OF the
application is given in some public newspaper
IN the district, to be designated by the court,
ten days at least before the hearing, so that
all creditors and other persons III interest
may appear Gnd show cause, IT any they have
at the hearing, why the order or direction
should not be passed.
Sec. IL. Ind be il further enaeied, Tint if
any person no shall have been discharged
under this act shall afterward become bank
rupt, he shall no, again be entitled to dis
charge under this act, unless bis estate shall
produce latter oil charges) sufficient TO pay
every creditor seveu,y-6ve per cent. on the
amount Of the debt which shall have been
allowed to each creditor.
Sec. l3. find be IL further enacted, That tho
proceedings IN oil cases IN bankruptcy shall
he deemed matters Of record; but the same
sholl no, be required TO be recorded at large,
but shall be carefully filed, kept, and number.
cd in the office OF the court, and docket
only. OF short memorandum thereof, with the
numbers, kept IN book by tho clerk at the
court; aud the clerk OF the court, for nihxng
his Bamc and the seal Of the court to any
form, or certifying copy thereof, when re
qured thereto, shall be entitled 10 receive.
ne compensation, the sum of,wenty 1--WE cents,
ond no more. Aud no officer Of the court.
or commissioner, shall be allowed by tho
court more than one dollar for taking The
proof of any debt or other cluim OF any cred
itor or other person against the estate of the
bankrupt; but he may be allowed, in addition,
hIs actual travel expenses for that purpose.
Sec. Ia. .4ndbe ii further enacted, That
where two ar more persons, who are paitner'
IN trade, become insolvent, an order may b.
nnde in The manner provided in this act
cl,hcr ON the petition Of such partners, or any
QUO Of lIirm or on the petition ofany creditor
OF tho par,rcrs; upon which order'al the joln'
stock and property Of the company, and als'
all the separate estate of each Of the partners,
shall be taken. excepting such psrts there
Nh0 A