Mobile daily commercial register and patriot., 1841-09-01

etut, sulect u its order respecting lts ulute sae keeping and disposition, and fliC c0ut may require ot such signee d bond, win 1t least two sureues in such snn as may oteni paper, conditioned ior the ,lIr and faithful ,srha,ge ui all hia duhes, and his compliance with the orders and dn reuous uf lhe eaiUt which bond shall be taken ln the name of lhe United States, and sha if thete be all, breach thereof be sued and supable under the of such count, for the benefit ot tile credtors aud other per sons m interest.
 Sec 10. And be il further enacted, That in order to speedy settlement and close of the pro ceedngs in each case m bankruptcy t shall be the duty Ot the court to order and dIeet collection Of | the assets, and reduction of the same money , and distribution thereof al as earlS periods as prac- ticable, consistently with dne regard To lhe inter of the creditors and dividend and distribution of such assets shall bc collected and reduced To money, or SO much thereof as can be safr, so dis posed of consistently with the rights and interests of hlrd persons having adverse claims thereto, shall be made among the creditors who have proved thelr debts often in six months from the time of the decree declaring the bankruptcy notice of such dividends and distribution o be given m some news papel newspapers in the District, designated by the court ten days least before the order therefor IS passed; and the pendency of any suit al law in eqnty, by or against such third yersons shall not postpone such division and distribution except sO far the assets may be necessary satisfy the same and all the proceedings in bankruptcy in each case shall, if practicable, be finally adjusted, settled and brought to close, by the court, within two years a- ter the decree declaring the bankruptcy And where any creditor shall not have proved his debt until dividend distribution shall have been made and de- clared, he shall be entitled 10 be paid the amount, pro rata, out of the remaining dividends or distributions thereafter made, the other creditors have already received, before the latter shall be ent | tied to any portion thereof
 | Sec. II. And be 1t further enacted, That the as sgnee shall have full authority, by and under the der and direction of the proper court in bankruptcy
 to redeem and discharge any mortgage other pledge, deposlte, or lien upon any property, real per sonal, whether payable in present. future day and to tender due performance the conditions therefor. And sucha ssignee shall also have hOrity, by and under the order and direction of the proper court in bankruptcy, to compound any debts or other claims, securities due 1T belonging to the estate of the bankrupt; but such order direction shall be made until notice of the application is given in some public newspaper in the district, to be des- lgnated by the court, days at least before the ing, that all creditors and other persons m inter may appear and show cause if any they have, al the hearing, why the order odrecton should not be passed.
 Sec 12 And be it further enacted, That if any
 erson, who shall have been discharged under this act shall alterward become bankrupt, he shall not again be entitled discharge under this act unless his estate shall produce (aiter all charges) sufficient to pay every creditor seventy five per cent the of the debt which shall have been allowed to each creditor.
 Sec. 13 And be it further enacted, That the proceedings in all cases in bankruptcy shall be deemed matters of record but the shall not be required to be recorded at large, but shall be carefully filed, kept and numbered. in the office of the court, and docket only, or short memorandum thereof, with the numbers kept in book by the clerk of the court and the clerk of the court, for axing his and the seal of the to any form, certifying copy thereof, when required thereto, shall be entitled to receive, as compensation, the of twenty five cents and no more. And no officer of the court, commissioner, shall be allowed by the court than dollar for taking the proof of any debt or other claim of any creditor other person against the of the bankrupt but he may be allowed, in addition, his actual travel expenses for that purpose.
 Sec. h. And be it further enacted, That where two or more persons, who partners in trade, be- come nsolyent order may be made in the manner provided in this act either on the petition of such partners, any one of them, the petition ofany creditor of the artners; upon which order all the joint stock and property of the company and also all the separate estate of each of the partners, shall be taken, excepting such parts thereof as are herein excepted; and all the creditors of the company, and the separate creditors of each partner shall be allow ed prove their respective debs and the assignees shall also keep separate accounts of the joint stock property of the company, and ofthe separate estate of each member thereof; and after deducting of the whole amount received by such assignees, the whole of the expenses and disbursements paid by them, the nett proceeds of the joint stock shall be appropriated to pay the creditors of the company, and the nett proceeds of the separate estate of each partner shall be appropriated of pay his separate creditors and if there shall be any balance of the separate estate of any partner after the payment of separate debts such balance shall be added to the joint stock, for the payment of the joint creditors and if there shall be any balance oft joint stock after pay of the oint debts, such balance shall be divided and appropriated to and among the separate estate of the several partners, according to- their respective r0nfo and into ate fhar md f.TlH h.AUa been if the partnership had been dissolved without any bankruptcy; and the sum appropriated to the separate estate of each partner shall be applied to the payment of his separate debts; and the certificate of discharge shall be granted refused each partner, the would ought to be if the proceedings had been against him alone under this and in all other respects the proceedings against partners shall be conducted in the like manner if they had Deen commenced and prosecuted against person alone.
 Sec 10. And be 1t further enacted, That copy of any decree of bankruptcy, and the appointment of sgnees directed by the third section of this act, shall be rected in every deed of lands belonging the bankrupt, sold and conveyed by any assignees der and by virtue of this act and that such recital together with certified copy of such order shall be full and complete evidence both of the bankruptcy and assignment therein recited and supersede the sy of any other proof of such bankruptcy and assign ment to validate the said deed and all deeds contain ing such recital, and supported by such proof shall be as eectua to pass the title o the bankrupt, of in, and to the lands therein mentioned and descr' bed to the purchaser fully, to all ntents and purposes, as if made by such bankrupt himself, immediately before such order.
 Sec. l6 And be it further enacted, That all juris- diction, power, and authority, conferred upon and vested the District Court of the United States by this act, in in bankruptcy, here by conerr ed upon and vested in the circuit of the United States for the District of Columbia, and in and upon the supreme or superior courts of any of the Terri tories of the United States, in in bankruptcy, where the bankrupt resides in the said District of Co., lumbia, in either of the said Territories.
 Sec. IT. And be it further enacted, That this shall take effect from and after the first day of Feb