Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1841-09-16
VOLUME 6.-NUMBER 20.

shall be made at such times and in such
manner as shall be ordered aud appointed
by the court in bankruptcy and all as
sets received by the assignee in money
shall within sixty days afterwards be
paid INFO the court, subject to its order
respecting its future saie>keepng and dis
position and the court may require of
such assignee bond with at least Two
securities, in such sum as may be deem
ed proper, condition for the Que and faith
lul discharge OF all his duties and COM
plIance with the orders and directions OF
the court which bond shall be taken in
the name of the United States, and shall,
II there be any breach thereof, be sued
and suable, under the order of such court,
for the benefit Of the creditors and other
! persons Ia interest.
SEC. 10. And be it further enacted,
mat IN order to ensure a speedy settle.
ment and close the proceedings in each
case IN bankruptcy, it shall be the duty Of
the court to order and direct q collection
OF The asset, and a reduction Of the same
10 money, and u distribution thereof, at
as early periods as practically consistent
with due regard 10 the interests of the
creditors and a dividend and dislribu>
ton oil such assets as shall be collected
and reduced TO money, or SO much there
OF ds can be safely SO disposed of consis.
IentIy with rights aud 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 he bankruptcy ; notices OF such
dividends and distribution to be given in
some newspaper or newspapers in the
dist riot designated by the court, ten days
al least before the order therefor has been
passed ; aud the tendency Of any suit at
law or IN equity, by or against such third
persons shall not postpone such division
and distribution, except SO far us the ass
sets may be necessary 10 satisfy the same;
and all the proceedings in bankruptcy ia
each case Shall II practlca0le, be finally
adjusted, settled, and brought to close,
by the court, wilhln two years alter the
degree declaring the bankruptcy. Aud
where any creditor shall not have proved
his deDt until division or distribution
shall have been made and declared, he
shall DC enutled TO be paid the same H.
mount pro rata, out Ot the renaLnlng
dividends Or dlstrOaton thereafter made,
as Inc other creditors have already recei,
we'd, before the latter shall DC entitled to
any portion thereof.
SEC. i. And 30 it further enacted,
That the assignee shall have full authori.
~, ny and under The order and direction
OF the proper court al bankruptcy, 10 re-.
deem aud discharge any mortgage or
other pledge, or deposIte, or lien upon any
real or personal, whether pays
able in present. rat future day, and to
lender due performance 10 the condi
lions thereof. And such assignee shall
also have authority, by and under the di.
rectIOn ot the proper court IN bankruptcy,
10 compound any denls, o,her claims or
securities, due or belonging to In1 estate
81 the DauErnpt Dut no such order or dl,
lection shall We made until notice vi the
me appucatlon is gwen IN some public
newspaper IN The district, to De designated
" the court, zen days al least Uelore the
learlng, SO that all creditors aud other
PERSONS IN lneres; may appear aud show
ause, II any they have, at The hearing,
Why The order or direction should not be
,asseG. {.
Sec. ls. And be it further enacted,
Nh.t ~ ahaII m n,,n
scharged under this act shall afterwards
ccome bankrupt, he shall not again be
nutled 10 u discharge under this act, I'M
,ss his estate shall produce, cater all
hargeS,) sufficient 10 pay every creditor
.venty .hge per cent, on the amount OF
10 debt which shall have been allowed
each creditor.
Sec. lJ Aud be 1t further enacted,
NAT The proceedings IN all cases shall be
temed matters vi record but the same
lai not be required 10 be recorded ut
trge, but shall be carefully filed, kept,
I'd numbered in the office of the court,
nd docket only or short memorandum
,rreol, with the numbers kept IN u book
Y the clerk ui the court and the clerk
The court, for alhxng his name and the
cal OF the court to any form, or certify
q copy thereof, when required thereto,
lall be emitted ~ receive, as compenSa-
on, the sum OF twenty-five cents, and
0 more. And no officer oil the court, or
,mmlssioner shall be allowed by the
,urL more than one dollar Tor taklngIhe
'ool OF any one debt or DINER Clam OF
~ creditor or other person against the
la.e OF the bankrupt bul he may be
lowed in addition, his actual travel ex-
nse Tor that purpose.
SEC. Ii Aud be II further enacted,
hat where Two or more persons, who are
rtners in trade, become lnsolyent an
der may be made in the manner pro-
led IN this act, either Oh the petition OF
rh mariners, or any one of them or on