Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1841-09-16

OF RepreSeHtdttCeS " Hc CHHeH otubeS "
| America, in Congress assembled, Thai
there be, and hereby is, established through
out the Uniied States, a uniform system O
bankruptcy, as follows: All persons what
soever, residing in any State, District OF
Territory Of the United States, owing
debts, which shall not have been created
in consequence of defalcation as pub.
lie officer, or as executor, administrator
guardian, or trustee, or while acting 10
any other fdueiary capacity, who shall
by petition, setting forth, to the best of his
knowledge and belief, list of his or theil
creditors, their respective places of resi-.
dence, and the amount due TO each, to-
ge,her with an accurate inventory Of his
or their property, rights and credits, OF
every name, kind and description, and the
location and situation Of each and every
parcel and portion thereof, verified by
oath, or, if conscientiously scrupulous oil
taking an oath, by solemn affirmation, APP
ply to the proper court, as hereinafter
mentioned, for the benefit of this act, and
therein declare themselves to be unable 10
meet their debts and engagements, shall
be deemed bankrup,s within the purview
of this act, and may be so declared ac-
cordingly by decree Of such court. All
persons, being merchants, or using the
trade of merchandise, all retailers OF mer-
chandise, and all bankers, factors, bro.
| kers, underwriters, or marine insurers,
owing debts TO the amount of not less than
two thousand dollars, shall be liable to be.
come bankrupls within the true inten, and
meaning of this sc,, and may, upon the
petition of one or more Of their creditors,
to whom they owe debts amounting in the
whole to not less than five hundred dol
lars, to the appropriate court, be so de-
clsred accordingly, in the following cases,
to wit !: whenever such person, being a
merchant, or actually using tho trade Of
merchandise. or being q retailer OF NOR
chandise, or being banker, factor, bro
ker, underwater, or marine insurer, shall
depart from. the State, District or Terri
tory of which he is an inhsbitant, with in.
tent to defraud his creditors or shall con.
ceal himself to avoid being arrested or
shall willingly or .raudulently procure
himself to be arrested, or his goods and
chattels, lands, or tenements, to be attach
ed, distrained, Seques,ered, or taken IN
execution or shall remove his goods,
chattels and effects, or conceal them
to prevent their being levied upon, OF
taken in execution, or by other process
or make any fraudulent Conveyance, as
signment, sale, gift, or other transfer Of
| his lands, tenements, goods, or chattelS,
credits, or evidences Of debt: Proraded
however, That any person SO declared Il
bankrupt at the instance of CREDITOR
NAV, at his election, by petition TO such
court within ten days after its decree, be
entitled to trial by jury before such
court, to ascertain the facts Of such bank
ruptcy; or if such person shall reside a
a grea, distance from the place oil holding
such court, the said Judge, in his dscre'
ton, may direct such trial by jury to be
had in the county of such PERSONS resi-
dence, in such manner and under such d.
rections as the said court may prescribe
and give; and all such DEGREES passed b,
such court, and not so re.examlned, shall
be deemed final and conclusive as to The
subject matter thereof.
SEC. ?. And be ii further enacted, Tha
all future payments, securities, convey
auces, or transfers Of property, or agree
ments made or given by any bankrupt II
contemplation Of bankruptcy, and for The
purpose of giving any creditor, endorser
surety, or other person any preference o.
priority over the general creditors of sucl
bankrupt and all other payments, secu
rites, conveyances. or transfers OF prop
erty, or agreements made or given b.
such bankrupt in contemplation oil bank
ruptcy, TO any person or persons what
ever, not being bona fide creditor o
purchaser for a valuable consideration
without notice, shall be deemed utterl,
void, and fraud upon this act; aud tn
assignee under the bankruptcy shall b.
entitled to claim, sue for, recover, and re
celve the same as part Of the assets OF tn
bankruptcy +; and the person making sue
unlawful preferences and payments shal
receive no discharge under the provision
Of this act: Provided, That all dealing
and transactions by and with any bank
rupt, bona tide made and entered int
more than two months before the petition
filed against him, or by him, shall not b
invalidated or affected by this act: Pro
pided, That the other party 10 any sue
dealings or transactions had no notice @
prior act of bankruptcy, or of the inten
ton of the bankrupt to take the benefit @
this act. And in case it shall be made t
appear to the court, in the course of III
proceedings in bankruptcy, that the bank
rupt, his application being voluntary, has
subsequent to the first day of Januar
last, or at any other time, in contempla
ton of the passage of u bankrupt law, b
assignments or otherwise, given or seeur
ed any preference to one creditor owe
another, he shall not receive dischafg
unless the same be assen,ed to by ma
lior,y in interest Of those Of his creditor
who have not been SO preferred An
provided, also, That nothing in this &C
contained shalt be construed to annu, de
stroy, or impair any lawful rights of mar
rieG women or minors, or any liens, mort
cages, or other securities on property
real or personal, which may be valid b.
the laws of the States respectively, an
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