The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-03-28
MONEY MARKET.
Sunday. March 27-6 p. M.

The Boston mail has again reached US, bringing no
tidngs Of the Liverpool steamer Columbia which has
now been out % days Fears are entertained for her
safety The mdness Of the weather has caused the ice
tobreak up early and it is not impossible that she has
been delay by it, may, like the Caledonia have been
obliged put More especially the sailing pack
cts make such long passages.
The operations under the Bankrupt law proceeds
slowly 1t is thing, and both the lawyers and the
bankrupts studying and experimenting on Its opera
ton Thus far has only served to point out the loca-
ton of property to creditors in order that they may
seize under the State laws Judge Story has decided
that property which into the possession Of
bankrupt after his papers are fled not SUBJECT 70 AZ
tachment When the bankrupt files his billthe property
of which he then stands under the chargeo
the asseness and ia not liable to SEIZURE but If the
BANKRUPT does not in obtaining his decree the
property is then exposed to attachment from Individual
creditors and may be seized and sold. The bankrupt
has then to commence de The operation Is then
az follows: A bankrupt has long had possession Of
property of which his creditor could obtain no in
formation. On fling the bills the location Of this
propertv is pointed out to the creditor, who im1
msdiatelv leyys on it. He then exerts himself to
prsyent the bankrupt frsm obtaining his decree.
II he succeeds in this he immediately sells under his
levy and pay himself It will be seen that this leaves
door open pay preferred debts in spite OF the provisions
of the law An extensive system OF plumber and annoy
kept the bankruPoy aciass oi most soh
emptible pettiioggipg lawyers Thus when bankrupt
files his BILL hungry lawyer looks over the last OIL
credsrs selects one or two, to whom he oners MS
services gratis telling them that they will give him
power of attorney to for them In the case he VIII
save their debt for them The bankrupt not anticipating
any opposition appears court and whenihs name 10
called finds to his astonshment, lawyer ohiectrg -
his release, on some frivolous pretence he VIII tnen
send his lawyer to opponent find oct the nature
the opposition and he ascerans that $40 will IN"
matter Such are Of the tricks thot have se''y
resulted from the new law There ara aireaay aoou'
100 applicants in this city their liabilities amoon' 10
$40 900 ooc and their not 100000 The ersaor
Their eore get literally nothing THERE'S another ih'et
estipg pont of the law Its in RESPECTIVE iufnure se
sa under landlords warrant Hthat iurniture Is IN
,aea in the inventory of the bankrupt must be div
IA ,s,o among all the creditors the law placing all
| .,,h. .ame footing In case before Judge DECKER
- AZ gloucester County, New Jersey such ease oc
cu,red The goods dis,roined were those nventoried
with the petition. On behalf Of the bankrupt, H. W
ell ESQ moved the Court for rule upon the land
lord TO desst farther psoce ding on his warrant al
lesipg l. That the Act of Congress placed the landlord
on footing with all other creditors; and, q That u
was necessary for the complete enforce OF bank
run, law that the articles nventoried should psss into
the hands Of the assignee to be by him eposedoi Tic