The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-03-22
United States District Court
Before Judge Belts

MARCH IA few petitions passed to the usual
decree. That of L. B Bradley lies over.
Mr. A. Dosgherty presented an amendment 10 the
schedule of Benjamin Cox. Mr. Raymond. conn
sci for the opposing creditor, wished time to ea.
anime 1t. This was opposed by Mr. D., who
observed that the gentleman had been notified Of IL
on Saturday. Mr.. X replit d that MIR. Cox owed
his client between s2l, COO and S22 900. He Thought
that time should be allowed to see if the amesd
ment we're correct. Granted
The objections to the petition of A Brewer not
being acted upon, II passed to a decree.
Mr. Stuart asked for leave TO amend in the case
OF Cassender Frisbee, and read an affidavit shelving
that he had been proceeded against as a concealed
debtor, his property taken from him, and he had
his reach had enabled him TO do As to the lot in,
or near Buffalo, he agreed, ia 1886, TO pay 5000
tor 1t, but mad never done so, aud he understands
it is now nearly worthless. Mr. Joachimssen OPP
posed the motion. He said the petitioner had not
described his property in his schedule account
OF knowing that II was liable to be taken
ton under the laws Of this state. Besides the de-
cree had been denied, and vitality could not be
gwen TO It by a new motion. The case lies over.
Mr.. Sayre moved that the testimony Of Isaac c.
Noe, Collected to by Henry & Cook,) might be
taken before commissioner. He had been in
business as merchant tailor, but becomming EN-
barrassed, his brother was Placed in the store as
owner the petitioner protesting to be mployed bv
him. The belief is that he, in fact really eontin-
ued the business himself and the brother was only
placed there as a cover. Motion granted.
Motions were also made by MI. Haskett. and one
or two other gentlemen.
Messrs. Edmonds and Field then proceeded in
the argument on the objections to petition of Geo.
Brown Mr. Edmonds took this ground in regard
trust debts: the statute says, that all persons ow-
| ing debts other than those created in q fduciarv
| capacity, may be declared u bankrupt Now this
| does not mean to exclude from the benefit of the
| law person who owes, among other debts, one Of
| a fduciary character, but only those who owe no
other debts, or only to debts of that nature. The
test is, does the bankrupt any other debts than
L thAaA kaA kac H. a~l -
In regard to preferences he insisted that no pay
ment Of debt made in the ordinary of BUSH
ness, upon the threat importantly Of creditor
who had the power to prosecute, could be regard
| ed as Illegal Preferences to be illegal must be
voluntary on the part Of the debtor, without i'm
portunity the part Of the rsditor, and with an
intent to become bankrupt. payment by one
hopelessly insolvent would not therefore, be ille-
gel, unless made in actual contemplation OF bank
| ripley. Mr.. also quoted from new essay on
bankruptcy la,ely published at Philadelphia, for
sale at Wiley Il Putnams, Broadway, and main
tanned that there was nothing in the case of Brown
| which prevented a decree.
Mr.. FIELD answered at considerable length,
with much point and powerful argument. He re-
marked that the act had been Gro wded into sever
teen sections and yet embodied more matter than
the two acts Of parliament forming the English
| bankrupt law, one Of which contained 100 and the
other l2O sections. He alluded to the immense
eqsity power given to the Judges of the Cnited
States Court by the act-powers greater than those
| ever given even TO a Roman praetor or an English
cbancellor-and commended that they were so given
with view to their forming and carrying out the
details of the act In allusion to the idea of the
opposite counsel that person owing both fducary
and ordinary debts was entitled to decree on the
latter, he showed that amendment had been in
| troduced by one of the members in Congress for
| this very purpose, but it had been voted down.
He urged the Inconsistency and the danger Of al
lowing decree of bankruptcy where the party
| could not obtain the final decree of discharge If
not allowed to pass, his property would be locked
mn in hard from ybt oh L.
court was not authorised to take it-but, on the
contrary, if permitted to OBJ am his discharge it
would be positive, and the 6duciary creditor must
lose his debt Mr.. F. commended that fiduciary
debtor in the meaning of rhe act, is "a per-
son entrusted with the money property Of ano-
Their for purpose ether than his own" Mr. F.
made other and pointed remarks. In the case Of
the petitioner he strongly commended that he was
not entltledto decree.
The argument closed about one o'clock, when
the Court adjourned