Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1861-05-22
The STAY Law.

HARRsBuRc, May I9.-Thc following is true
copy of the bill offered by Mr.. Dulicld, and
which has passed both branches Of the Lcgisla
turc, relative to judgments and executions:
SEC. BE Il enacted by thc Senate and Hou,c oJ
Unprecedented offbc ConmoHccuitLof P,upsyiru.
MA IN General AsscmJiy met, and il il hereJy en-.
acted BY the authoriiy ot the sumo, That upon all
Judgements now remaining unsatsGed or which
may be obtained within six months from the ls'-
sage Of this act, there shall he stay of cNccU-
ton for one year from the passage hereof as re-
CARDS judgments now existing, and from their
date ms regards jut gmcnts obtained after the date
hereof Provided that the drfcn liant is possess
ed Of real estate within the respective county or
counties in which such judgment shall have been
obtained or In any other county within this Com
nionwealth, 10 which the snil judgment shall have
been transferred, subject to be sold for the pay
nient Of such judgment, worth in the opinion Of
any court or nny judge in vacation, justice, or
alderman hnyiug jurisdiction Of such ju! gmemts,
.,t fair valuation, sufficient to pay or sat
sly the same, over and above other ercumbran-
ccs, and the amount exempted from levy and sac
vn execution, or said defendant shall give Sccu-
tity for the payment of the same, to be approved
by the court, or judge thereof in vacation, or
the Justice or alderman before whom the same was
obtained or may be depending, within sixty days
from the date of the Judgment, or from the pass.
nge Of this act, which sccurity shall consist OF one
pr more persons, who shall satisfy the court, judge
Or Justice, by oath or affirmation H. and such other
evidence ne may be required, that they are the
bona fde owner of real and personal estate with
n the county where such Judgment has nesn en-
cred, worth at fair valuation double the amount
, ,f such Judgment. over ard above all other debts
md incuinbranceS, to which security the plain
ifs may file exceptions as now provided by law.
And that in NIL acti ms now pending, or Instituted
within II months after the passage of this act, in
ny of the courts Of this Commonwealth, On notes,
lls, bonds, or other investments, for the pay
mont Of money. or for the recovery Of book debts,
wherein the defendant or defendants Of any stage
I the preceding, before actual sale by the Sher
r. shall have filed an affidavit setting forth that
he majority Of his or their creditors, whose de
hands exceed twO-thirds Of his or their entire
ndebtedncss, have agreed in writing to extend
he timc Of payment Of the debts due them res
cctively. the court shall direct the prOthonoary
0 report the terms of the said extension, upon
|ven evidence submitted to him by the defendant
n defeudants, and thercupon the court shall enter
order In the cause, thatnu execution shall ISSUE
except at the periods when, and in the proportions
which IL shall appear by the report Of thc prothon
tary II the majority of the creditors of the de-
endant or defendants, whose demands exceed
wo-thrds Of lis or their entire Indebtedness,
ave agreed, as aforesaid, to extend the time Of
payment of the debts due them respectively, and
10 person VI firm, bank or broker, holding coat-
Erals us security tor debts due or to become due,
hall W thin one year from the taking eicctof ths
Ct sell at public Or private sale any such coilatc
Ials, whether the same consist of mortgage, bond,
ote, or other security, commercial or otherwise,
md any party selling such collateral securities
within such time shall become responsible for the
anne at double the amount for which it was pledg-
d to the owner of such collateral And proridcd
urther, That the provisions of this act shall eX-
end to Judgments entered or to be entered as
hell upon bond and warrant of attorney as upon
nortgages TO secure the same. and to any subso-
iuent grantee or owner of the premises so bound,
- wen as 70 the original obligor or mortgager,
ma a'so 70 al judgments or debts upon which
hy VI execution has been or may be waived
y inc deo'or in any obligation or contract upon
nlen sucn ludg1 ont has been or may hereafter
e op'aiheu, OF by any stipulation entered into at
ny timo separate from said obligation or contract.
dPror'aed' ln"t nothing in this act contained
hall be construed to stay an eyecption mo. ,no,
G issued after the expiration Of siyty H. c,a,,
he passage Of this act for the purpose Of collect,
ng interest due, or TO become due. moo, ,,,iis
|nent for any sum, not less than 5000. EcrSfor,ro
Ibtained but no such execution shall be iss,o6
or less than six months arrearages Of irterest
Provided, That this act shall not apply So os to
|tay the collection Of interest on judgments on
cred for the security Of the payment Of money to
fidows, orphans or minors. And proUided far
her. That this act shall not apply to any iudg-
hent obtained for the wages Of labor, or debts
contracted nfter the passage Of this act but shall
|pply to All corporations, whether defendants or
olders os eollatorUls.
Sec ,. That in all cases in which defendant
nail % sntitled to stay of execution under the
rosi:ene Of this act, and shall neglect or refuse
oIem hs benefit thereof, any mortgage of the
sen'ses levied upon, or other lien creditor, whose
'.'e -. oF interest therein would be affected by sale
~ <.n premises, shall have thel like right with
eerneant to claim such stay of execution.
oro' = IhAt upon all judgments heretofore en-.