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

IlRRHpuRG May 19.-The following is a trnt
ppy Of the bill offered by Mr.. DuGeld anc
'hich has passed both branches Of the Legisla
lrc, relative to judgments and executions;
Sac. | Be il enacted by the SErctr and Eouso n
Pprosnfatire, the Commonueorrh,f PennsyIru
va in Gsnerai AssenJiy met aHS q Fs hereby ~
n,si by the authority Of The same, That upon al
Judgments now remaining unsaished, or which
nay he obtained within six months from the pas.
age Of this act there shall be stay of exccu-
tOn for one year from the passage hereof NJ re-
yards judgments now existing, and from their
date Ms regards juo gnents obtained after the 3stc
hereof. Provided that the defen liant is possess
ID Of real estate within the respective county or
uunties in which such judgment shall have eeeE
obtained, in any other county within this Com
nonwealth, TO which the said judgment shall have
been transferred, subject to be sold for the pny
asnt Of such Judgment, worth in the opinion OF
ny court or any judge in vacation, justice, or
sherman having jurisdiction of such jus gments,
ita fair valuation, sum sufficient to pay Or sst-
dy the same, over and above other encuascs@
| at and the amount exeH pted from levy andsac
7 n execution, or said defendant shall give secu-
| iy for the payment of the same, to be approved
[ y the court, or Judge thereof in vacation or
. III u,tice or alderman before whom the same was
=
un the date of the judgment, or from the pass
re Of this act, which security shall consist of one
more persons, who shall satisfy the court, judge
Njuitice, by oath or ntirmat u, and sts,h Othcr
ujcnce us may be required, that they are the
~afds owners of real and persona estate with
ID The county where such judgment has been en-
'Tsd worth, at fair valuation double the amount
dueh Judgment, over ard above all other debts
'1dincumbrances, to which security the plain
h'i may file exceptions rs now provided by law.
Ani that in all acti ms now pending, or instituted
'ihin II months after the passage of this act, in
ny yOi the courts of this Commonwealth, ON notes,
Alii bonds, or other investments, for the pay
a'nt Of money. or for the recovery of book debts
nsr,in the defendant or defendants of any stage
dhe proceedings, before actual sale by the sheC
shall have flied an affidavit setting forth tsat
Ne majority Of his or their creditors, whose de-
hinds exceed two-thirds Of his or their entire
a'Oledness, have agreed in writing to extend
h time Of payment Of the debts due them ros-
f'uvely, the court shall direct the prethonotary
report the terms Of the said cstoh.'on, upon
wen evidence submitted TO him by the defendant
Hdeleudants, and thereupou tho court shall enter
hofderin the cause, that execution shall issue,
uHpt at the periods when, aud in the proportions
'nehi shall lappear by the report Of the prothon
l'y VI the majority of the creditors OF the de-
naant or defendants, whose demands exceed
'o1hlrds Of lis or their entire indebtedness,
ANagreed, as aforesaid, 10 extend the time of
Nnent Of the debts due them respectively and
person Or firm, bank or broker, holding collat-
'as security for debts due or to become due,
"H thin one year from the taking effect of this
"l al public or private sale any such collate-
~ whether the same consist OF mortgage, bond,
~ VI o,her security, commercial or otherwise,
sV party selling such collateral securities
1an 'ueh time shall become responsible for the
Ndoube the amount for which it was pledg-
me owner Of such collateral. And prorided
80 mat the provisions Of this act shall en-
,.SSW judgments entered or to be entered, us
lyon bond and warrant of attorney rs upon
sBes 70 secure the same, and to any subse
I'm .'Bgee grantee or owner Of the premises so bound
10 the original obligor or mortgager,
NJ, 70 all judgments or debts upon which
ura" execution has been or may he waived
,l;I' ueo'or IN any obligation or contract upon
H. In Isuon Judgu ent has been or may hereafter
r,s~neu, or by any stipulation catered into at
sueseparate from said obligation or contract.
US,l rU"aed, That nothing in this act contained
econstrued to stay an execution tina. may
ea after the expiration of sixty days from
age fthis act for the purpose Of collect
~, s%'est due, or to become due, upon any judg
As,,.II any sum, not less than $500, heretofore
Lu but no such execution shall be issued
49,, nan nI months arrearages Of interest.
,Sl That this act shall not apply SO as to
IA Ts ~ collection Of interest on judgments en-
,o,, 'ne Security of the payment Of money TO
H. II. rapnans, or minors. And prorided far
asi ,t.' 'nis act shall not apply to any judg-
svoaned for the wages Of labor, or debts
ssy !, u, after the passage of this act, but shall
H. W. !, vi corporations, whether defendants or
su' s' o. eollatersl..
hDt. mat In all cases in which defendant
r';' enutled to stay Of execution under the
.,i~ is - o' this act and shall neglect or refuse
auNs, Wv i oeneht thereof, any mortgage Of the
A1 =. ,sned upon, or other lien creditor, whose
%ainterest therein would be affected by sale
dsu premises, shall have the like right with
H. ian TO claim such stay Of execution.
in"uPon all judgments heretofore en-