The New York herald., 1864-12-15


vncn such judicial district sitnald with Al his deeds
ooxs ana papers relating thereto. and suoh assignment
ngs in bankruptcy and thereupon, by operation of law
all the property aud estate, both real aud personal pos
sold, assigned or conveyed which could have been
sken 10 execution OF any Judgment or decree against him
al the time OF the hiing OF the petition bv or against him.
all goods ana chaties which bankrupt at the time
he becomes bankrupt, shall. by the consent and per-
mission OF the true owner thereof have In hs posse sion
or subject his order disposition, whereof lie had
taken upon hun the sale, alteration or disposition
ro That no mortgage Of sny vese Or of sn
o'ner goods chaeIs made security for debt
aso. n good fatn or FOR pressn. aud
statute Of the United States, OF any state. shall be
nvaidated or affected hereby; all the property CON
vsysd ny the bankrupt In fraud OF his creditors all
rights in equity, chooses In action patents and patent
rights and copyrights all debts HIM, any person
10. ms use and all liens and securities theretor and
all MS rights OF action for property estate, real
and for of action winch bankrupt
ma against any person arising from contract or from
the unlawful taxing or dstention OF property OF
bankrupt and all his rights OF rodeemng property
OF estate with the ike right title, power and authority
to SELL manage. dispose Of, sue for, and de-
end the same, as the bankrupt might have had
Il no assignment had been made shall In virtue Of the
adjudication OF bankruptcy and the appointment OF
assignee, DO at vested iu assignee ana he
may sue for and recover the said estate debts effects
ana may prosecute and defend all suits at law ia
equity, pending al tho time Of the adjudication OF
bankruptcy in which such bankrupt ia party in his
own name In the Same manner and With the like effect
as they might have been presented defended by
SUCH bankrupt; and copy duly certified by the clerk
OF the court under the seal thereof OF tho assignment
made by the Judge or regster as the case may be- to
him assignee shall be conclusive evidence OF his title
as such assignee to take hold for and tho
property Of the bankrupt herenbefore mentioned No
person shall be entted TO maintain an action against an
assignee in bankruptcy any thing by him as such
assignee without previously giving him twenty days
end that such assignee may have opportunity ten
dering amends, should he soc ft to do so No person
sna hnoS e ,rn ar as agss. the assignee to
! or account OF the bankrupt, or claim any
| lien thereon and suit in which the assignee is
Or From
but the same may be prosecuted and defended by his
successor or by the surviving remaning assignee
the case may be The assignee shall have author ty
under the authority and direction of the court redeem
and discharge any mortgage or conditional contract,
PERSONAL wheneuer payable, and to tender due perform
OF the condition thereof TO sell the subject
shall also at the request Of the assignee and at the
pense OF the estate make and execute any Instruments
assignee possess himself fully of all the assets or the
bankruptcy. The assignee shall Immediately give notice
Of his appointment, by publication at least week
for three successive weeks in such newspapers SHALL
for that purpcse be designated by the court, one OF
which shall have the largest circulation in the district,
and shall, within six months, the assignment
him to be recorded in every registry OF deeds within the
the bankrupt ought by recorded and
OF such assignment, or duly certified copy thereof
shall be evidence ther reof Ia all courts
SIC. It. And be IL further enacted. That the assignee
shall demand and receive from the messenger and all
assigned under the provisions OF this act and he shall
Sell all such unencumbered estate real and personal
wnicn comes TO hS hands on such terms as ne thinks
most the interest OF the credtors but upon petition
of any person interested and for cause showp the court
may make such order concerning the time place and
mrnner Of saie will in its opinon prove to the into
rest OF the creditors and the assignee shall keep regular
acsount OF all money received by him as assignee, 70
free resort
shall have the like remedy 70 recover all said estate,
debts and Effects in his name, the debtor might
nso ana no ~. not Oeen
OF the commencement OF proceedings in bankruptcy AN
action is pending in the name Of the debtor for the
covery oil debt or other thing which might ought
pass to the assignee BY the assignment the assignee
SHALL ii he requires IT, be admitted prosecute the action
| IN his own name in like manner and with like effect
II II had been originally commenced By him. No sus,
pending in the name Of the assignee, shall be sbated
by his death removal; but upon the motion Of the
surviving or remaining new assignee, as the
be, he shall be admitted to prosecute the suit in like
mannersnd with like elect as II II had been originally
commenced by him In suts by the assignee
certified copy Of the assignment made to him By the
judge or register shall he conclusive evidence OF his
ssc 10: And be u further enacted That all attach
dissolved by the decree in bankruptcy; but IL
| debtor, whose property attached, conveys, be-
SUCH properly and subsequently thereto, and before
execution issues proceedings commenced by against
him as bankrupt, or dissolution OF an attachment
might prevent the property attached from passing
assignee the judge before whom proceedings bank
ruptcy are pending or the court TO which the process OF
day Of the ,nsd meeting q creditors BY
any person interested and shown therein order
the lien created by the attachment continue The ac
ton may be continued. execution stayed until the
assignee chosen and takes charge Of the action The
assignee may proceed with the action and levy The exc
caton At the cost and expense OF the estate and
amount recovered exclusive OF costs due the original
| plaintiff. shall vest in the assignee
Stc 90 And be further enacted, That the assignee
shall as soon as may be after receiving any money be-
longing to the estate deposit the in some bank in
hs name rs assignee, otherwise keep distinct
apart from all other money in his possession aud shall
as tar as practicable keep al goods effects belonging
10 tue estate separate and from all other
his possessiop, designated oy appropriate marKs SO
| that they be easily and clearly
may rot be exposed or liable TO taken property
the payment OF his debts When II appears that
the distribution Of The may be delay ed by liga
tion other cause, the direct the temno
rary the money belonging TO such estate
securities TO be approved by Judge register or
said court, or may authorize the be dep
the legal rate, as the bank with the as
sianee To pay thereon. He shall give written notice to
deuds, and such notice Of mec.urs after the nrst as
may be ordered by the court. He shall allowed and
may retain, out o, money his hands all the necessary
disbursements made by him in the discharge Of his duty
aud reasonable compensation Tor his services dis
cretion the court lie may under the direction of the
court submit any controversy arising the settlement OF
demands against the estate OF debts due to
determination OF arbtraors, 10 be chosen by him and
the other party Ia the controversy may, under such
direction, compound and settle auy such controversy by
aeemen with nc othor party as he thinks proper and
most for the interest OF the creditors.
SEc. II. And be further ,nactsd That the court,
after due notice aud hearing, may an as
sianee II II appears upon the complaint or any per.
son interested IN the estate, that the assignee has
| fraudulently received, concealed embezzled or con-
away "ny VI tuo money, Roous, euect3 OF oL0Br
| estate OF the debtor, has interested 10 any
suit at law in relation sad esttc purpose of
securing 10 himself preference OF priority other
creditors, has in his possession control any portion
OF the estate with intent to aps opriate the uuaw-
| fully to his use, has been guilty OF frauduent
actin In relation TO the The may remove
IN assignee who, having removed from the district
reasonably refuses ncgecs 10 discharge hs duties and
also fr any which in the Judgment OF the court
renders such removal necessary expedient. At
ing called by order OF the its discretion
purpose and which shall he called upon the application
OF majority OF the creditors in number and value the
creditors may, with the consent OF the court,
move any assignee by such n vote Is herein be-
provided for the choice Of assignee An assignee may,
with the consent OF tho Judge, resign his trust and be
discharged therefrom. Vacancies caused by death
otherwise 10 the Office Of assignee may be filled by ap
poinmept Of the COURT or at it's discretion by cleo
tion OF the crodors in the horein before pro-
vded, az regular meeting a meeting called for the