The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-01-26
THE new sANxRuST LAW.

amendments These are mainly merely In reference 70
details, no radical change having been made Thee L.
now reason 70 hope that this important measure viii
be finally acted upon this session
the bill reported oday BY Senator Foster from the
Committee on the Judiciary b amendatory Of that passed
oy ne HOUSE OF Representatives and 10 In the Of
ostitute Tho principal alterations proposed BY the
conmtes are the followns:-The eighth and ninth Sec
tons are stricken out These authorize the President Of
tho United States when thu business OF district court in
bankruptcy has 90 accumulated that the Judge cannot
perform the same in add ton 70 other business 70 ap
point and commission one district judges 70 cit
IN bankruptcy only aud also to appoint assistant DIR
cut judge under similar circumstances The voluntary
ana commencement Of proceeding sections are
amended oy striking out the authority the marshal or
his deputy In his taking possess on property 20 ar
cept SUCH IS may be by the laws Of State ia which
levy or seizure and sale ON execution Exceptlon M
MADE irom the operation OF tho act Of the necessary
ana Kitchen furniture and such other articles
ana necessaes OF the bankrupt the assignee shall
designate and set apart having reference in the amount
70 tao family condition and circumstances Of the bank
rupt not altogether TO exceed In value any case the
sum OF I'VE hundred dollars also the wearing appa
rel OF the bankrupt and Of his wife and children and
or has been soldier in The service Of the nscd sates
and the determination OF the assignee these matters
shall on exception taken be subject to the final decision
The nineteenth section which provides that oil attach
ments OF the property Of the debtor shall DO dissolved by
section for the distribution of the bankrupts estate the
committee strike out from the debts entitled 70 priority
o. payment those due any pays ian for medical attend
OF the proceedings in bankruptcy until the final dividend
Is DECLARED not exceeding fifty dollars In the order
orty or preference and 70 be first paid In full In the fol-
low ng orderFirs this foes and expenses of suits
second all debts due to The United states and ali taxes
and assessments under tho laws thereof third ali debts
due to tho State in which tho proceedings In bankruptcy
NIL and
the laws OF such state fourth wages due any opera
tive. clerk or house servant an amount mot ex-
months next preceding the first publication Of
t the notice o. proceedings in bankruptcy; ffth
a s IN dSs ss,o, who By the
pr GRITTY or preference in the like II this act
had not been passed; always prov ded that nothing
contained in the act shall Interfere with the assessment
and collection OF taxes by the United States any State
The following Is substituted for the thirty seventh and
ruptcy, and the allowances to the bankrupt yiz:That
discharge duly grant SHALL tn the excepto men,
toned release the bankrupt from all debts claims liza
proved against his estat, In bankruptcy and may
plead asmple that the day Of its
in hoe veyba full and complete bar to all suits brought
on any such debts, claims, liabilities demands,
and the certiacat, shall be conclusive evidence
regularity Of such discharge; always provided
that any creditor creditors Of said bankrupt whose
rptcy who shall fit to test the validity Of the said
discharge tho ground that It was fraudulentiy OBJ
taned may at any me within two years after the date
and annul the Sad application shall DO In writing
shall specify which In particular Of the several
toned In the section intended give evidence against
the bankrupt setting forth the grounds Of avoidance;
and evidence shall DO admitted any othor Of the
said acts but the application shall be subject amend
ment the discretion Of the court which shall cause
sonabe notice OF the application TO be gwen 70 the bank
within such time Is the court shah deem NJ ana proper
II upon the hearing OF the said parties the court shall
nd that the fraudulent acts or any Of them set forth by
tho creditor creditors against tho bankrupt proved
and true, and that the creditor or creditors had NO
knowledge Of the samo, judgment shall be given in
the bankrupt shall be set aside and annailed
But II the court shall ind that the fraudulent acts and
that they were known to the creditor or creditors
the granting OF the discharge then Judgment shall be
renderod favor Of the bankrupt and the validity Of
his discharge shall not be affected by the proceedings
Sections thirty nine and forty remain unaltercd They
relate preference and fraudulent declared
void and the bankruptcy Of partnerships and corpora
lions.
The involuntary bankrupt sections are amended by in
Guiding bankers with merchants and traders and striking
out the proviso that the pctoning creditors shall
cuto bond with sufficient security in penalty Of not
less than two hundred dollars conditioned for payment
TO the debtor In case shall appear that there
valid ground for the application for all damages which
he shall suffer by reason thereof
There arc other amendments, but tho foregoing are
among the most important Of them
Destructive Connagration In Buffalo.
BUFFALO, jan 25-11A AN.
The nrc is stiu raging. The Thermometer stands at
eight degrees above 7ero, which, with the wind and
driving Storm makes It almost impossible for the
Fire Department towork their engines Tho steam Ore
engines can hardly work, being covered with Ice.
II In feared tho whole block will DO destroyed The
loss will be very heavy there number Of stores
already in ruins.
The hotel property 10 believed TO DO fully insured The
landlord Of the American has $4 600 insurance on the
furniture.
The Campbell and Castle Opera troupe werc stopping
at the American, but have saved nearly everything
The fire broke out about four o'clock this morning
Peter Dshls restaurant
BUFFALO, Jan. 2L1PM
The nre is still burning bu. It's course on Main street
is thought to DO checked.
The nrc reached far ~ Burlymorea meat shop and
only arrested by Major Fargo having the building nex.
10 the American Hotel blown up by guspowder.
10 feared the nrs viii extend through Pearl street.
The loss, far. 10 estimated a from $500, 900 to
$4,000.
BuySAro, Jan. 2S-P. n.
Tho nRs was arrested this afternoon After the blowing
up Of building Main street, known the Old Eagle
Tavern II was stopped also In The rear Of Peas street
BY the efforts Of the IRE department.
his evening The flames broke out again In Bully.
msre's building The IRE department II working d
-
viOlent wind and driving mow freezing The hose and
clofning the snginsa
fhe following among shs sufferers BY the cornagrs-
ton The Ore caught in Dehls resaussnt and extended
20 vAnvelsoss bakery, Jsnners drug stors, schry-
vers shoe store and Paul Bunyons confsconayy store
Thence spread 70 the American Hsss entirely destroy.
Ing tia hotel the American Hall N IL rear and the fol-
lowing stores On ths ground nesr:-RossaAw Brosher
fancy goods HoststtR 3 straaas, dry gooda; Locwi 4
Gishodes dry goods, and Barshansr's bsrbsrhop The
nre then communicated 70 Me buildings adjoining ths
hotel occupied By volgsv German goods Upson photo
grsphsr; KnighA iiQsors, and Builymors, meat stand
the other buildings 70 the corner q Court srecs wors
damaged more or issa They occapisd BY Rasopa,
halter; the Buffalo Savings Bank; Gage, grocer II h
fcarea hat these buildings win be destroyed tonight
TIA reported that some persons wcro injured By thu
fdling walls; but amid the confusion 10 impossible u
ascertain the facts. James ssdway, Harry Tirs and
Harry Gilsst, belonging 10 tbs Taylor Hose wore killed
Tho pscuhisry ioss will nos fall short Of half mil
fn.fa Ia sI.a-