The Union flag. [volume] (Jonesborough, Tenn.) 1865-187?, 1866-06-22
6ninmafyNU f tM0 Napkrupt Bill.

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trict Corn INV biled Siaiea
Court@bf antsapb ASntDn
givsGibe United Stat c Courts
god a6perintendenc6 $50 tl
ton Of all casEg und- Question: arising
under the act. Sections 3 10 tbclu-
Awe, relate to the administration OF
the law.in the courts Of bankruptcy.
SoctiCn SO and 10 refer to appeals
and practice The 18th section pro-
Tvides that IL any person reridirg
within the Jurisdiction Of United
States, owing debts over three hun
.ldred dollars, apply by petition to the
Judge OF his judicial District, setting
out his Inability to pay his debts ia
full, and his Willingness TO surrender
his estate for the benefit Of Lis credit
ors-lhe filing ofsuch petition shall be
All act Of Bankruptcy, and such q Pc
titioner shall be adjudgeda bankrupt,
A warrant shall then DO issued by the
Judge directing the marshal OF the
District totake possession Of all tho
estate and keep the same until the APP
pointment Of an assignee. Notice is
then to be given TO tho creditors to
hold a meeting and choose n or
more assignees. Section IL to Is in
elusive define, in great detail. the du-
ties Of assignees' Section 10 TO "a,
inclusive. relate TO dehls and proof Of
administration rs provides for the
sale of p~erishable property. Section.
26 provides for examination Of bank
rupts before the Courts, and oxempts
them from liability Of arrests during
the tendency Of the proceedings in
bankruptcy, in civil actions. Section
81 relates to the distribution Of the
bankrupts estate. All creditors
whose debts are duly proved and al
lowed are to be entitled to share in
the bankrupt property pro rata with
out any priority or preference what
ever, except that wages due from him
to any operative, clerk or house ser
want TO an amount not exceeding fifty
dollars, for labor performed within
six months next proceeding the adju-
cation Of bankruptcy, shalI be eHti-
tied to priority, and shall DO first
paid in full. lin the order for a div
idOnd the folio wing claims are to be
entitled to priority ~ reference and
to be FIRST paid in fuh in the following
order: /. Fees, costs, expenses Of
suits. and the custody Of property
2. All debts dHe TO the United States,
and all taxes and assessments under
the laws. thereof. 8. All debts due
10 the State in WHICH the proceedings
in bankruptcy are pending and all
taxes. and assessments made under
the laws Of such State. A. Wages
due 70 any operative, clerk or house
servant, 10 an amount not exceeding
$50, for labor performed within six
months next proceeding the first pub
LEGATION ofthe notice Of proceedings In
bankruptcy. g. All debts due to any
persons who, by the laws of'the Uni
ted States, are or may be entitled to u prior
orty preference,in like manner as II this act
had not been passed, Always provided that
nothing contained in this act shall interfere
with assessment and collection oftaXeS by the
United States or any State. Section 20 and
the five following sections relate TO the
bankruptcy discharge and its effects. II it
shall appear to court that the bankrupt has
IN all things conformrd" 10 his duty under
this act and that be is entitled under the
provisions thereof TO receive q discharge,
the Court shall grant him dicharRe from
Ill bis duties eIceptaS hereinafter provided,
and shall give him 1 certificate thereof uu-
der the seal Of the Court. Section IS de-
'clareS preferences and fraudulent convey
auces void. Sections 36, 81 and IS relate
to TIE bankruptcy Of partnerships and coz
porations. and to dates and depoSitions.-
Sections 80 to q Inclusive provide for the
case Of involuntary bankruptcy; q depart
ure from the state, avoiding the service Of
legal process, removal or eoncealment Of
property irnudnlrnt assignment Of property,
arrest and detention for debt for a'periOd l. Of
seven days. confession Of Judgment or sus-
pension of payment OF. paper for fourteen
DAYS. shall be deemed an act Of bankruptcy.
Section 40 provides for the superseding Of
the bankrupt proceedings by arrangement.
Section a provides penalties against bank
FOR coneeslm,nt Of property, falsifying
books or papers fraudulent assignment or
conveyance Of properly, spendingin gaming,
permitting a fictitious debt TO be proved
against him, obtaining on credit fraudulent
ly within three months OF the commence
ment OF the proceedings IN bankruptcy T;
these are to be deemed mlsdemeanors, and
punished By imprisonment, With or without
bard labor, for n term not exceeding three
years. Sections '3b ana 40 provide penalties
against officers IN administering the law.
Section ~ regulates fees aud costa Sec
tion IS regulates stamp duties on petitions,
warrants, &c. Section 20 and 5Oidehns the
meaning Of terms and computation Of time.
Section 81 and last enaets that this act shall
commence and take effect, As 10 The APPOINT
ment Of the officers created hereby, and
the PRONUNCIATION or rules and general or
deri, from and after The date Of its apprO.
val provided athHt no petition or other
proceeding nader, this act shall be filed,
received or commenced before lst day OF
November 1885.
H1- The rebel organs complain that
the present State Administration IA
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