The weekly Panola star. [volume] (Panola, Miss.) 1857-1881, 1866-06-09
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lendaha HHi Jurisdiction N vi eaf4
tHi questions Arising Hbtief ihe mt
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sHiionf daii nlno aml ion MFR
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lhe eIe,eHh iefllm provide ihh
" lny pnm psIdlng wfhin NE
jurisdiction of iho luitod slnl,s,
owing dnlfa over three hunlfed dal
laf., sbHll aprly BY Fiiiiotf to ile
ihlgr n hi. udieial district tiiina
nui hls Inability ~ pay bis deht iu
illl, and his Willingness " .urrend r
lis estate lor The benefit of biz credl
ton tle liling NJ such petition shall
be an ad gf bankruptcy, and said
petitioner shall be adiudgcd 4 bank /.
rnpi \ wafrnni shall then bc issued
by The Judge directing the marshal
ol The district 10 take possession NJ
The estate and keep The snme until
the appointment of M assignee. No
ticc Is then 10 be given 10 The crcdi-
tors 10 hold meeting aud choosc one
or more assignccs.
Sections twelve to eighteen, incu-
sivc, define In great detail the duties
of assignccs.
Sections nineteen to twenty-five,
inclusive, relates TO debts and the
proof Of claims.
Section twenty-five provides for
the sale Of perishablc property.
Section twcnty-six provides for the
examination of bankrupts before the
court, and cxcmpts them from LA
bility to arrest during the pewlency
of the proceedings in bankruptcy in
civil actions.
Section twcniy-scyen relates 10 the
distribution Of the bankrupt's estate.
All creditors whose debts are duly
proved and allowed arc to be entitled
to share in the bankrupt property
pro rata, without any priority OF
preference whatever, except that
wagcs due from him 10 any operative,
clerk or servant, TO an amount moi
exceeding ifty dollars for labor per-
formed within six months preceding
the adjudication Of bankruptcy, shall
be entitled to priority, and shall be
first paid in full. In the order fol
a dividend, the following claims arc
TO be entitled TO priority of prefer.
cncc and to be first paid in full in
the following order: First, the fees
costs and expenses of suits and ioi
the custody OF property; second, NIL
debts due to the United States and
all taxes and assessments under the
laws thereof; third, all debts due 10
the State in which the proceedings in
bankruptcy are pending and MI take,
and assessments made under the law,
of such State; fourth, wages due /,
any operative, clerk or house servant
to an amount not exceeding fifty dol
lars for labor performed within 81,
months next preceding OF the frs
publication Of the notice Of proceed
ings in bankruptcy; ffth. all debt
due TO any persons who by the law
of the United States are or may b
entitled 10 a priority or preference Il
like manner as If this act had no
been passed; always provided tina
nothing contained In the act shal
interfere with the assessment and col
lection Of taxes by the United State
or any State.
Section twcnty-ninc and tho fv
following sections relate TO the haals
rnptcy discharge and lis effect - ]
il shall appear 10 the court that N
bankrnpt has In all things conforme
to his duty under this act, and tha
he is entitled under the provision
thereof 10 receive n discharge. Nh
court shall grant him n discharp
from all his debts except as therein
after proyided. and shall rive him
certificate thereof under the seal {
the court.
Section thirty-fvc declares prefer
cnos and fraudulent conveyance
; void.
Sections thirty-six, thirty-seycn an
+. thiry-eight relate to bankruptcy
, partnerships and corporations. and ,
dates and tlcpositions.
| Sections thirty-ninc 10 fortv-tw
inclusive. provide for the case Of IL
voluntary bankruptcy. A dcparful
from the State. avoiding the service ,
: Io,ol ,Yoccss ror,ox,l ~ conccalmer