Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1866-01-27
Aew Dsnkrap,3iil.

kruit COZ AitF'Tt NNA fNffil TT ~ "A AN'NNi'.
tee, ~ "a lon duuUlcnt. whole unIj 0ll
nlue og these columns in rma,l iyp' The
I'm, ~ IL now stands, gives The present
United States courts Jurisdiction IN oil
eases nyi.ur rn'rr th, sr', 1ai regulates
tire uPpoiul Hcn,, duli2l uul powers IT Of
ftcH who are 10 act in Il judicial capacity
under he apporyi ION OF the courts and
silJcc, 10 thglr orl'r, the practice In NIL
proceedings In bankruptcy, Gnd some olhor
matters Of merely professional Interest
The bill then provides for voluntary bank
ruptcy; un No motion oftho bankrupt him
self AMI involuntary bankruptcy, ON tho
notion Of The creditors Of the bankrupt -
1lir provisions ure distinct az to each.
In voluntary bankruptcy, It u provided
thal amy person residing within tho iuris-
dic,iau az tho uaica States oViag debts
pgovlh,- under the act exceeding I've hun
dr0i dollars In Amount, can apply by petit
ton 10 tho Judge Of the judicial district in
which hc resides setting ior,h his inability
10 pay his debts, and GnneXing sworn
schedule of his loble, their amount and M
ture, with the names and residence OF Lis
creditors, annoxing also m inventory Of MI
property OF every Kind in his possession or
in which he has any interest; and the I'll
ing Of such petitions is 10 be an act of
bankruptcy, and the petitioner shall be adj
judged bankrupt. Tho Judge is then TO
issue a warrant directing the marshal 10
take possession Of all the debtors property
Of every kind, and keep the same nntil ii 0
appointment Of an assignee, and directing
him TO notify creditors 10 proyetboir debts,
Assignces are TO be closen by the greater
part of the value Of creditors, and such as
siguccs, when approved by The judge, take
possession of the debtors property, and all
books and papers relating thereto, with
certain slight exceptions.
All debts and liabilities oIieinn jhonsb
not mat,rcl or rot 0sceriaiucl In amount
rthc time CT The Gdudj:Et;on Of bank
rnplcy may DO proved against the hank
rurls estate, anil all claims provcab,e IN
dor act. except for the mere purpose Of de
Gliding their amount. All claims are 20 b
presented on oath, agd are 20 be in7esN-.
gated iudicislly in case either their Nuo cunt
or validity is disputed. Tho assignccs
have power also, under the supervision Of
The courts, to sell or redocn property, and
10 take yGlious prescribed measures Tor tho
advantage of tho estate, and to bring and
defend suits on behalf of The cstNtc.
Wages duo any operative cloTk. or house
aervant to an amount not exceeding ffty
dollars. are 10 have priority over nil
claims Of irdigi,lunls, anl bo first uaid in
full in tho following ortler; First:-Fees
nd cost OF the proceeds. scconl--All drcg
ia tho United States. Thir.i--All dues to
tho State in Which tho procco,linrs are
pendinr. FourtL-Wars5. OF operatives,
&c. which have accrued during The six
month, preceding tile Rrst notice OF lhe
oroccel!nrq, as above mentioned. Fifth
An dues 10 nersors entitled ia priority.
inside from The rroyisions of the mt undsr
The laws of the United States.
On due notice. nnd at tlie time ard under
the conditions provided by the act. the f.
nal discharce TO be riven to t.e bankrupl
from nil claims proyeable under the act;
guch discharge TO be withheld or 10 bc in
valid If granted. in case of opv fraud or
riolation on tbe-part of lie notitfoner of
the provisions of the acti That behalf.
10 second DISCHARGE il to be granted to
any bankrupt whose Observation-Disclosures to
INV seventy nor cent. OF the claims against
il. without tie consent Of three foufths, in
value. of his creditors. Ani no ,.iri dis
CHARGE % n he C-auirh in any case Bnt n
banlsrunt who has maid all claims existing
Of the time Of n preyio,,q hankrrntcv. shall
be entitled TO a DISCHARGE az thourh there
bod becn no decentralization Creditors
NAV onnose the discharge and have the
grounds of their opposition tried by Jury.
All debts created by action of the bankrupt
ina fducjerv capacity are EXEMPTED from
the operation, of the DISCHARGE.
Similar provisions are made as the bank.
Sims and corporations.
The proceedings in involuntary bank.
rnptcy on the melton, OF the creators diner
from 'h rose, IN .o.uusasy pan"I W. sim