Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1866-06-30
The Bankrupt. Bill.


The following is a summary of the Bank
rupt Bill as it has passed the House of Repre-.
scntativcs:
Courts of the'UDited States Courts of Bank.
ruptcy. The second section gives the United
States Circuit Courts general supcrintendencc
and jurisdiction of all cases and Questions
arising under that act Sections three to sew
en-, inclusive, relate to the administration of
the law in Courts Of Bankruptcy. Sections
eight, nine and ten refer to appeals and prac
tioe The eleventh section provides that if
any person residing within the jurisdiction Of
thc United States owing debts over three hun.
dred dollars shall apply, by petition, to the
judge of his judicial district, setting out his
inability to pay his debts in full and his vii.
lingness to surrender his estate for the benefit
of his creditors, the filing Of such petition
shall be adudgcd a bankrupt. a warrant
shall then be issued by the judge, directing
the marshal of the district to take possession
of the estate and keep the same until the ap-
pointmcnt of an assignee. Notice is then to
be given to the creditors to Ao',l a meeting
and choose one or more assgnccs. Sections
twelve to eighteen, inclusive, define in great
details the duties of assignecs. The sections
nineteen to twcnty-four, inclusive, relate to
debts and the proof Of claims. Section TWEEN
ty-Gvc provides for the sale of perishablc
property
Section twcnty-six provides for the cSami-
nation of bankrupts before the court, and cx-
cmpts them from liability to arrest during the
pendcncy of the proceedings in bankruptcy in
civil courts.
Section twcnty-scvcn relates to the distri-
button of the bankrupt's estate All creditors
whose debts are duly proved and allowed are
to be entitled 10 share in the bankrurt prop.
erty pro rattt without any priority or prefer
ence whatever, except that wages due from
him to any operative, clerk or house servant
to an amount not exceeding ffty dollars for
labor performed within six months preceding
the adjudication of bankruptcy, shall be cnti:
tied to priority and shall be first paid in full.
In the order for dividend tile following claims
are to be entitled to priority of preference, and
to be first paid in full in the following order,
Fees, costs and expenses of suits and for the
custody of property. I'd. All debts due to
the United States and all taxes and asacsD.
ments under the laws thereof 3D.. All debts
due to the State in Which the proceedings in
bankruptcy arc pending and all taxes and as.
scssmonts made undcr tho laws of such State.
4th. Wages duo to any operative, clerk or
mouse servant, to an amount not exceeding
fifty dollars for the labor performed within
six months next preceding the first publca-
tion of the notice of proceedings in bankrup..
cy. 5th All debts due to any person who,
by tho laws of the United States are. or NAV
be, entitled to priority or preference, in like
manner, as if this act had not been passed ::
always provided chat nothing contained in the
act shall interfere with the assessment and
collection Of taxes by the United States or any
State. !:
Section twenty y-nine and tho Two following
sections relate to- the bankrapt's discharge
and its effects. If it shall appear to the court
that the bankrupt has in all things conformcd
to his duty under this Act, and that he is en-
titled, under the provisions thereof to receive
discharge, the court shall grant him dis
charge from all his debts, except as hereinafter
provided, and shall give him accrtifcate there
of under the seal Of the court.
Section thirty five declares preferences and
fraudulent convoyanccs void. Sections thir.
tysix, thirty y-scyen, and thirty-eight relate to
bankruptcy Of partnership and corporations
and to dates and dopositions. Sections thirty