The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1867-10-09
Practice.


To THE MEMBERS or THE B,Rur
THE FOURTH CONGRESSIONAL DIsrRlCr
OF SoUTI CAROLINA For the purpose
OF facilitating applications for the benefit
OF the Bankrupt Act. approved I'd of
March, 1867, and for saving costs and
expences. both to Applicants and At
torneys, the following practice is srespect.
fully recommended, to wit:
|. Have Commissioner Of the
United States Court appointed in each
Distric, before whom Petitions and
Schedules may he sworn to, as well as
before a Register See B. ~, Sec. II,
Rico's Manual, ~.
2. Make up your petitions with the
eleven forms of A and B, omi,ins those
upon which no entries arc made, and
have the same sworn TO before Com.
missioner of the United States Court
Prepare, at tho same time, a blank or
der, if in Voluntary Bankruptcy, rcierr-
ing the case to the Reais,cr leaving the
day Of reference blank, according to
Form II, $. g., Rice's NJ, lat. Thus
prepared, forward tho Petition and
Schedules, and blank order TO the Reg
ister, who will examine the same, and it
found "corrcct in form, viii SO certify,
as required under Rule THIS. g., Ricc's
NJ, LOG. The Register will then for
ward the Petition and Schedules, with
tho blank order, to the Clerk Of
the United States Court, who will file
the Petition aud Schedules in his Office,
and carry the blank order to the Judge
Of the United States Court, to be signed
by linn. The order, when signed by
the Judge, viii be filled by The Clerk,
in the oIli r,an la true copy Of tho same.
certified md 4 the seal Of The Court,
lorwardc 10 he Register.
3. Upon the receipt of the order by
the Register, go certified, he will issue
his Warrant, directed to the Marshal, as
Messenger, TO summon tho creditors OF
tho Petitioner to meet, at Il given time,
at his Office, or such other place as NAV
be designated by tho Court, or by the
Register, to prove their debts, select an
Assignee, and to show cause, il any
they hayc, why the Petitioner should
MOI be adjudgrd a Bankrupt; at that
and all subsequent meetings OF credi.
iors, they may be represented by an
attorney IN fact. as provided in Scc 2S,
~. b., Ricc's NJ, 80. For form OF lel-
ter OF Attorney, by creditors, see Form
81. S. c., Ricps NJ, lS9.
4. AT the first meeting OF creditors, il
there be no opposing party, the Petition
er's Attorney will movo hat the Poti.
toner be adjudged Il Bankrupt II
opposed, the opposing creditor must give
notice Of his objection, ana, wilhrn a
saHShh spSohca{SHs {|%H Ti'" I'll" 4Ynnds HS R"GF ii
objection. Upon the fling Of the spcci-
fications the case will be Immediately
referred to the Judge of the United
States Court. Sec. IL, T.. a., Rice's NJ,
I3.
5. The Fifty Dollars required under
tho Act to be deposited with the Clerk,
to be paid to the Register mus. in all
cases accompany the Petition.
". |. CLAwsoN,
Register 4th Congrcs'l District.
YoRKvlLLE, S. G., Srp,cmber 81,
1867.
TIE EFFECTs or THE BANKRUrr
LAw.-The Now York lFoyM thus al
ln1cs to the operations Of the bankrupt
law in that city:
The enactment Of a bankrupt law has
had II somewhat different effect npon
the fortunes Of merchant and traders
who had failed, than was expected. Il
was supposed thata, there was known
10 be great numbers Of people who
could not 60 into BUSINESS. because OF
their unliquidatad indebtedness, that. as
n consequence, there would be rnsh
OF bnnkrnpts to take advantage of the
new law. 1t has not SO turned out,
though, undoubtedly, when the fall
terms OF the courts eommcnrn, wo will
see mnch larger number of baukrupts
put through The legal mill than was the
case this summer Instead of taking
advantage OF the law to free themselves
from their obligations by being declared
bankrnp's, the delinquent and unfoltu
nate traders arc settling" with ihci,
creditors. For one person who makes
application to the courts, there are
twenty who privately come to an nm.
oerstanding with their creditors. This
has bccn done to so great nj. extent thal
throughout the country thousands o
old merchants will rc,cntcr business thi.
fall and winter. The law allows prac
ucally Of three modes Of settlement the
voluntary and involuntary bankrup.cic.
OF nsolvcnt debtors, or a compromise
without legal proceedings, and this i;
what is now going on all over tho conn
try. The effect cannot but be good
Hundreds of energetic men will agar
find their way into business. and thous
ands Of families will be relieved from
the burden Of old debts. The law SO (al
seems to have worked well.
REAcTI0N.-- It is not difficult to dis
Germ that th" long looked for reaction in
the public mind Of tho North has already
commenced
1|pmOIjc RuU.J;,,