Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-03-21
Nnipn and 9ispatth,

such corporation or company in relation 70 the
same matters concerning the corPoIattOn %
company. and the money and property thereof
An pavments -conveyances, and assignments
declared fraudulent and void by TINS act Wheh
made BY a debtor, shall in like manner, ana 20
the like extent. and with ike remedies' De
frondulent and void when made by corpora
tion or company. No allowance or discharge
shall be granted 70 any corporation 0r JOINT
stock company, or to any person or queer OF
any corporation by proceedings under TINS act
shall be declared bankrupt all It's property ana
assets shall be distributed TO the credirorS OF
such corporations in the manner provided IN
this act IN respect TO natural persons.
OF DATES AND DEPOsITIONs.
Sec. ss. And be it further enacted, That the
filing Of a petition for adjudication IN bank
ruptcy, either By debtor m ms own DenaLll on
by any creditor against debtor, upon. which On
order may be issued by the court, or by regis
ter ia the manner provided IN section iour, shai!
be deemed and taken % be the commencement
of proceedings IN bankruptcy under this act;
the proeeedings in all cases Of bankruptcy shaii
be doeTne matters Of record, but the same shaii
not be required 10 be recorded at large, but shai
be carefully hled, KEPT, ana NUMBERED ~ ~
Office az the clerk of the court, and docket
only, or short MEMORANDUM thereoI, heRt u
hooks 10 be provided for that purpose, Whlch
shall be Omen 70 public Inspection. COPIES OF
snch records, duly certified under the seal Of the
court shall in all cases be prta'd Jdcte eFlaehCe
Of the facts therein stated. Evidence OF eXaml-
nation in any Of the proceedings under tlls aet
baulruptcy', UiUd UOce or IN writing before a
commissioner of the Circuit Court, or By allda-
Wit or on commission, and the court may direct
q reference TO q register m bankruptcy, or otheT
suitable person, 70 take and certify such examl-
nation. and may compel the attendance Of wit
nesses the production Of books and papers, and
the giving Of testimony 10 the same manner ms
in suits In equity in the Circuit Court
INVOLUNTARY EANKRUPTCy.
Sec. 80. And be IL further enacted, That any
person residing and owing debts as aforesaid,
who. after the passage Of this act. shall oepat
from the State district, or Territory, Of which
he IL an iuhabitant, with intent TO detraud has
creditors. or, being absent. shall, with such in
tent remain absent or shall conceal himself to
avoid the service OF legal process m any acton
for the recovery Of n debt OF demand prOyable
under this act or shall conceal or remove any
of his property 10 avoid its being attached TAKEN
or sequestcred on legal process or shall make
any assignment, gift, SALE conveyance or trans
fer Of his estate. propety, rights or credits
either within the United States OF elsewhere.
with intent 20 delay defraud. at hinder his credi-
tors OF who has been arrested and held m Gus
tody under or by virtue of mesne process Of eX-
ecution, issued out Of any court Of any state
district or Territory, within which such debtor
resides OF has property, founded upon demand
In its nature pr0yable against bankrupts es-
tate under this act, and for a sum exceeding one
hundred dollars. and such process Is remaining
in force md not discharged by payment. or n
any other manner crowded by me law 81 such
State. district, or Territory applicable thereto,
for a period Of seven days: OF has been actually
IMPRISONED for more than seven days in a eiVil
action. founded on contract, for the sum Of
one hundred dollars OF upwards OF who,
being bankrupt or insOlvent or in cOntem-
platiOn ofbankTuptcy or insolvency, shall make
any payment, gilt, grant, sale, conveyance, or
transfer Of money, or other property, estate,
rights OF credits. OF give any warrant 20 confess
judgment, or procure OF suffer his property 20
be taken on legal process, WITH intent TO give a
preference 20 one OF more OF has creditors, or 70
any person or persons who are or may be liable
for him endorsers. bail, suretles, OF otherwise,
or with the intent. by such disposition ct bis
property. 10 defeat or delay the operation Of
this act OF who, being a banker, merchant, or
trader. has fraudulently stopped or suspended
and not resumed payment OF ms commercial
paper. within period ott0urteen days shall be
deemed 20 have committed an act Of bankruptcy,
and subject 10 the conditions hereinafter pre-
scribed, shall be adjudged bankrupt on the
petition Of one or more Of his creditors, the
aggregate Of whose debts proyable under
this act amount ITO at least two hun
dred and fifty dollars, provided such
petition is brought within six months after
the act Of bankruptcy shall have been com
mitted. And If such person shall be adJudged a
bankrupt. the assignee may recover back the
money or other property so paid, conveyed,
sold, assigned, or transferred contrary 70 tins
act provided the person receiving such payment
or conveyance bad reasonable cause TO believe
that fraud on this act was intended. or that the
debtor was insOlyent, and such creditor shall
not be allowed TO prove his debt in bankruptcy.
Sec 40 And be il further enacted That upon
the filing Of the petition authorized by the next
preceding section, IL IL shall appear that sufficient
grounds exist therefor. the court shall direct the
entry Of an order requiring the debtorto appear
and show cause, at court Of bankruptcy 70 be
holder at "a time TO be specified in the order, not
less than five days from the service thereof, why
the prayer of the petition should not be granted
and may also, by its injunctiOns, restrain the
debtor, and any other person, IN the meantime,
from making any transfer or disposition Of any
part Of the debtors property not excepted by this
act from the operation thereof and from any
fharpVr frs and shall anuenr that
there Is probable cause for believing that the
debtor is about TO leave the district 10 remove
COT conceal his goods and chattels OF his evidence
of property. or make any fraudulent conveyance
OF disposition thereof, the court may issue war
rant TO the marshal of the district, commanding
him to arrest the alleged bankrupt and him
safely keep, unless he shall give bail 60 the sat
isiactiOn of the court for his appearance from
time to time. ne required by the court, until the
decision OF the court upon the petition or the
further order of the court and forthwith 10 take
possession Professionally Of all the property and
effects Of the debtor, and safely keep the same
until the further order Of the court. copy Of
the petition and Of such order 70 show cause shall
be served on such debtor by delivering the same
o. him personally, OF leaving the same at his
last OF usual place Of abode; or, II such debtor
cannot be found, orhis place of residence hscer-
tanned, service shall be made by publication.
in such manner as the Judge may direct. No
further proceedings, unless the debtor appear
and consent thereto, shall be had until proof
shall have been given, TO the satisfaction Of the
court, Of such service or publication: and II
such proof be not given on the return day OF such
order, the proceedings shall be adjourned and an
order made that the notice be forthwith so served
or published.
Sec. a. And be it further enacted, That on
such return day or adjourned day, AZ the notice
has been duly served on published, OF shall be
waived by the appearance and consent OF the
debtor, the court shall proceed summarily to
lear the allegations Of the petitioner and debtor
and may adjourn the proceedings from time TO
time. on good cause shown, and shall, If the
NohfnF the NnV ID NpmanN in writing
order q trial by jury at the FIRST term Of the
court at which jury shall be IN attendance, TO
ascertain the fact Of such alleged bankruptcy;
and Il, upon such hearing or trial, the debtor
proves TO the satisfaction Of the court or Of the
Jury, as the case may be- that the facts set forth
ia the petition are not true or that the debtor
has paid and satisfied all liens upon his prop
erty, In case the existence of such liens were the
sole ground OF the proceeding, the proceeding
shall be dismissed and the respondent sholl re
Sec. AZ. And be il further enacted. That if the
facts set forth in the petition are found 20 be
true or II default be made by the debtor 60
appear pursuant 20 the order upon due proof Of
service thereof being made, the court shall
adjudge the debtor 20 be a bankrupt, and, a.
such, subject 90 the provisions of this act and
shall forthwith issue a warrant &c take posses
sion Of the estate Of the debtor. The warrant
shall be directed, and the property OF the debtor
shall be taken thereon, and shall be assigned
and distributed in the same manner and with
similar proceedings to those herembeiOre pro-
yided for the taking possession. assignment, and
distribution Of the property of the debtor upon
has own petition. Tho order Of Adjudication of
bankruptcy shall require the bankrupt forth
with, OF within such number of days not oX-
ceeding five sitter the date of the order or notice
thereof as shall by the order be prescribed. 70
make and deliver, or transmit by mall post
paid. 10 the messenger, IA sch sFlule OF the credit
urs and an inventory Of his estate. in the form
and verified In the manner required of % petit
uoning debtor by section thirteen | the
debtor has failed 60 appear In person, OF by
attorney, certified copy Of the adjudication
shall be forthwith served on him by delivery or
publication, in the manner hareinbeiore pro-
Nidod Tor the service of the order TO show cause.
aud N the bankrupt is absent or cannot be
found, such schedule and inventory shall DE
prepared by the messenger and the assignee,
from the best information they can obtain. III
proceed on the return day, or adjourn day the
court may, upon the petition of any other
creditor, 60 the required amount proceed 20
adjudicate on such petition. without recurring
new service OF publication Of notice Ito The
debtor. ''Tr
90 HufERsEnsNG rHE BANKRUPT rUoCEEnTNas by
ARRANGEMENT.
Sec. %. And be 10 further ouacts8 Thai IT, -
the hrst meeting OF creditors or at any ulpetfpsr
81 creditors % be specially called flor that pur-
pose 81 and which previous notice shall have
been given for such leBgth Of time and IN such
msnnor as the court may direct. three-fourthr IN
y alue.uf .he creditors whose claims have been
proved shall determine and resolve that it h. Tor
the interest Of the general body Of the creditors
that the estate Of the bankrupt should be wound
Jp and settled and distribution made among the
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