Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1867-06-13

Hts Leading Provisions.


- The bankrupt law passed at the last SEES
sion of Congress went INTO tnll operation
Provision isanade, twill befenienbeged,
for the bankruptcy Of partnerships and of
corporations, and for the supersedure OF
| the bankrupt proceedings by arrangement
benefit Of the act who owes debts exceed
ing 5000, by applying by petition to "the
Judge of the judicial district in which such
person has resided or carried on business
forthe six months next Immediately preced-
ing the time of filing such petition, or for
| the longest period during such six months
setting forth his place of residence, his-in
ability to pay all his debts in full, his will
jngness to surrender all his estate and
effects for thesbenefit of his creditors, and
his desire toohtain the beieftgOf this ACT
and he must annex to his petition a
schedule verified by. oath, before the court,
or before register I'M bankruptcy, or be-
fore one of the commissioners in the cir.
cult court dfathe United States, containing
a full and TRUE statement OF all his debts,
and as far as possible, to whom due, wltk
4 the place of residence of each creditor II
known to the debtor, and II not known the
fact to be so stated, and the sum due to
each creditor; also the nature of each debt
or demand, whether founded on written
security, obligation, contract or otherwise,
and also the true cause and consideration of
such Indebtedness, in each case, and the
place where such indebtedness accrued, an
o statementssof any existing Inortpa &c,
pledge, lien, Judgment, or collateral, or
other security given for the payment of the
same and shall also annex to his petit
an accurate inventory, verified in like man
ner. of all his estate, both real and per-
sonal." Notice of the proceedings must be
given to all creditors, and the property is
to be turned over to an assignee for their
benefit. Z. There sis-excepted- from thu. pro-
visions fzthe act the necessary house
8 hold and Kitchen furniture, and such other
Particles and necessaries of such bankrupt
as the said assignee shall designate and SET
apart, having reference in the amount to
the family, condition and circumstances Of
the bankrupt, but altogether not to exceed
in value, in any case, the sum OF $500; and
j also the wearing apparel of such bankrupt,
Iand that Of his. wife and childen, and the;
4 uniform, arms and equipments of any per-
son who is or has been soldier in the
miliatia or in The service of the U nlted
States and such other property as now is,
or hereafter shall be, exempted from at
tachment, or seizure, or levy on execution
by the laws of the, United States, an such
other property, not included in the fore
going executions, as is exempted from levy
and sale upon execution or other process
or order of any court by the laws of the
State in which the bankrupt has his dOmi-
Gle at the time of the commencement of
the proceedings in bankruptcy, to an
amount not exceeding,that allowed by such
State exemption laws inforcesin the year
{, 1864" ~
Six months after the adjudication Of
bankruptcy, after publication in the news
papers, certificate is given the bankrupt
: discharging him forever from his debts ex-
listing at that time. Amy person owing
!, debts may Involuntary be declared q bank
: rupt, who shall depart from the State,
district or territory. of which he Is an in
habitant, with intent to defraud his cred
itors or being absent shall, with such in
, tent; remain absent; or shall conceal him
. self toavoid thess service of legal processin
an action for the recovery of a debt or de-
mand provable under this act or shall
conceal or remove any of his property to
4 avoid its being attached, taken or seques-
tered on legal process; or shall make any
assignment, gift, sale conveyance, or trans
fer of his estate, property, rights or credits,
either within the United States or else
! where, with intent to delay, defraud or
, hinder his creditors, or who has been ar
rested and held in custody under or by
virtue of any process of execution, issu-
ing QUITO any court of any State, district
: or territory, within which such debtor re-
,, sides or has property, founded upon a. de
; mand in its nature proyable against bank
rupt's.cstate under this act, and for a sum
exceeding 500, and such process is re-
: naming in force and not discharged by
! payment, or in any other manner provided
by the law of such State, district or terri
tory applicable thereto, for a period OF
seven days; or has been actually impris-
;, oned for more than seven days in a civil
: action, founded on contract, for the sum Of
800 or upwards; or who, being bankrupt
: or insolvent or in contemplation of bank
g ruptey or insolvency, shall make any pay.
ment, gift, grant, sale, conveyance or trans
: fer of money or other Property, estate
rights or credits, or give any warrant OF
confess judgment, or procure or suffer his
property to be taken on legal process, with
: intent to give preference to one or more
of his creditors, or to any person or per
sons who are or may be liable for him as
indOrsers, bail, sureties or otherwise, OF
with the intent, by such disposition OF his
l property, to defeat or delay the operation
f of this act !. or who, being a banker, mer
t chant or trader, has fraudulently stopped
l or suspended and not resumed payment O
+ his commercial paper, within a period o
!, fourteen days." The duties of registers IL
q bankruptcy are, '"To make adjudication o
:, bankruptcy, to receive the surrender @
0 any bankrupt, to administer oaths in al
!, proceedings before him, to hold and pre-
: side at meetings of creditors, to take proc
+ of debts, to make all computations of divi
+ dends and all orders of distribution, and t.
n furnish the assignee with a certified copy
r of such orders, and of the schedules o
n creditors and assets filed in each case, t.
y audit and pass accounts, of assignees, t.
d grant protection, to pass the last examina
o ton of any bankrupt in cases .wheneve
the assignee or a creditor do not oppose
h and to sit in chambers and dispatch Their
: such part of the administrative business @
), the eourtEand such uncontested matters
O shall be defined in general rules and orders
It or as the district judge shall in any partIc
e ular matter direct and he shall also max
e short memoranda Of his proceedings i
k each case in which he shall act, in a docket
! to be kept by him for that purpose.
It 'sta b4fts fi5s ---------se-S 500 sfYa5s.
is So sharp Lessons. ..jat3. g.,
IL 4osg
u Under the reign of the first caliphs ther
+ was a merchant at Bagdad equally rich an
y avaricious. m @as 49, e =, = /, (,
e. Ono dow no barpained with porter