The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-06-11
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Tho Bn Iikrupt Lnv.

y
IN iuu operation, summary Of its principal pro-
visions will bo Of nse The not provides for VOL
untary % and involuntary bankruptcy, for tho bank
for tho superooduro OF the bankrupt pracoodinEs S
by arrangement g ANY person may voluntarily
obtain tho benefit OF tho act who owes debts ex-
Judge Of tho Judicial BaFct RWhieh such paro sno
son has reaidod or carried on business for tho
OF filing such petition or for tho longest period
during such six months, setting forth his place
o. e residence his inability to pay NIL hia debs in
effects for tho benefit Of his creditors ind His de-
BIO to obtain tho benefit Of this act and ho m st
annex TO his petition schedule verified by oath
ruptcy, or bofore ono Of tho Commissioners of the
Circuit ourt Of tho United Stntes, Containing n
full aud tru9 statement of all his dobts, and, aa
far as possible, to whom duo with tho placo OF
residence OF cnch creditor, II known to tho dobtor
and If not known, the fact to DO so stated, and
the sum duo to each creditor; also tho nature of
ten security, obligation, Contract, t or othorwi MIG e.
and also tho true CAUSE and consideration OF such
indebtedness. in each case, and tho pluco where
SUCH indebtedness accrued, and statamont Of
any existing maSSp.gago pledge lien pdsRsnt
an accurate inventory verified in like lnanner' Of
all!his estate, both real and personal Notice OF
tne Pfoeeodinga must bo given to all creditors,
ana The property is to be turned over to an
assignee Tor thcr benefit. Thoro is excepted from
tho provisions Of tho act tho necessary household
and kitchon furniture, and auch other articloa
and nocossarios Of such bankrupt as the said
mss gnee shnll designate and eet apart hnv:
llEE, condition and circumstance af2, ils ths
nn9 Ssso ~ o sag u S9t aa S III %
~ Parel ot suoh banku end that ~ he e ,is
~ On, and tho Uniform, arms, and equipments
OF ~ person who ia Or has been q soldier in tho
nlItin or in the serrlco Of tho United States and
such other property as now is, hereafter shall
DO, exomptcd from attachment or seizure or levy
on execution Dy tho laws Of the United States, and
such otlor property not included in tho foregoing
exceptions. ns is exempted from lcry and saIo
court BY tho laws cf tho ststo in Which the Il bank. I
nlent OF the proceedings in bankruptcy. To on
amount not exceeding that nllowed by such State
exemption. si laws IN in force IN tho year 1884,
- six months aiter tho adjudication OF bankrupt
cato ia given the bankrupt diHcharging him for
ever from all HIS debts exising at that time, ANY
IanHr Who sIa 1oparf on tSo g s.sss sssifPG pis
triGt or Territory of which ho ia an inhabitanI,
Win intont TO detraud ms creditors or being ab-
aeht shall, with such intent, remain absent; or
Shail conceal himself to avoid tho aervco OF legal
process IN Any action for tho recovery of debt or
demand &c provable under this Acti or shall conceal
1ttnched, taken, or scquestcred on legal pro-
cess; or shall mako any assignment, gift, salo,
ss or eseds q either III eatasi within fSo
United States or elsewhere, with intent to
delay, defraud, or hinder his creditors. or who
nus boon arrested and held in custody under by
any court of any State, district or Torritory with
II wrich such debtor resides or has property,
founded upon demand in It's nnturo proyable
against bankrupts estate uudor this act, and for
sum exceeding one hundred dollars, and such
process is remaining In force md not d, .chargod
by payment, or in any other manner provided
by the Law of such State, district Territory APP
plicable thereto, for q period Of seven days Or
has been actually imprisoned for moro than seven
days IN civil action, funded on contract for the
sum OF one hundred dollars upward or who,
bong bankrupt or insoyent, or In contemplation ol
bankruptcy or Insolvency, shall make any payment
gilt, grant, sale, conveyance or transfer Of money
othor PROPERTY, estate rights or Credits or give
any whHIraEs to confess Judgment or procure d
with intent TO give preference to one or moro o
his creditors or to any person or porsons who arc
or may be liable for him as ihdorsers, bail suretios
or otherwise, or with the intent, by such dispoi.
ton OF his property, to dofeat or delay the oper \
ton OF this act; or who, being banker, merchau,
| or trader, has fraudulontly stopped or suspended
aud not resumed payment OF hiB commercial
duties OF registers in bankruptcy arc, hIo mako
adiulieetioR Of bankruptcy, TO receive the
sTSndor ri of any banhhS sdhster oas
roa, preside, ., dat,. q meetings e Sf eIedto .ae
dends and all orders Of distribution and 10 furnish
tho assignee with oor!iled copy OF suoh orders
in each caso to audit aud pass accounts Of assign
eeH. to grant protection, to pass the last examna,
ton OF any In cases whenever the assignee
sESatcS 90 not oppose and to sit in chamber,
business OF the Court and such unconteated mat
tors ns shall be defined III general rules md ordars
or o.. the district Judge shall in any .partiou1a,
oranda OF his proceedings in each case in which
no shall act, in q docket 70 be kept by him for tha
purpose" ' Ii :