North Branch democrat. [volume] (Tunkhannock, Pa.) 1854-1867, 1867-05-08

In the provisions of the new Bankrupt
bill so far as they, effect voluntary applica-
Sons, are now generally understood, but
those which give to creditors the power OF
proceeding to make their debtors bankrupts
are not so well known. They are much
more extensive than like provisions in for
mer acts, which have been in force in this
country. and they are important to be un-
derstood. The causes which will author
ize creditor to proceed against his debtor
are as follows: .T,.
First. The voluntary departure Of the
debtor from the State, district or Territory
of which he is an inhabitant, with intent to
to defraud his creditors.
Second. Concealment by a debtor, to
avoid the services of aelegal process, in
any action Of debt or upon demand.
Third. Concealment or removal of prop
erty, to prevent its being attached, taken
or sequestered on legal process,
Fourth. The assignment, gift, sale, con-
veyance or transfer of estate property,
rights or credits, in this country or abroad,
with the intent to delay, defraud or hinder
creditors.
Fifth. Being arrested and held in custo-
dy under mesne process of exclusion for q
debt valid and provable under the Bank
rupt law eqceeding one hundred dollars, if
such process is not charged by payment
or by law within seven days.
Sixth. Actual imprisonment by process
IN civil action npon demand exceeding
one hundred dollars, founded on contract
for more than seven days. ......-
Seventh. The payment, gift or transfer,
sale or conveyance of property or money
to anv person in contemplation of bank
ruptcy, the party being bankrupt or insolv-
ent at the time. -.........
Eighth. Giving warrant to confess
Judgment, in contemplation of bankruptcy.
Ninth. Suffering property 10 be taken
in execution, or on legal process with an
intent to give preference to one or more
creditors .... .....
Tenth. Suffering property to be taken
in execution, or on legal process with, in
tent to Q We prefeence to indorsers, bail,
or sureties, with intent to delay or to defeat
the operations of the act.
Eleventh. The fraudulent stoppage or
suspension BY banker, trader or merchant
of payment Of his commercial paper not
resumed within fourteen days. ..-..
Any person thus liable for the acts dss-
ignsted may be made a bankrupt within
six months after their preparation, on the
petition of one or more of his creditors, the
aggregate of whose debts amount to $3.50.
Nor is this all The transaction which
caused the bankruptcy is void, and tue as
signs may recover back property transfer
ed or money paid by the bankrupt; pro-
vided, that the person receiving it had rea.
sonabIe cause to believe that a fraud was
intended, or that the debtor was inso!veat
And furthermore, such person so implica.
Ted in the fraud, if a creditor, shall not De
allowed to prove his debt against the bank
rupt, and, must loose it altogether.
1t will thus be seen that this act not on
" gives to the debtor who has been hones
but unfortunate, the means of relieving
himself from bis burden, but it guarantees
to the creditor remedy against fraudu
lent practices; renders dispositions of prop
| erty in favoritism and preference void, anC
Furnishes not only the party making sucf
preference, but him who is to receive the
benefit. Against involuntary bankrupt
orders of arrest and Imprisonment may bt
issued, and they may be either confined oil
made to give bail for their appearance
These regulations may effect business very
much, and it is she duty Of every one hav
ing transactions with others to make him
selfmaster of the directions of the law, sc
that he shall not render himself innocently
liable to punishment. e