Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1867-03-20
THE BANKRUPT Law.

portant Bankrupt Bill agreed upon by the
Conference Committees and adopted by each
house of Congress. The President has signed
it. and the Bill is therefore now law of the
land:
AN ACT TO ESTABLISH a UNIFORM SYSTEM
OF BANKRuPTcY THROUGHOUT THE UNITED
STATES.
Be it enacted BY the Senate and House of
Representatives Of the United States of
America in Congress assembled, That the
several District Courts of the United States
be, and they hereby are, constituted courts Of
bankruptcy, and they shall have original ju.
risdiction in their respective districts in all
matters and proceedings in bankruptcy. and
they are hereby authorized to hear and adju-
dictate upon the same according to the pro-
visions OF this Act. The said courts shall be
always open for the transaction of business
under this Act, and the powers and jurisdic-
ton hereby granted and conferred shall be
exercised as we'll in vacation as in term time.
and a Judge sitting at chambers shall have
the same powers and jurisdiction, including
the power of keeping order and of furnishing
any contempt of his authority, as WHEN sitting
in court. And the jurisdiction hare5y con-
ferred shall extend 10 all cases and controver-
sizes arising between the bankrupt and any
creditor or creditors who shall claim any debt
or demand under the bankruptcy to the col
lection Of all the assets of the bankrupt; to
the ascertainment and liquidation OF the liens
and other specific claims thereon; to the ad-
iustment Of the various priorileS and con-
n;cting interests Of all parties; and to the
1narshallins and disposition OF the different
funds and assets, so as to secure the rights ot
all parties and due distribution of the assets
amonc all the creditors and to all acts, mat
tcrs and things to be done under aud in vir-
tue OF the bankruptcy, until the hnal d!sir-
button and settlement OF the estate OF the
BANKRUPT. aud the close of the proceedings
in bankruptcy The said courts shall lave
fall authority 70 compel obedience to all orders
and DEGREES passed by them in bankruptcy,
by process of contempt and other remedial
urocass. 70 the same extent that the Circuit
Courts now have in any suit pending therela
in equity Said courts may Sit for The tranSac-
ton oI business in bankruptcy at any place
in the district. of which place, and the time
of holding court, they shall have given no
ticc. AS we'll as at the places designated by
law for holding such courts.
SEC ,. And be it further enacted. That
the several Circuit Courts Of the United
States. within and for the districts where the
proceedings in bankruptcy shall De pending,
snail have O general superiutendence and
jurisdiction of all cases and questions arising
under this Act and, except when special
provisions is otherwise made, may, upon bill,
petition, OF other proper process, oi any party
i th y
court of Equity. The powers and inrisdic-
ton hereby granted may be exercised either
by said cun:t or bJ any justice thereof IN
fsrn,s time Or vacation. Said Circuit Courts
Shall also have concurrent jurisdiction with
the District Courts Of the same district, OF all
suits at law or in equity which may or shall
be.brought by the assignee in bankruptcy
against any person claiming an adverse inter
est, or By sach person against such assignee:
touching any property or nights CT property
OF said bankrupt transferable 10 or vested iii
such assignee; but no suit at Law or in equity
Shall il any case be naintanabie by or aga!ns!
such assignee, or by or against any person
claiming an adverse interest, touching the
property and rights of property aforesaid, III
any court whatsoever. unless the same STALL
be brought within two years from the time
the cause of action accrued ior or agains.
suc.l assignee; provided, that nothing herein
contained shall revive ight OF action barred
at the time such assignee is appointed.
OF THE ADMINISTRATION OF THE LAW IL COURTS
OF BANKRUPTCY.
Sic. 3. And be ii farther enacted, That it
shall be the duty of tae Judges Of the Dis.
trict Courts of the United States, within and
for the several districts, to appoint in each
Cong-e ,sional district in said districts. upon
the nomination and recommendation OF the
Supreme Court of the United States, one or
more registers in bankruptcy, to assist the
Judge of the District Court in the perform-
ance of his duties under this Act. No person
shall be eligible to such appointment unless
he be u counsellor Of said court, or OF some
one Of the Courts of Record OF the State in
which he resides. Before entering upon the
duties of mis- office, every person so appointed
a register in bankruptcy shall give a bond to
the Unitct, States, with condition that he will
faithfully discharge the duties of his office,
ii sum not less than S 900, to be tixed by
said court, with sureties satisfactory to SAID
court, or 10 either Of the said justices thereof;
a,.d ne shall, in open court, take and sub
scribe the cath prescribed IN the Act entitled
An Act t. prescribe an oath OF oillce, and
for other purposes" approved July :. lSG2,
and also that he will not during his continu-
a9ce iu Office be, directly or indirectly, inter
es:ed in or benefited by, the fees or emolu-
men.s arising from any sn5 or matter pend
ing in bankruptcy, in either the District or
Circuit Court in his di.tcic;
SEC. 4. And be il further enacted, Thai
every register in bankruptcy, so appointed
and qualifi ed, shall have power, and it shall
he hi, duty, to make adjudication of bank
rnncy. to receive the surrender OF any bank
rap! to administer oalhs in all proceedings
be)rc him, 10 hold and preside at meetings
OF creditors. to take p:0ot Of debts, to make
all computations Of dividends and all orders
of distribution. and TO furnish the assignee
with certified copy OF such orders, and Of
the schedules Of creditors and assets filed in
cac! case, to audit and pass accounts OF as
sipnees to grant protection, to pass the last
examination Of any bankrupt IN cases when
eyer the assignee or q creditor do not oppose
aad TO sit in Chambers and dispatch there
such part OF tie administrative business OF
the Court and such uncouLested matters as
Shall he defined in general rules am orders,
or as the District Judge shall in any particu
lar manner direct; and he shall also make
short memoranda of his proceedings in each
case in which he shall ACT, in q docket 10 b."
kept by him for that purpose, and he s'a.
forthwith. as the proceedings are taken, for
ward 10 the Clerk Of the District Court q
certified copy Of said memoranda, which SHALL
he entered Gy said Clerk in the proper mig
u,e-hook TO be kept in his ciiicc and any