Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-03-15
THE EVENING STAR.
o II &c 4 l..
LAWS OF The UNITED STATES,
Passed at the Second Session of the Thir.
ty-ninth CongI ess

y-ninth Congl ess.
IPUBLIC-No. GIL
AN ACT 10 establish a uniform ystem of bank
rup'ey throughout the United States.
ICo"f'Hhed from yesterdays EoeHing Star)
OF sCrERsEDING THE BANKRUPT PROCEED
INGs BY ARRANGEMENT
SEC. - And be &C further enacted, That If
a. the first meeting of creditors, or al anv meet
purpose, and Of which previous notice shall
have been given fer sucn length Of tine and
IN such manner as the court may direct, three
fourths in value OF the creditors whose claims
have been proved shall determine and resolve
that 81 is Tor the IN terest of the general body
of the creditors that the estate Of the bankrupt
should be wound mp and settled. and distri-
baton made among the creditors by trustees,
under the inspection and direction of a COM
mittee Of the creditors 10 shall be lawful for
the creditors TO certify and report such reso-
lu ton 70 the court, and 10 nominate one or
more trustees TO take and hold and distribute
the estate, under the direction OF such COM
mittee. lift shall appear to the court after
hearing the ban krnpt And such creditors as
may desire TO be heard. that the resolution
was duly passed and that the interest of the
creditors will be promoted thereby. il snail
confirm the same; and upon the execution and
filing, by or on behalf of three-fourths in
value of all the creditors whose claims
have been proved, CT q consent that the
estate Of the bankrupt be wound mp and
settled by said trustees according to the
terms OF such resolution, the bankrupt, or
his assignee in bankruptcy, if appointed. as the
case may be, shall, under the direction of the
court, and under oath, convey, transfer, and
deliver all the property aad estate Of the bauk-
rupt 10 the said trustee or trustees, who shall,
upon such conveyance and transfer, have aud
hold the same in the same manner. and with
the same powers and rights, in all respects as
the bankrupt would have had or held the same
If no proceedings in bankruptcy had been
taken. or asthe assignee In bankruptcy would
have done had such resolution not been passed;
and such consent and the proceedings there
under shall be as binding as in all respects on
any creditor, whose debt is provable, who has
not signed the same, as if he had signed it. and
on any creditor whose debt, il proyable, is not
proved, rs IL he had proved il; and the court,
by order, shall direct all acts and things needful
70 be done 10 carry into effect such resolution
Of the creditors. and the said trustees shall pro-
coed 20 wind up and settle the estate under the
direction and inspection Of such committee of
the creditors, for the equal benefit of all such
creditors, and the winding up and settlement
of any estate under the provisions Of this sec
tion shall be deemed TO be proceedings in bank
ruptCy under this act and ne said trustees shall
have all the rights and powers OF assignees in
Bankruptcy. The court, on the application of
such trustees, shall have power to summon and
examine; or ION oath or otherwise, the bank
rupt and any creditor. and any person in
debted 10 the estate, or known or suspected of
having any of the estate in his possession, or
any other person whose examination may be
material or necessary TO aid the trustees in the
execution of their trust, and to compel the at
tendance of such persons and the produ ction
OF books and papers in the same manner as IN
act; and the bankrupt shall have the like
night 10 apply for and obtain discharge after
the passage of such resolution and the an.
poiniment of such trustees as if such resoiu-
lion had y OF been passed, and as If all the pro.
ceeclngs had continued In the manner pro-
vioee in the preceding sections of this act II
the resolution shall not be duly reported, or
the consent of the creditors shall not be duly
filed, or II, upon its fling, the court shall not
think fit to approve thereof. the bankrup,cy
shall proceed as. though no resolution had
hS.r1 =od be-
cessary orders for resuming the proceedings
And the period of time which shall have
elapsed between the date of the resolu luton and
the date of the order for assuming proceedings
shall not be reckoned in calculating periods OF
time prescribed by this act.
PENALTIES AGAINST BANKRUPTs.
SEC. ~ And be II further enacted, That from
and after the passage OF this act, if any debtor
or bankrupt shall, after the commencement of
proceedings in bankruptcy, secrete or conceal
any property belonging TO his. estate, or part
wlth- conceal, or DESTROY, alter, mutilatr, or
falsIfy, or cause to be concealed, DESTROYED
altered. mutilated, or falsified, any book deed
document, or wiring relating thereto, or re-
move, or cause to be removed, the same or any
part thereof, out OF the district, or otherwise
dispose OF any part thereof with intent TO pre-
vent u from coming into the possession of the
assignee in bankruptcy, or TO hinder, impede,
or delay either OF them IN recovering or re.
ceiylDg the same, or make any payment Gift
sale, assignment, transfer, or CONVEYANCE of
any property belonging 10 his estate with the
L.
Ing. OF shall, Win intent TO defrand, wiilfulIy
and fraudulently conceal from his assignee or
omit from his schedule any property or effec 8
whatsoever: OF ~, IN case OF any person
having, TO his knowledge or belief, proved
a Ialse or fictitious debt ayans. his estate he
shall fail 10 disclose the same 10 his assignee
within one month after coming TO the knowi-
edge or belief thereof, or snail attempt to &C.
count for any OF his property by fictitious
losses or expense; or shall, within three
months before the commencement OF proceed
uIsr an han H al.r rhar aI-
pTetence OF carrying OH business and dealin z
IN the ordinary course OF trade, obtain on
credit from any person any goods or chatte q
with intent 10 defraud: or shall. with in teut O
deirauc his creditors, within three months
next before the commencement OF proceedings
IN bankruptcy, pawn, pledge, or dispose Of,
Otherwise than by bona fide transactions n
the ordinary way of his trade, any of his 20. DIS
or chattels which have been obtained on ere dit
and remain unpaid for, he shall be deemed
guilty OF a misdemeanor, and, upon con yict ON
thereof in any court of the United States, shall
be punished by Imprisonment, with or wi b.
out hard labor, for term not exceeding thI ee
years.
PENALTIES AGAINST OFFICERS
SEC. As And be IL further enacted That IL
any judge, register, clerk, marshal, messen.
ger, assignee. or any other of the several courts
OF bankruptcy shall, for anything done or pre-
tended 10 be done under this act or under color
OF doing any thing hereunder, wilfully demand
or take, or appoint or allow any person what
ever 10 take for HIM or on his account, or for
for him or for any other perssn. any fee
emolument, gratuity, sum Of money or any.
thing of value whatever, other than is AT
lowed by this act. or which shall be aliow wed
under the authority thereof, such person when
convicted thereof. shall forfeit and paw the
sum Of not less than three hundred dol.
lars, and not exceeding five hundred dol
lars, and be imprisoned not exceeding three
years.
SIC. IS And be IL further enacted, That IL auv
person shall forge the signature of a iudg,
register, or other officer of the court or snail
forge or counterfeIt the seal OF the courts or
knowingly concur n using any such forged or
counterfeit signature or seal for the burmese of
auiheBtieatlng any proceeding or documen. .
or shall tender In evIdeace any such proceed
ing or document with a false or counterfet
signature OF any such judge, regi ster, or oth r
Ofhcer, or a false or counterfeit seal of the
court. subscribed or attached thereto knowips
suCh signature or seal 10 be filse or count r.
feI,- any such person shall be guilty OF felony.
and upon conviction thereof shall be liable to
fine OF Lot less Ian five undred dollars and
lot more than fiye thousand dollars and % n /,
Enprlsonsd not exceeding five years al the
dis Gretion OF the court.