The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1867-03-14

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,yThc Banhrppt krt sircsjurisffction
u all cases spds It to the United st.tes
District Cou "a, bbject tos = REF ew Of
proceedings ~ no Circuit Court One
or moreaRea .t<s. to be dDunss.ors IN
the Distfct Courts, to assist the Judges |
in heirdaAes, are to be appointed on I
nomination OF the Chief Justice of the
Supreme -Gcurt.--fh he Register is-to re
ceive sRvender spresidsr in cases of
Bankruptcy, aud adjust the assets to the
dcbts. 80 voluntary bankruptcy can
be declared on less than $500 indebted
ness, and the debtor must be, or become
a Tcitizen Of the United States, Should
the bankrupt die pending proceeding.
the case is 70 90 on as II he were alive.
The creditors are to appoint an assignee
or assignees Of the debtors estate.
"a E~erythfng shall be turned over ex-
cept necessary household and kitchen
furniture, and such other, articles and
Fneccessaries as the assignees shall desig-
nate, having reference 20 the circum
stance. OF the bankrupt, but not to ex--
ceed in valae $500, in any case; and also
the wearing apparel Of the family, and
such other property as may be exempt
! from taxtiofii or seizure on execution.
Full power given to secure all the
property and credits Of the bankrupt,
the assignees having power to choose
farbitrators in cases of disputed posses
sion. Substantially, the rules govern
| ing the estates Of deceased persons are
! adopted in bankruptcy. All claims by
1 creditors must be verified on oath, The
bankrupt. and, if necessary, his wife,
may be examined by the Court as to his
affairs Servants wages, under $50.
/ have tile first claim. aud second, all the
claims pro fro.a, except when the bank
rnpt has become bail or surety or guar
! ,antor for another. go, ...s..s.-
At the expiration Of three months
from the adjudication, or as much earlier
as the Court may direct upon request Of
the assignee, there shall be meeting Of
the creditors, to whom full report shall
be madc, and the majority Tin value OF
the creditors shall then determine what
! part OF the net proceeds shall be divided
and within ten days she assignee shall
set opposite. the name of each creditor
the amount to which he is entitled, to be
paid as the Court shall direct. AT the
end of the next three months, similar
meeting shah be held, and similar pro
ceeaings had. Further dividends shall
be IN adc in like manner, as occasion may
require, and alter the third meeting nc
other meeting shall be held except on or
der of the Court - Mia ..... zi-.aI c..
No dividend already declared shall h'
i disturbed by reason of new claims being
4 proved, i but they shall be met out Of fu
| ture proceeds Preparatory to the fina
settlement the assignee shall fle his &C
count with the court, and, give notice
thereof in view of his discharge, and il
found correct he SHALL be ,di4ssA1
cd 5 per cent. and his expenses on all
claims not exceeding $1,000, on all sums
E OF $4,000 and over q per cent
i The following cl.,ims shall have pre-
4 ference:
u. The fees, costs and expenses OF
suits and the several proceedings in bank
.ruptey under this act, and for the custo
.dy OF property as herein provided.
=. All debts due to the United States.
and all taxes and assessments under the
laws thereof L. SHIGAsA& EzAH a-
/ 3. Alldebts to the State in which the
proceedings in bankruptcy are pending,
(. and taxes and assessments made under
| the laws Of such State - 81 -
z 4. w ages due to any operative, clerk
or house servant, to- an amount not ex
ceeding fifty dollars, labor performed
within six months next preceding the
first publication Of the notice Of proceed
ings in Bankruptcy sd.a2c4 = e 81 2
= D. All debts due to any persons who,
by the laws Of the United States, are or
may be entitled TO "a, priority or prefer
ence, in like manner as, if this aes had
not been passed -4lssays proy.isd, That
nothing contained in this act shall inter-
fere with the assessment and collection
Of taxes by, the suthority Of the United
States or any State. susfaa- "a
The bankrupt is then to be discharged,
iand no person shall be entitled second
time to the benefits of the act whose es-
tate is insufficient to pay 70 per cent, on |
his debts, unless on the written assen. of
in value of his creditors !
can file .his objections to
the discharge of abankrups, and the
Court will inquire into them, No one
Who has failed by reason, Of debts incur-
red in fduciary capacity, shall be al.
lowed the benefits of bankruptcy. Part
aers can have the benefit under the rules
for winding up partnership business. /
Persons absent with the intent to de-
fraud may be proceeded against under
The act inca m amer siaailar 70 that sorsll
iinarily pursued: At any meeting of
he creditors "a above tfescrihad three