The Hillsborough recorder., 1867-03-27

net proceeds Of the estate set apart for Rivi~
dend, and shall forward by mail to- every
creditor statement Of the dividend to
which be is entitled, ,..and such creditor shall
be paid BY the assignee in such manner as
the court may direct.
Section 90 proyides that the like pro-
ceedings shall be had st the expiration Of
the next three months. or earlier'if practi-
cable, snd third meeting Of the creditors
shall then be called by the Court, and 8.
nal dividend then declared, unless any ac-
tioa in law Or suit in equity be pending. o.
unless some other estate or effects Of the
debtor aflerwa' dc come into the hands Of
the assignee, in which case the assignee
shall, as soon as may be. convert such es-
tate or effects into money, and within two
months after the same shaA be so eonv efted
the same shall be divided in the manner
aforesaid. Further dividends shall be made
in like manner rs often Us occasion re-
quires; and after The third meeting of cre-
ditors, no further meeting shall be called
unless ordered by the Court. II at any
time there shall be in the hands Of the as
signee any outstanding debts Or other pro-
perty due, or belonging to the estate, which
cannot be collected and received by the as
signee Without unreasonable or inconven-
lent delay or expense, the assignee may.
under the direction of the Court, sell and
assign such debts or other property in such
manner as the Court shall orde.. No divi.
dend already declared shall be disturbed by
reason Of debts being subsequently proved,
but the creditor proving such debt shall be
entitled 10 dividend equal to those alrea-
dy received by the other creditors before
any further payment is made 10 the latter.
Preparatory 10 the 6nal dividend, the as.
signee shall submit his account to the Court.
aud Gle the same and give notice to the
creditors Of such 6hng and shall also give
notice that be will apply for settlement
Of his account, and for discharge from all
liability as assignee. at time to be speci-
/, fed in such notice, and al such time the
Court shall audit and pass the accounts Of
the assignee; and such assignee shall, IL
required by the Court. be examined as to
the uoth Of such account, and II iouud COR
rect he shall thereby be discharged from all
liability as assignee TO any creditor Of the
bankrupt. The Court shall thereupon or
der . dividend of the estate aud effects, or
Of such part thereof as Il sees ht, among
such Of the creditors as have proved their
claims. in proportion 10 the respective
amount Of their ssid debts. 10 addition 70
all expenses necessarily incsrred by him
10 the execution of his trust, in any case,
the assignee shall be entitled to al allow
anee for his services in such case, on all
monies received and paid out by him there
in, for any sum not exceeding one thousand
dollars, 6ye' per eentum thereon on any
larger sum, not exceeding five thousand
dollars. two and half per centum on the
excess over 1--WE shousa dollars and II at
any time there shall not be 10 bis hands .
sufficient amount Of money 70 defray the
necessary expenses required for the fnr-
ther exeeution Of his trust, he shall not be
obliged to proceed therein until the neees.
sary funds are advanced or satisfactorily
secured TO h,m. If, by accident, mistake,
or other cause, without fault Of the assignee.
either or both Of the said second and third
meetings should not be held within the time
limited. the Court may. upon motion o. an
interested party. order such meetings. win
like effect ss TO the validity ofthe proceed
ings a. " the meeting had been duly held.
In the order for dividend under this sec
lion. the following claims shall be entitled
TO- priority or preference. and to be hrst
paid in full 10 the following order:
Pint. The fees. costs and expenses oi
suits, and the several proceedings IN bank
ruptcy under this act. and for the custody
Of properly, as herein provided.
Second. All debts due 10 the unned
States, and all taxes and assessments under
the laws thereof.
Third. All debts due to the State 10 which
the Proceedings in Bankruptcy are pending.
and all taxes and assessments made under
the laws Of such State,