The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-03-09

apparel OF such bankrupt, ana tnaI OI nls Vic anu
children, and the uniform arms and equipments Of
any person who is or has been soldier in the
militia or in the service Of tho United States;
and such other property as now ls, or hereafter
shall be, exempted from attachment or SEIZURE
or levy on execution by the laws OF the United
in the foregoing exceptions, as is exempted
from levy and sale upon execution or otner
process or order Of Court, by the laws OF me
State in which the bankrupt has his domcle at V!o
time of the commencement OF the proceedings ~
bankruptcy, to an amount not exceeding that a.
lowed by sucl State exemption laws In force IN the
year 1854 And provided further, That no mort n,
gage of any vessel or of any other goods or chat-
tells, made as security for any debt or depts, IN
good faith and for present considerations ana "a
Otherwise valid, and duly recorded pursuant to
any statute of the United States or OF any S5ate,
shall be invaldated or affected hereby; and all the
property conveyed by The bankrupt IN raud OF ms
creditors; all rights III eq,nty, ehoses IN ae!ol
debts duo him, OF any person for his use, and all
liens and securities therefor; and all his rights OF
action for property or estate real or personal and
for any cause Of action which the bankrupt had
tho unlawful taking or detention, or Of injury to
tho property Of the bankrupt; and all his rights OF
redeeming such property or estate, with the like
right, title, power and authority to sell, manage
dispose Of sue for, and recover or defend Inc same
as the bankrupt might or could have had II no as
sigDment had been made, shal be at once vested
in such assignee; and lie may sue tor and recover.
No person shall be entitled to maintain an acaon
AGAINST an assignee for anything done by him as
assignee, without giving him twenty, Day, nouoo
| of such action, specifying the cause thereof.
Is. The assignee may sell the real estate 3. ana
personal property for the benefit OF the creo'ois
subject to the orders OF the conrt
| 1G The assignee may be sued In MS OWN naiio
| to recover all the bankrupts estate.
II. Tho assignee shall deposit separately all
moneys he receives, or the court may oroer Ien
norary investment thereof In case oISon1ro'ei-
sy arbitrators may be appointed. e.,
| IS. Assignees may be removed py Tue cou' ioi
| cause. - 4,,o 4;,,o
ID. All debts due from the bankrupt at the time
of 5he adjudication, and all debts then existing,
but not payable until future day, rebate OF ~
terest being made when no interest ls Payaple py
the terms Of contract, nay be proved against the
estate I h Of the bankrupt. All demands against the
bankrupt for or on account of any goods or chattes
Wroncfully taken, converted or withheld by nm,
nav be proved and allowed as debts to the amount
of the value Of the property 80 taken OF aS
drawer, indorser, surety, bail, or guarantor upon
INV bi bond, note, or any other speciality or con-
tract, or for any debt of another person. ana i ms
liability shall not have become absolute until AFTER
The adjudication or bankruptc the credltor may
move The same after such Ii. oility shall have be.
como fixed, and before the final dlVloeno Snail
have been declared.
20 In all cases OF mutual debts or mutual credits
between the parties the account between tna,a tha
other, and the balance only shall be allowed or
paid but no set-off shall be allowed OF claim IN
it's nature not provable against the estate.
2l No creditor proving his debt or claim small DO
allowed to maintain any suit therefor agalnse tnH
bankrupt. but shall be deemed to have waived al
right Of suit against the bankrupt and al proceed
ings already commenced, or unsatst1ed Judgments
already obtained thereon, shall be deemed to oe
discharged and surrendered thereby; and no STed-
thia acE 9hall be
allowed to prosecute to final Judgment any suit at
law or in equity therefor against The bankrupt,
until the question of the debtors discharge shall
have been determined. !. :,
made before register or q Unlned States Com
missioner.
g. II the validity of claims is questioned, proof
may be postponed till the assignee Is CHOSEN; ~
"a. Creditors appealing to the Circuit court snau
file written statements OF claims.
25 Perishable articles belonging to the debtor
may be sold by order Of the court, the assignee
holding the proceeds.
26. Banlrupts to be examined on oath, and to be
subject to the order Of the court. wives OF panR-
| rupts may be summoned as Witnesses. ;,
81 In the distribution Of the bankrupts estate,
all creditors shall share pro rata. -, 49,,
| %. The final dividend to be made at the thlro
meeting Of creditors after decision of the case as-
siynees receiving per centago for their services.
| In the order for q dividend the folloWlng cla1ms
shall be entitled to priority or preference, and to
be first pal. in iull In the following order:
First-T:.e fees: costs and expenses OF suits,
this act and for the custody Of property as mere
second-AIl debts due to the United States, md
all taxes and assessments under the laws thereot
HIhird-All debts due to the State IN Whlcn tne
proceedings in bankruptcy are pending, and al
taxes and assessments made under the laws OF
| such State - IS = g
FourthIWagss due to any operative, clerk Or
house servant, to an amount not exceeding soV,
labor performed within six months next proceed
ing the first publication OF the notice OF proceed
! ings in bankruptcy.
| fifth-Au debts due to any person who, by the
laws of the United States, arc or may be entitled
to priority preference in like manner as TINS
| net had not been passed Always provided, That
nothing contained in this act shall interfere with
Che assessment and collection Of taxes by the au-
thority Of the United States or any State.
49, A discharged bankrupt is entitled to pubic
notice Of his discharge, by letter to creditors and
| by advertisement in newspapers.
3O No person discharged under this act, who
shall afterward become bankrupt, on his own ap-
plication shall be again entitled to discharge if
his estate is insufficient to pay seventy per centum
of the debts proved against it, unless the assent In
writing Of threefourths in value Of lls creditors
who have proved their claims, is fled at or before
the time OF application for discharge, but bank
rupt who shall prove to the satisfaction OF the
court that he has paid all the debts owing oy him
at the time Of any previous bankruptcy, or who
has been voluntarily released therefrom by his
creditors shall be entitled to q discharge in the
same manner and with the same effect as If ne had
not previously been bankrupt.
81. Any creditor opposing the discharge OF any
bankrupt, may file specification in writing OF the
grounds Of his opposition and the court & may N
sented to be tried at o stated session of the dis
trict court.
50. It shall appear to the court that the bank
rupt has in al things conformed to his duty under
this act and that he is entitled, under the pro-
visions thereof to receive . discharge the court
shall grant him discharge from all his de BITS ex-
cept as hereinafter provided, and shall give him o
certificate thereof under the seal Of the court in
substance as follows:
sD1sTR1cr Court OF THE UNITED sTATEsID1s-
TIICT OF. Whereas - has boon duly ad-
Judged il bankrupt under the act Of Congress es-
| tablishiug q uniform system OF bankruptcy
throughout the United States, and appears to have
conformed to all the requirements OF law IN that
| behalf it is therefore ordered by the court that
said - be forever discharged from all debts ana
claims which by said acts are made proVable
against his estate, and which existed on the
day of -, on which day the petition for adjudi-
| cation was fled by Tor against) him; excepting
| such debts, if any, as are by said act excepted
Given under NV hand and tue seal ct the court, at
=, in the said district, this = day o.: D.
sS No debt created by the fraud or embezzle,
ment of the bankrupt, or by his defalcation as a
mblic officer. or while acting in any 6ducary char
acter, shall be discharged under this act,
81 discharge granted under this act shall re-
| lease the bankrupt from all debts, CLAIMS, Aaplii-
proved bro against his estate in bankruptcy, and may
be pleaded, by simple averment that on the ca day
of its date such discharge was granted to MN, SET
ting the same forth in hgc 0eroa, as 1un ana
complete bar to all suits brought on any such
debts, claims, liabilities or demands, and the Ger
tfcate shall be conclusive evidence IN iaVor OF s9ch
charge
s.. Preferences and fraudulent conveyances are
declared void
| &c. This section provides for the bankruptcy OF
partnerships and corporations.
The remaining sections provide for involuntary
bankruptcy for sqpercedng bankrupt poeeesEg
and officers of the court and for fees and costs,
and do6ne the meaning of terms and the computa-
ton of time. The law goes into effect trom the
Jo4o q ;&.o b,,t6 t6op pyaaiTanf