Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-03-22

from the possession OF the ASST uee by any proper
action commenced at any time before the Couti
orders the sale
EXAMINATION OF BANKRUPTS.
/ SECTION Is. A1ld be 1t further enacted, That the
Court may, on the application of the assignee III
bankruptcy, or of any creditor, without any APP
plication, at all times require the bankrupt, upon
reasonable notice. to attend and submit to an eN-
animation, oath upon allmatters relating to the
disposal condition of his property to his trade
and dealings with others, and his accounts COLI
coming the same, to all debts due to or claim
ed from him, and to all other matters concerning
his property and estate and the due settlement
thereof according to law, which examination shall
be Ill writing, and shall be signed b. the bankrupt,
and filed with the other proceedings; and the Court
may, ~ like manner, require the attendance OF
any other person as q witness, and if such person
shall fail to attend on being summoned thereto,
the Court may compel his attendance by warrant
directed to the Marshal, commanding him to ar
rest such person and bring him forthwith before
the Court, or before e9ister i'll bankruptcy for
examination such witness. If the bankrupt
is imprisoned, absent, disabled from attend
ance, the Court may order him to be produced by
the JallOr, or any officer in whose custody he may
be, or may direct the examination to be had,
taken and certified, at such time and place and in
such manner as the Court may deem proper, and
with like effect as if such examination had been
had IN Court. The bankrupt shall at all times,
until his discharge, be sublec to the order of
the Court and shall, at the expense of the estate,
execute all proper writings and Instruments, and
40 and perform all acts required by the Court,
touchlnS the assigned property or estate, and to
enable the assignee to demand, recover, and re-
celye all the property and estate assigned wher-
ever stuated and for neglect refusal to obey any
order Of the Court, such bankrupt may be COM
mitted and punished as for contempt of court
Ii the bankrupt is without the district, and unable
to return and personally attend at any of the
times or do any OF the acts which may be specified
or required pursuant to this section, ana if it APP
pears that such absence was not caused bywillful
default, and If, as soon as may be after the reno
val OF such impeachment, he offers to attend and
submit to the order Of the Court in all respects,
he shall be permitted to do so with like effect as
If he had not been in default. He shall also be at
liberty from time to time, upon oath, to amend and
correct his schedule Of creditors and property, so
that the same shall conform to the facts. For
good cause shown, the wife of any bankrupt may
be required to attend before the court to the end
that she may be examined a witness and if
such wife do not attend at the time and place spe
Gifted in the order, the bankrupt shall not be en-
titled to discharge unless he shall prove to the
satisfaction of the Court that he was unable to
procure the attendance of his wife. No bankrupt
shall be liable to arrest during the tendency of the
proceedings IN bankruptcy i'll any civil action, IN
less the same is founded on some debt or claim
from which his discharge III bankruptcy would
not release him.
OF THE DISTRIBUTION OF THE BANKRUPr's ESTATE.
SECTION II. And be 1t further e11dcted That all
creditors whose debts are duly proved and al
lowed shall be entitled to share III the banlIupt's
property and estate pro Tdta without any priority
or preference whatever, except that wages due
from him to any operative, or clerk or house SER
Want to an amount not exceeding fifty dollars, for
labor performed within six months next preced-
ing tho adjudication of bankruptcy, shall be en-
titled to priority and shall be first paid in full
FTOcided, That any debt proved by any person
liable as bait, surety, guarantOr, or otherwise for
the bankru". shall not be paid to the person so
proving the le until satisfactory evidence shall
be produced Q. the payment OF such debt by such
person so liable, and the share to which such debt
would be entitled may be paid into court, other
wise held for the benefit Of the party entitled
thereto, as the Court may direct. At the expira-
ton Of three months from the date of the adjudi-
cation OF bankruptcy in any case, or las much
earlier as the Court may direct, the Court, upon
request of the assignee, shall call general meet
ing Of the creditors, of which due notice shall be
given. and the assignee shall then report, and
exhibit to the Court and to the creditors just and
true accounts Of all his receipts and payments,
verified by his oath, and he shall also produce and
file vouchers for all payments for which vouchers
shall be required by any rule of the Court he
shall also submit the schedule of the bankrupt's
creditors and proper ty as amended, duly verified
by the bankrupt, and a statement Of the whole
estate OF the bankrupt as then ascertaned, of the
property recovered and of the property outstand-
ing specifying the cause Of its being outstanding;
also, what debts or claims yet undetermined,
and stating what sum remains in his hands. At
such meeting the ma ority in value of the credit
Ors present shall determine whether any and what
part of the net proceeds Of the estate, after de-
Quoting and retaining sum sufficient to provide
for all undetermined claims which, by reason Of
the distant residence of the creditor for other
sufficient reason, have not been prov ed, and for
other expenses and contingencies, shall be divided
among the creditors but unless at least One-haf
III value OF the creditors shall attend such meet
ing, either in person or by attorney it shall be the
duty OF the assignee so to determine. In case a
dividend is ordered, the Register shall, within ten
days after such meeting, prepare list of credit
or8 entitled to dividend, and shall calculate and
set opposite to the Of each creditor who has
proved his claim the dividend to which he is en-
titlod out of the net proceeds Of the estate set
apart for dividend and shall forward by mail to
| every creditor a statement Of the dividend to
which he is eutitled, and such creditor shall be
| ma hv in G hp
| may direct.
SECTION %. Ind be it .fiuther enacted, That the
like proceedings shall be had at the expiration of
| the next three months, or earlier ii practicable,
and third meeting Of the creditors shall then be
called by the Court, and final dividend then de-
clared, unless any action at law or suit in equity
be pending or unless some other estate or effects
Of the debtor afterward come to the hands of the
assignee in which the assignee shall, as soon
| may be, convert sucn estate or effects into
| money, and within two months after the same
shall be so converted the same shall be divided in
manner aforesaid. Further dividends shall be
made in like manner as often as occasion requires;
and after the third meeting of creditors no further
! meeting shall be called unless ordered by the
Court. Ii at any time there shall be III the hands
| OF the assignee any outstanding debts or other
property due belonging to the estate, which
| cannot be collected and received by the assignee
without unreasonable or incOnvenient delay or eX-
pense, the assignee may, under the direction OF
| the Court, sell and assign such debts or other
property in such manner as the Court shall order.
! No dividend already declared shall be disturbed
by reason!of debts being subsequently proved, but
the creditor proving such debt shall be entitled to
dividend equal to those already received by the
other creditors before any further payment is made
to the latter. Preparatory to the final dividend,
the assignee shall submit his account to the Court
and file the.same, and give notice to the creditors
| OF such fling and shall also give notice that he
will apply for q settlement Of his account and for
a disc barge from all liability assignee, at a
time to be specified in such notice, aud at such
time the Court shall audit and pass the accounts
Of the assignee; and such assignee shall, if re-
quired by the Court, be examined as to the truth
OF such account, and if found correct he shall
thereby be discharged from all liability as assignee
to any creditor Of the bankrupt. The Court shall
| thereupon order dividend Of the estate and
effects, of such part thereof as it sees
| fit, among such of the creditors have proved
| their claims, in proportion to the respective
amount of their said debts In addition to all
| expenses necessarily incurred by him in the exc
cution Of his trust in any case the assignee shall
be entitled to allowance for his services such
| case on all moneys received and paid out by him
| therein for any sum not exceeding one thousand
dollars, five per centum thereon; for any larger
SUM not exceeding five Thousand dollars, two and
a half per centunl on the excess over five thou
sand dollars and it. at any time, there shall not
| he in his hands a sufficient amount of money to
| defray the necessary expenses required fer the
| further execution of his trust he shall not be
| obliged to proceed therein until the necessary
| r. k.,-4oo