Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-03-07
VOL. iXXXIV.p5.

as soon as may be. convert such 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 i
manner as often)as occasion requires; and.
after the third meeting of creditors, no
further meeting shall be called unless orr
dered by the conrt. il at any time there
shall be in the hands Of the assignee any
outstanding debts or other property, due
or belonging to the estate, which cannot be-
collected dandrPeeived by the assignee with \
out unreasonable or inconvenient delay. or
expense, the assignee may, under the direc- d
tiOn of the court, sell and assign such debts
or other property in such manner as the ID
court shall order. No dividend already
declared shalli be disturbed + by reason of
debts being subsequently proved, but the
creditor proving such debt shall be- enti@
tied 60 a dividend equal to those already O
received by the other creditors before anyo,
further payments are made to the latter. Z
Preparatory to the final dividend, the as, q
signeeshalf submit his account to the court,
and file the same. and give notice to the n
creditors of such filing; and shall also give {
notice that he will apply for settlement i:
ofahisE account, and fora discharge from
adj liability as assignee, at. a time. to be
sDecifiedsin such notice. and at such time
the court shall audit and pass the accounts
of the assignee; and such assignee shall, II
jrequtred by the court, be examined as tor
the truth of such account, and if found 6
.correcth he shall thereby be discharged from
all liability as assignee to any creditor OF =
the bankrupt. z The court shall thereupon
order q dividend of the estate and, {
effects or of such part thereof as it sees .
Eilamong such f0f the creditors as have Il
proved their claims, in proportion to there
spectiye amounts of their said debts. In
addition to all expenses necessarily incur .
red by him in the execution of his trust, in 2
any case, the assignee shall be entitled to-
an allowance for his services in such case,
on all moneys received and paidout by him
therein, for any sum not exceeding one
thousand dollars, five per centum thereon;
for anyflarger sum not exceeding five thou- I
sand dollars, two and half per centum on
the excess overifive thousand dollars; and
if at any time there shall not be in his
hands a.sufficlent amountsof money to de-
fray the necessary expenses required for
the further execution of his trust, he shall
not be5obliged TO proceed therein until the
necessary funds are advanced or satisfaeto-
rily secured to him. IF, by accident, mis-
take, or other cause, without the faultOf
the assignee, either or both of the said sec1.
ond and third meetings should not be held
within theo times, limited, the court may
upon motion of an interested party, order
such meetings. with like effectas to validity
of the proceedings as If the meeting had
been duly held.zTn the order for dividend
shall be- entitled to priority or preference,
and to be first paid in full in the following
70 First The fees, costs and expenses of
suits and the several proceedings in bank
ruptcy under this act, and for the custody
of property, as herein provided.
Sscond. All debts due to the United States,
and all taxes and assessments under the
laws thereof. -i1iiaeFu7o oiss1ooaasd
Third. Ali debts due to the State in which
theg proceedings in bankruptcy are pend
ing, and all taxes and assessments made
under the laws of such State. sq4 3a sir-+s.
Fourth. Wages due to any operative, clerk
4 Or house servant, to an amount not exceed
i ing $50y labor performed within six months
i next preceding the first publication of the
notice of proceedings in bankruptcy.
Fifth. All debts due to any persons who,
by the fawsOf the United States, are or may
sbeI entitledto authority or preference, 10
like. manner. as If this act had not been
passed. ,AElcdls provided, Thatnothing con-
tanned in this act shall interfere with the
assessment and collection of taxes by the
authority of the United States or any State.
Section 20 provides for the full discharge
of the bankrupt six months after cOmpi-
ance with the above conditions, in entire
honesty and good faith. H0A}&ECaGsA
Section 80 declares that no one shall be
entitled a second time to the benefits OF
bankruptcy whose estate is insufficient to
7 pay ~ per CcIlGulH Va uIS u0UlS, uIftCSS upon
the written assent of three-fourths of his
creditors iB.yalue.
Section 3rprovides that any creditor op-
posing the discharge of any bankrupt may
file specification In writing of the grounds
of his Opposition, and the court may, in its
discretion, order any question of fact so
presented to be tried at a stated session sof
the District Court. Il ~ 7sr, =. eft i5;,,s1r
ID Sections 81 33 and "a forbid the benefits
of bankruptcy to one whose debts have ae-
crued from their, failures when in fiduci-
ary capacity. and provide fer the full and
final discharges for the honest bankrupt as
| follows n 0ro59f,eI '4l 10 s-p5D -iG t4q 81 l3B
DsTRIcT CoURToF THE UNITED STATES
| DISTRICT OF. ----.--Wherea --------g has
been duly adjudged a bankrupt under the
act of Congress establishinga uniform sys-
] tenn of bankruptcy throughout the United
| States, and appears to have cOnformed to
j all the equirements of law in his behaiEIit
is therefore ordered by the court that said
1s----- be forever discharged from all debts
and claims which by said act are made
provable against his estate, and which eX-
listed on the - day of =, on which day the
petition for adjudication was fled by or
against him excepting such debts, if any,
as are by said act excepted from the opera
tionOf a discharge in bankruptcy. Given
under my hand and the seal of the court,
=. AID. ~
+ ISeaI. ]*-'a
:. Sections 36 and 81 provide for the extern
i sionot the acts to parties in partnership,
4 and. for the liability of the same kind of
! property as now obtains in ordinary wind
ing up of partnership concerns.
! Section 3S requires the due filing of all
,|papers in the case in the order of their date,
and classified as to title of subject matter.
~ Sections 80, 40, Al and 40 provide that
Il persons absent with intent to defraud cred
4 itors, or who take any method to forestall
4 the1egal service of just and proved claims
against them, are to have their property pro-
4 ceeded upon at the demands of the credit
ors, who are to follow the same measures
/ they would were the bankruptcy upon vol
nntarY application ~
! In which case service of due notice upon
Z such debtor to appear is to be made in the
same way, either by personal waiting upon,
or by publication,E as is now pursued in
civil State actions; his non-aDpearance
, within the time specified, causing the
claims to go against him by default, which
: can afterwards be remediedfor cause shown.
: SEC. 43. And be it further enacted, That if
atsny meeting of creditors to. be specially
called for that purpose, and of which pre-
t vious notice shall have been given for such
/ length of time as, the court may direct,
3 three fOurths in value of the creditors shall
| resolve that it is for the interest of the gen
eraEbody of the creditors that the estate
| of the bankrupt should be wound up and
) settled, and distribution made, it shall
TFbe lawful for the creditors to certify and
e report such resolution to the court, and to
] nominate one or more trustees to take and
/ hold and distribute the estate, under the
FL direction ofsuch committee. If it shall ap-
t pear to the court, after hearing the bank
! rupt and such creditors as may desire to be
t heard, that the resolution was duly passed
2 and that the interests of the creditors will
r Hbe promoted thereby, it shall confirm the
f same; and upon the execation and filing by