Smyrna times., 1868-01-08


Passed at the First Session of the Thirty Ninth Con
gress.
IPUBL1c-No. OIL
AN ACT establish system of bankruptcy tbroue
the United States. ~ 9
LCOntinued from last week.l
CLARED VOID. DA
insolvent Of insolvency within four
give preference to any creditor or person havn
assst him or who Is under any liability for him
cntIon or makes any payment pledge assignment transfer
y absolutely Orconditonay person receiving such 1av
lifted thereby or by such attachment reasonable cause
payment, assignment or conveyance is made in
the provisions Of this act the Sod and the aS
son SO receiving it, or 50 to be benefited and any be-
within six months before the filing petition by or aSainf
him. makes any payment sale
or other disposition Of Of his property to any
who then has reasonable believe him to be ns6ent
or to acting in contemplation insolvency and that
% with s & testament transfer or other conveyance
Sgnee IN bankruptcy or to prevent the being dis
impair hinder impede delay the operation or effect Of or way 5
transfer conveyance shall be void and the aSisne @ M
rpt And such sale assignment tTusfer er Sa e Sa
5to 6 % i IN t le a and ordinary course Of business OF the
az or security made orgNen by bankrupt 9th
payment OF any money consideration with intent to
charge bankrupt Shall 6r Void and if amy crtdp pr % Gi
8S % ANY sum OF money or other gos chattcs, security
elSl to such application for discharge every creditor SO
estate OF the bankrupt Shall a forfeit double tSr aa ID .e @
by for the benefit Of ths SO estSe GSe,ed
| bANKRrPTCY OF PARTNERSHIPS AND CORPORATIONS.
who partners in e Shall be adjGige Ue
o mr. on is oL such prner or any one of them
Issue Issue m the manner provided by this ACT which all the
separate PARTNERS shall be taken cxcepts M g
pdf thereof Us are rrcnbetIre excepted and all the
nr o the company and the separate creditor part
assignee shall M chosen b , critor "f t6e % ANU @ 1e
shall also keep separate accounts Of the stock property
the
thereof and after dcducns Of the whole amount received
The net proceeds Of the Joint stock shall be Appropriated to pay
debts such balance sbnI he i 70 M M & nt % & S M Separate
lnent of the rf cr,iite % II ' III ntoeh 9r ILe pay
s s t m iTGgk SF & Of the i%n debts such balance
la OF the several PARTNERS according their respective right
ship had been dissolved without bankruptcy and the sum
applied to the payment separate debts and the certificate
same Would or ought to be the prcn II esc baS % agF as the
MN alone under this act and in all other respects the
y tney hHa been commenced ad prosecuted against
which the petition is first filed shall retain exclusive uc
SEC e. And be further enacted That the provisions
s and ont stock eoSseS and bst 6
any nlcer o any corporation or company duly authorized by
l e purpose or upon the petition of creditor
sreafte in respect to debor the ike m @T poea
debtors and ali the provisions Of this act which apn M % m
% e dtot3Fs @ set forth his duties in regard to furnishing ch
ons disclosing, making screng, conceang conveying
Ike Sret % % and nd pffS pcRa3 sppIy sp tn 1 eas S
he sant matters concerning the corporation company
declared fraudulent and oid M this Sef M6e
mate ma y & ebor shall in like manner and to the like extent
corp9non or company: No allowances discharge be
member thereof Proyded Thst Vt WeneTsy @ S,
ali its property aud assets shall be % % "t to t6
act III respect to natural persons. ~
DATES AND DISPOSITIONS.
SEC 49, And he it further enacted That the filing petition
half or by creditor against debt upon an order
ydtd in section four shall be taken to be the com
proceedings in all cases of bankruptcy shall matters
re but Shall be- care % S n and TO ee fGGor@d % & at
ee ei the clerk Of the court and docket only short
which shall b. to public inspection Copies records
Pns the facts therein stated E9idence s or or
kr the court, register in bankruptcy viva yoc m
y writns before CoHnsoner Of the Circuit Court by
to register In bankruptcy other suitable person TO take
ing Of testimony in the suits in equity in the
INvOLrxrARY BANKRUPTCY
SEC 39 And be it further enacted That any person resdp
and and owing dgts & as Aforesaid who after passage Of this ae
hsban with intent to dcfaqd creditors or heing ais
himself . 81 ayG s the !, service faT
cd aIeD or seaestgred on m %esR % C. avod m it & bng 2aeh
assignment gift sale conveyance or transfer Of % bis ks any
Prty rights OF ere credits Ut either within the United States
who has been arrested and held custody or BY virtue
state district or Territory within which such debtor resides
asanst bankrupt estate under this act and
ded by the W such te district any E @Fe5 = manner
3ned Tor more than seven days il civil action founded
being bankrupt or or in contemplation bankruptcy
veyanee transfer money property estate fights
suffer his property be taken legal process with intent
or % ug % % for hm as 0T to
th % bs % to eSt at or d e an en 1y Sue9 aispos
or wlIO being banker merchant or trader has auduently
c Within period Of fourteen days. shall be deemed to
oG adudsd sG ng on
s d T % nder this M to h az
dred and fifty dollars provided such petition is brought within
ted And such person shall adudsed bankrupt the as
conveyed so assigned contrary this sc pro-
sonabie eaise believe that aet was intended
allowed to prove bis debt in bankraptcy '" not Oe
SEC 90 d 9e i further & enacted Ta upon the ns
pear that sufficient grounds exist therefor shall
cause al court bankruptcy holden at time 10 be- spe-
Of why the prayer petition should granted and
person the meantime, from making any transfer dpos
& 0n 81 M any s5 S t bero and
and shall that there probable caae for believing
goods catels his evidence Of property
msH issue warrant to the district commanding
b b .a S aT ba ali to asSs @ q e s 0r
se S % be court ri upon the petition the further order Of the
court and forthwith take possession professionally Of all the
and effects debtor, and safely the
te further order the court OF the petition and
~ h order to shall be served such debtor by
delivering the him personally or leaving the same at
NJ LAST or sual abode such debtor cannot be
nd his ofresdence ascertaned service shall made
the judge direct NOur
a the debtor and consent thereto,
shall be had proof shall have been given to the satsae
on nf te court such service or puDcat9n anu such
M NOT given return day OF sch order tine proceed
s be adourned and order made That the hotee be
forthwith served or publlsleu MI - ..h ~o.r, a.
or oured day If the notice has been duly served or
ed, waived the
shall susnmariy 70 near tle ~
the petitioner and debtor and adjourn the
shown anu SNAIL me usot
on the same day 90 demand in wrtng, order tra by Jury
first term the at which Jury sha ~ ~
Of such alleged % W
such hearing trial, the debtor proves 20 e
OF the the jury the may De Wv ia
forth Ia the petition that the deDto s
and satisfied all liens upon property in case the
such liens the sole ground O the proceeding the
dismissed respondent shall recover
SRc42 And be II further enacted, That the ae so ~
In the petition found 10 be true OF default % au
debtor to pursuant to the order upon due proh ~ 10
vice thereof being made, the court shall adtudge te
bankrupt and SUCH subject TO the provisions o. &
and shall forthwith issue warrant TO take possession tp
Of the debtor The warrant shall be directed and te
ery the debtor shall be taken thereon and sha be aneu