New-York tribune., 1873-12-23
BANKRUPTCY QUESTIONS.

CORRESPoNDENCE BETWEEN SENATOR'S HITCHCOCK
AID EDNUNDs-BELIEf THAT THE REPEAL or
BANKRUPT LAW WILL BE MADE RETROACTIVE.
[GEsERAL PRESS DIsPArCBl
WASHINGTON, Dec. Ex-senator Hitchcock
has addressed the following letter Senator EdnUu1s
chairman OF the Committee on the Judiciary
UNITED STATES SENATE CUiNBEE.
WAsHrSGToN, Dec. 20, 1873.
DEAR SIR: Regretting the failure OF the Senate 10
,ct pror to the holiday recess upon bill repeating
the Bankrupt law 30 far al least TO wipe out The
present oppressive feature OF involuntary Dankrnpty,
and fearing that such failure Will aggrayate iinaneai
suering and add others the already long t Of we
Tins desire TO obtain your opinion OF the irasiby OF
40 amending the Bankrupt law make the repea of
the Oppressive feature retroactive; and also your
opinion to the probability OF the early passage of
sich amendments. Your reputation "a a lawyer, ana
your position chairman OF the Senate judiciary Com
mittee wgve weight 10 your opinion ana such opnOn,
aboSs named. viii, j think, 20 tar to relieve pubic
anxiety. and prevent useless and oppTe ltlga'n
The Hon Geo. F. Edmuuds, Chairman Senate Commit
senator Edmundsireplied as follows:
UNITED STATS SENATE CH,NBrB,i
WASHINGTON Dec. -. 1873 !
DEAR SIR have received your note OF the 2oh inst,
and say in reply do not profess to speak for
son but my self course but speaking have no bes
taton saying that any provisions that may be made
respecting the forcing OF debtors into involuntary bank
rupcy and the proceeding thereupon will, 50 far a. my
voice goes be made retroactive IN such way thai DO
person will gain anything by oppressive steps to-
ward debtors pending the consideration Of The question
As all such matters relate TO remedies wblch congress
may take away altogether II 1t peases there VIII be DO
mproprety In making any wise provision wb'ch regu
cases and feel confidence that such VIII be tho
opiuion OF the Senate. Very truly yours -
GRO. f. EDSuNUs.
The Hon. P. W. Hitchcock L. s. Senate
An IMPORTANT BANKRUPTCY DECISION.
lGBsRRAL PREss DIsPAfCHl
WARRINGTON, Dec. 22.-The Supreme Court
to-day rendered the following important decision the
case of Wilson, assignee in bankruptcy OF NaDderbon
Bros against the City Bank Of st. Paul. upon cernh
.,.f a,
In this case Vanderhof Bros. owning the bank,
their entire stock OF goods 10 be seized
cution Judgment by default obtain against them
preferred the bank their other creditors, against
the provisions of the Bankrupt act, and the assignee
spped the claims OF all the creditors On these facts
the .rS hev wsre @sred 70 This m @y s1s
First: Whether not intent the part of the
firm to suffer their property 20 be taken on execution
with intent to give preference TO the bank. with
intent defeat or delay the operation Of the BankrupA
act. can be inferred from the facts stated.
econd Whether, under the facts, the bank in their
proceedings had reasonable cause TO believe that
fraud tne Bankrupt act was Intended by the firm.
1hird: whether under the circumstances. the bank
obtains by the levy and execution valid lien tho
In their opinion the Court say that sonnet more
than the passive nonesstance Of the nsolvent debtor
aud execution had when the debt is due. and he
without just defense TO the action necessary to show
delay the Of the a"lp PUe@ aa @ the a
that the debtor under such does not e
petition In bankruptcy Is not sufficient evidence OF such
prefeencc or desire to defeat the operation or the
that though the judgment creditor IN such may
know the insovent condition OF the debtor, his levy aud
seizure void under the circumstances, nor any
violation Of the Bankrupt law; that lien thus obtained
by him Will not be displaced by subsequent proceedings
In bankruptcy against a debtor, though within four
months of the hling Of the bill. These propositions
qIire the questions certified To De answefedthe nret
two In the negative and the third In
This decision oyerrules or largely qualities what WAS
said y Justice clifford IA delivering the opinion OF the
Court Ia The of Buchanan against Smith al the
term.