Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-08-10

one hundred dolnxs OF upward; or Who. b<fna
bankruptcy or insolvency, shall make srT r.y '.
ment, gift, grant, sale, conveyance, or transfer
OF money or other property, estAts, rtehts, or
rant TO confess iud gment, OF procure hk properly
20 lie taken on legal process, with intent 20 give
preference % one or more OF his creditors, OF 10
any person or persons who are or may be liable
for him as tndorsers, bail, suretiee or otherwise
or with the intent, by such disposition OF his
property, 20 defest or delay the operation Of
this act; or who, being bank, banker, broker,
merchant, trader, manufacturer, or miner, has
frspdulently stopped payment, or who being
hank, banker, broker, merchant. trader. manu-
fActurer. or miner, has stopped or suspended and
DOT resumed payment, within q period OF forty
dave, Of his commercial paper, made or passed
IN the course OF his business as such), or who,
beng bank or banker, shall fail for forty DAYS
g pay any deposition upon demand Of payment
lawfully made, shall be deemed % have com
mtited an act OF bankruptcy, and, subject % the
judged bankrupt en- the petition OF one or more
OF his creditors, who shall consulate one fourth
thereof, at least, In number. and the aggregate
20 AZ least one third Of the debts 90 prOyable:
IrUrtded. That such petition II brought within
sin months after such act Of bankruptcy shall
have been committed. And the provisions OF
this section shsll Apply 10 AL cases OF cOmpul-
sory or Involuntary bankruptcy cOmmenced
since the FIRST day OF December, eight hun
cred and seventy-three, rs well As those Gem
menced hereafter. And in al cases commenced
since the fret day OF December, eighteen hun
ored and seventy three, and prior 20 the pass
age OF this ACT, as well as those commenced
hereafter, the court shall, a. such allegation ~
90 the number or amount OF petitioninR credt-
tors be denied by the debtor, by = statement in
writing 90 that effect, require him 10 file in
court fOrwith a full list OF his creditors with
their places Of residence and the suns due them
respectively, and shall ascertain, upon reAsOns-
bic notice % the creditors, whether one fourth
ia number and one third In amou nc thereof, as
aforesaid, have petitioned that the debtor be
adiudged bankrupt. But IL such debtor shall,
h.
the requisite number and amount OF creditors
have pettioned the court az satisfied th 81 the ad-
mission was made In good faithl shall 30 adiudge,
which judgment shall be final. andtho matter
proceed without further steps on that subject.
And II IL shall appear that such number aud
amount have not 20 petitiOned, the court shall
grant reasonable time, not exceeding, in cases
heretofore commenced, twenty dave, and in
cases hereafter commenced, ten DAYS, within
which other creditors may join In such petition.
And AZ, az the expiration OF such time 30 limited,
the number and amount shall comply with the
requirements OF this section, the matter OF
bankruptcy msy proceed; but II, at the eNpirs-
ton OF such limited time, such number and
amount shall not answer the requirements OF
this section, the proceedings shall be dismissed,
and. in cases hereafter commenced, with costs.
And IL such persons shall be sdjudged a bank
rupt, the assignee may recover back the money
or property 20 paid, conveyed. sold, assigned, OF
transferred contrary 20 this act PROVIDED, That
the person receiving such payment or convey
debtor was insolyent, and knew that q fraud Of
this act " rs intended; and such person ~ cred-
tor, shall not in cases OF actual fraud his part,
be allowed 90 prove for more than n moiety OF
his debt; and this Limitation on the proof OF
debts shall apply 70 cases OF voluntary Ne well
as involuntary bankruptcy: And the petition
OF creditors under this section may be SUM-
GENTLY verified by the oaths Of the first i've
signers thereof, II 20 many there be. And IL
any of said first I've signers shall not reside in
the district In which such petition Is 60 he filed,
The same may be signed and verified by the oath
or oaths OF the attorney or attorneys, agent or
agents, OF such siRners. And In computing the
number OF creditors, as aforesaid, who shall Join
in such petition, creditors whose respective
debts do not exceed two hundred and fifty dol
lars shall not be reckoned. But IL there be no
creditors whose debts exceed said sum OF two
hundred and fifty dollars, or II the re uisite
number ef creditors holding debts exceeding
two hundred and fifty dollars fail 20 sign the
amount shall be reckoned tor the purposes
aforesaid"
SIC. u. That section forty of said act be
amt nded by adding at the end thereof the fol-
lowing words: Sand AZ, on the return day OF the
order 90 show cause as aforesaid, the court shall
be satisfied thst the requirement of section
thirty-nine OF said act as 10 the number and
amount OF petItiOning creditors has been COM
piled with, or IL, within the time provided Tor
IN section thirty OF this act, creditors sUf-
hcient In number and amount shall sign such
petition 30 as 20 make a total of one fourth in
number of the creditors and one third in the
amount OF the provabie debts against the bank
rupt, as provided in said section the court shall
50 sdjudge, which judgment shall lie final;
otherwise it shall dismiss the proceedings, and,
in cases hereafter commenced, with cOsts."
SIC. IL. That section forty one of said act be
amended q follows After the word "b&nk-
Iuptcy" IN line eight, strike out all Of said sec
ton and insert the words, "Or, at the election
OF the debtor, the court may, In it's discretion,
swaTd-s venire facias TO the marshal Of the dis
trict, returnabe within ten DAYS before him for
the trial OF the facts set forth In the petition At
which time the trial shall be had, unless sd-
iouIned for cause. And unless. upon such hear
ing or trial, IL shall appear TO the satisfaction
of raid court, or of the jury, the czse may be,
that the facts set forth IN said petition are
true, CT IL il shall appear that the debtor hss
paid and satisfied al liens upon his property, I'm
Gaze the existence OF such liens Was the sole
ground OF the proceeding, the proceeding shall
be dismissed, and the respondent shall recover
costs; and all proceedings in bankruptcy NAV
be discontinued on reasonable notice and hear
ing, with the approval of the court, and upon
the assent, in writing, of such debtor, and not
less than one-half OF his creditors In number
and amount; or, In Gaze all the creditors aud
such debtor assent thereto, such discontinu-
ance shall be ordered and entered and all par
ties shall be RENTED, IN either case, TO the
same rights and duties existing at the date OF
the hling Of the petition for bankruptcy, ex-
cept 80 far rs such estate shall have been
already administered ana disposed Of. And the
court shall have power 10 make all needful
orders and DEGREES TO carry the foregoing pro-
SEC. Is. That section eleven Of said act be
amended by inserting the words "and vslus-
non" after the word inventory" In the TWEEN
act be amended by inserting the words "snd
valuation" after the word Inventory" in the
fifteenth line.
SIC. 10. That section fOrty-nine OF said act be
amended by striking out after the word ssthe"
in line five, the words supreme courts" and
inserting In lieu thereof "district courts" aud
in line six, after the word Estates" inserting
the WORDS "subject TO the general superinteDd-
ence and jurisdiction conferred upon circuit
courts by section two Of said act"
lTO DR CONTINUED
m n n n n n m