National Republican. (Washington City (D.C.)) 1872-1888, 1874-08-07

In his opinion, shall be best calculated 70 give
general notice of the sale. And the court, OF
the application Of any party IN Interest," shall
have complete supervisory power over such
sales, including the power 70 Sc. asloe tne
came and to order resale, 90 that the property
solo shall realize the largest sum. And the
court may, in fits discretion, order any real es-
tate of the bankrupt, or any part thereof, to b
sold for one-fourth cash ct the time Of sale
and the residue within eighteen months IN such
instruments as the court may direct, bearing
interest ct the rate Of seven Per centum per
snnum, and secured BY proper mortgage Of
lien upon the property so sold. And It shall b
account Of all moneys received or expended BY
him as such assignee, to which account even
creditor shall, ct all reasonable times, have
fres access. Hany assignee shall fail or neglect
to well and faithfully discharge his dutiei
In the sale or disposition Of property as above
contemplated, Il shall be- the duty OF the
court 70 remove such assignee, and he shall
forfeit AL fees and enoluments to which he
might be entitled IN connection with such sale
And Il any assignee shaH, in any, manner, IN
violation Of his duty Aforesaid, unfairly OF
Wrongfully sell or dispose Of, or IN any manner
ffaudulently or eoTuptly combine, conspire,
or agree with any person or persons, with In
tent 70 unfairly or wrongfuIy sell or dispose Of
the property committed 70 his charge, be shall
upon proof thereof, be removed, and forfeit ali
fees or other compensation for any and all ser
vices in connection with such banIrupt's estate,
and, upon conviction thereof before any court
OF competent jurisdiction, shall be liable to q
nne Of not more than ten thousand dollars, or
imprisonment in the penitentiarY for g term Of
not exceeding two years, or both fine and I'm
at the discretion Of the court. And
any person so combining, conspiring, or agree
ing with such assignee for the purpose aforesaid
shall, upon conviction, be liable to q like pun
khment. That the assignee shall report, under
oath, TO the court, at least as often as once In
three months, the condition of the estate In
his charge, and the state Of his accounts in de-
tail, and at all other times when the court, on
motion or otherwise, shall 90 order. And on
any settlement Of the accounts Of any assignee,
he shall be required to account for all interest,
benefit, or advantage received, orin any manner
agreed TO be received directly orindirectly, from
the use, disposal, or proceeds Of the bsnkrupt's
estate. And he shall be required, upon such
settlement, to make and file in court an affida-
Wit declaring, according to the truth, whether
be has or has not, as the case may be, received,
or is or is not, as the case may be, to receive,
directly or indirectly, any interest, benefit, or
advantage from the use or deposit Of such
funds; and such assignee may be examined
orally upon the same subject, and II he shall
Willfully swear falsely, either in such affidavit
or examination, or to his report provided for
in this section, he shall be deemed to be guilty
of perjury, and, on conviction thereof, be pun
ished by imprisonment in the Denitentiary not
less than one and not more than five years.
Sec. 5. That section eleven Of said act be
amended by striking out the words "as the
warrant specifies" where they first occur, and
the words "as the marshal shall Sc
lect, not exceeding two;" Snd inserting after
the word "specihes" where It last occurs .he
words "But whenever the creditors of the
are so numerous as 10 make any no.
tics now required by law to them, by mail or
otherwise, e great and dlsproportionAte ex-
pense to the estate, the court may, in lieu
thereof, In its discretion, order such notice TO
be given by publication in q newspaper or
to all such creditors whose claims,
as reported, do not exceed the sums, respect
lively, of fifty dollars"
Sec. 6. That the first clause Of section twen-
ty Of said act be amended by adding, at the
end thereof, the words Tor in cases Of compul-
sorry bankruptcy, after the act of bankruptcy
upon or in respect Of which the adjudication
shall be inside, and with 9 view Of making such
,et-of"
Sec. z. That section twenty-one Of said act
Do amended by inserting the following words In
Inc six, Immediately after I'therebya ''But
,reditor proving his debt or claim shall not be
held to have waived his right Of action or suit
against the bankrupt where q discharge has
been refused or the proceedings have been de-
.ermined without discharge" -
Sec. s. That the following words shall be
added to section tWenty-six Of said act: "Thst
n all causes and trials arising or ordered under
his sct, the alleged bankrupt, and any party
hereto, shall be Q competent Witness."- -
Sec. 8. That In cases Of compulsory or IN
bankruptcy, the provisions of said
Lct, and any amendment thereof, or Of any
thereto, requiring the payment OF
my proportion Of the debts Of the bank
Gpt, or the assent Of any portion
II his creditors, as q condition Of bis
discharge from his debts, shall not apply;
,ut he may, II otherwise entitled thereto, be
discharged BY the court IN the same manner
md with the same effect as n be had paid
Iuch per ceutum of his debts, or as II the re-
Iuired proportion OF his creditors had assentsd
hereto. And in. cases Of voluntary bank
uptcy, no discharge shall be granted 70 q
lsbtor whose assets shall not be equal to thirty
YET eentum Of the claims proved against his
state, upon which he shall be liable Is prin-
ipal debtor, without the assent Of at least
me fourth Of his creditors IN number, and one
bird in value; and the provision in section
hirty-three Of said act Of March second, eight
.en hundred sixty-seyen, requiring hfty per
,entum Of such assets, is hereby repealed.
oulsory bankruptcy, the period Of four months
mentioned 10 section thirty-fVs Of the act to
which this Is an smendment IL hereby changed
% two months; but this provision shall not
AXE effect until two months amer the passage
# this act. And IN the cases Aforesaid, the
0eriod Of siG months mentioned in said sec
ion thirty-fVs IL hereby changed to three
months; but this provision shall not take effect
1ntl three months amer the passage Of this
Ict.
Sec. II. That section tbirty-ave Of said act
V, and the same is hereby, amended as fol-
oWs:
First. Amer the word 'sndn IN line eleven,
insert the word ''knoWing."
Secondly. After the word attachment" in
he same line, insert the words Representation,
eiZure."
Thirdly. After the word "and," in line
Wenty, insert the word "knowing" And
nothing In said section thirty-hVe shall be con-
trued TO inValidste any loan Of actual value,
" the ecurity therefor, made In good faith,
Ipon g security taken in good faith on the oc-
,asion Of the making Of such loan.
Sec. -. That section thirty-nine of said act
II March second, eighteen hundred and sixty
even, be amended so as TO read as follows:
"Sec; So. That any person residing, and
1wtng debts, as Aforesaid, who, after the pas
age Of this act, shall depart from the State,
District, or Territory Of which be is an inhabi-
ant, with intent to defraud his creditors: or,
icing absent, shall, with such intent, remain
Ibsent, or shall conceal himself to avoid the
IerVice Of legal process in any action for the
ecovery Of Q debt or demand proYable under
his act; or shall conceal or remove any Of his
property to avoid its being attached, taken, or
equestered on legal process; or shall make
my ass. Znment, gift, sale, conveyance, or
ransfeT Of his estate, property, rights, or
redits, either within the United States or else
Ehere, with intent to delay, defraud, or hinder
lis creditors; or who has been arrested and
leld In custody under or by virtue of mesne
process or execution, issued out of any court
4 the United States or of any State, District,
II Territory within which such debtor resides
II has property, founded upon demand In its
lature proYable against q bankrupt's estate un-
Ter this act and for sum exceeding one hundred
Collars, and such process Is remaining in force
nd not discharged by payment, or In any other
manner provided by the law Of the United
tates, or Of such State, District, or Territory,
pplIcable thereto, for period Of twenty days,
r has been actually imprisoned for more thar
WenTy days in q civil action founded on con-
ract for the sum Of one hundred dollars or
pWard; or who, being bankrupt or insolyent,
? in contemplation Of bankruptcy or insol.
ency, shall make any payment, gift, grant,
ale, conveyance, or transfer of money or
Their property, estate, rights, or credits, or
onfess Judgment, or give any warrant to con
sss Judgment, or procure bis property TO be
lken on legal process, with intent to give a
reference to one or more Of his creditors, or
} any person or persons who are or may be
able for him as indorsers, bail, sureties, or