The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1874-09-24

OF THR uNITED STA les,
20
PASSED AT THE FIRST SESSION
Of the
FoRry-ruIRD CONGRESS.
,FoRrY-THIRD CONGRESS.


OIL Ing
,FoRTY-THIRD CONGRESS-
GENERAL NATURE-No. 74.l
err s,,s,,,on,o,+ an ,ot on.
Az ~ 40 alielu a4a Il ,,n;fo'm
ceied AN ac1 70 es ,'o.,,a,,t A t,,a fTn;tai
OF bankruptcy tnlou'o sooona. .i1ht .oo,
pCales, approveu nlaan- nd fnr o+hs' NJ,
htlhdfea anu slAey-se'ol'' h'A ~ 49, ps'i
poses. t.zs.-.-.. t,.....a
Be it enacted by the Senate anu House OF
Representatives Of the United States of Ameri-
ca in Congress assembled, mat the act ei-tl-
tied IAN act to establish uniform system Of
bankruptcy throughout the United states, 'ap,
proved March second, eighteen hundred ana
sixty-seyen, be and the same is hereby, amend
ed and supplemented as follows: That the
court may. in its discretion, on sufficient cause
shown, and upon notice and hearing, direct
the receiver OF assignee to take possession OF
the property, and carry OIL the business OF the
debtor, or any part thereof. under the direction
of the court, When in its Judgment, the inter-
est of the estate as well as Of the creditors will
be promoted thereby, but not for period ex-
ceedine nine months from the time the debtor
shall have been declared bankrupt: Provided,
THAT, such order shall not be made until the
court shall be satisfied that it is approved by
majority in value Of the creditors.
SEC. q That section one OF said act be, and
If is hereby. amended by adding thereto the
following words s.Prorided That the court
having charoe of the estate of any bankrupt
may direct That any of the legal assets or debts
of fhe bankrupt. as contradisting'ushed from
EQUITABLE demands. shall, when such debt
does NOT exceed five hundred dollars, be colec-
te,l in the courts Of the State where such bank
rnnt resides having Jurisdiction of claims of
such nature and amonnt.,'
SEr 2 That section two of said act be. and
# hereby is. amended nv striking out. in line
ton tha words ..the san1e--,' and INSERTING fhe
,rord s.,nv.,, and Nv adding next after the
words ssadverse interest," in line twelve. the
,(,r,1s .or aSv;mo. any daht To sucb han|-
mu,o = y o7 '' = ~ NJ
Soc That unlass otherwise ordered nv
tho GOVT tho aSs;onae sbalI sell the nronerty
81 ~ ha y l,,,s+ y,hatha,. real or nersonal al
,,,hl;o o.,at;an +, s,nh narfs or narcpls and at
l,,, 5 ionas az shall he hest calculaf
al 70 aro,l,oa the oreatest amount; with file
laast 1900 All Notices of nuhic sales mn
e,. th;s .nt Nv anv ASSIGNEE or officer of the
Govt sba1l no ,,',b}shad onca week for three
,,,,as w. tl naMsaa, ar ne1ysna
,o,.s ~ 10 ,iasionatad nv the i1{iee which. in
bbii s on;uion sha1l he hest calculated to Give
80 ~ IA .s1a Aud the court on
~ oaa1iaot;on Of anv Marty II, inferest. shall
~ ad,arIata snnnrv;sorv mower over such
Salas innlif9lino the mower TO set aside the same
anJ 70 order a resale. so that the property sold
sl. m roalisa +hn laryest sum. And the court
go -, ~ diso.,t:on order a,,v real as
a,5 -, Va h,1'r,nt ~ anv mart Thereof TO be
sa,s 81 fnt cash al fhe fine of sale
nd ta with;n ciahtean ,nnn1hsin such
800 - r. ~ 40 oo,rt n,v diraat haa,;,,o
80 to 81 saon ,e~ can,in neT
r so,,,.e5 hr- nronr ,oro, oa a. lien
NOV tI,a nrona,tv SO sold And It shall be the
J,t, ~ l,io,,1 ocsirnaa to keen raqlla, &C.
eo,,y+ ~ ali monexss received or extended by
h;,,, as ,s,,.h oesionee TO which account every
ra;to shalI af reasonable fines have tree a
cass r. ,anvaSsignee shall fail or neglect to
vol md faithfnIjv discl,aro, his duties in the
co1. ~. ri s,,os;+;o,i of n,onertv as above con-
tamnIotad r shall h., he (l.lty of the court to
remove sucb ass;ynee. and he shall forfeit all
feas and amolIlments to which he might be en-
titleel in conuaction viii, such s,le. And if
,,,v .ssionee shalj. in any manner. ia violation
nf b;s I7tv . forasaid unfairly or wronof:lllv
sau l''' N. or d;snose of or il, any
,,o,ne,. f.audnientlv mr. corruptly combine.
n',,s,,;ro or aorae With any nrrson or persons.
.,;+l, ntant to ,,nf,j,lv ~. ,y;.opmflly sell or
d;Snoss Of the nronerty committed. to his
o ol.pu ha shal, nnp,, nroof thereof be re-
y,oysd and forfeit ali fees or other coinpels;-
t;on forianv and ali services in connection with
snch h,nEI,mt's estate. and. upon conviction
tl,.a.eof hnfOrn aI,V c0!rt OF cOUlDGtHnL lIIIS-
Iiction shall he Ii3bla to q tille Of not more
than ten thousand dollars, OF Imprisonment in
tho ,,entsntia,.v for Term Of not exceeding
two vaars or hath fine and imprisonment. at
t,,e ,iscrefon Of the conrt. Aid any person.
80 con hinino. consprillg. or agreeing with
s,.h nSsignps Tor The uurDose aforesaid shall,
mon conylction he liable to like punishment.
.,lI'o4 AZ assansa shall renort lnfer oath. to
ta oo'',t at fsast &c often as once in three
, mo th. condition OF the estate in his
CHARGE and the stale of his accounts in detail,
and md e. all other times when the court, on mo-
s t.a ar otberyise shall So order. And OH any
setfle'nent Of HE accounts Of any assignee, lie
shall ha reo,,ad to account for ali interest.
hanatit or ADVANTAGE received, or il. any man
ner agreed to be received, directly or indirect
/ ly. from the use. disposal, or proceeds Of the
bankrunt's estate. And he shall be required,
mon such settlement, to make and file i'll
CONT an affidavit declaring, according to the
truth whether he has or has not, as the case
~. he recaived, or.is or is not, as the case
| may be, to receive, directly Oh Indirectly, any
interest. henefit. or advantage from the use OF
denosit Of such funds and such assignee may
he oxamined orally upon the same subject, and
Il he shall willlfully swear falsely, either in
snch affidavit. or examination, or 10 his report
fo,. in this section, he shall be deemed
! F. he guilty Of perjury, and, OH conviction
| tharaof he nunished by imprisonment III the
nen;tentiary not less than one and not more
fha :, five wars. ,..,..
Src That section eleven of said act be
| a,naI,ded nv striking out the words ''as the
l ettHohoSo " 1,,,o,o rboT fret