The New York herald., 1874-12-24


no; been !roper.y stamped, were brought before
Commissioner saields ye terday, and held in de-
fault o $500 bail each, for examination.
TWEED'S CERTIORARI.
The finale OF the nabeas corpus argument in the
case OF cx- Boss Tweed, teiore Judge Barrett, IN
the Court OF oyer and Termlner. on Tuesday. was
sending ne case on certiorar before the supreme
Court, General Term which Court was to meet
yesterday morning. The usual hour ior the Court
10 convene is haltpast ten o'clock.
At ten minutes PAST ten Judges Davis ana Dono-
hue came into the court room, took their seats on
the bencn, and, TO Indulge in familiar quotation,
"beiore one could say JACK Robinson, z" Judge Davis
turned TO the crier and directed MIN to adjourn
the Court to the 3lst inst. At this time there were
not nall a dozen persons in the room, but among
them David Dudley Field ana eX-Judge Comslocx
OF cornsel lor MIR. Tweed.
III Your Honor please" said MIR. Field, jumping
quickly to his lee and wl.h look OF ola nk aston
ishmaps at tae sudden and hassy adjournment,
.'the writ OF cerioFarl In The haDcas corpus pro-
ceedngs benali OF Mr.. Tweed was made re-
tnraable here ms mornins 5uIEe Nomstock ana
myself have attended The Court for the purpose OF
having prompt disposition made OF the case.
with OF its reaching the Court OF Appeals In
January. his was the understanding with tie
District Attorney, and we are content that the
Court should decide the case according TO its hrSJ
impressions and Without extended 3rsunent."
'AdJourn the Court. said Judge DAVIS 10 the
crer .4to the 3ist INST"
The crier sounded forth the usual formula OF ad-
journment, ana the judges forthwith left the
bcnch leaving tne case o. Mr Tweed In stdtu quo.
otcoHTsa considerable comment ensued and q
great variety OF conunJrumS was asked as TO
what II al meant but everybody had to give 1t up.
AT about tne u, uai ume Tor the Court 20 meet
District Attorney Phelps and Mr. Peckham came
stroilng into the room. They, were as unable 10
give satisfac tors response TO the conundrums as
any OF the hall dozen lawyers present.
COMPOSITIONS N BANKRUPTCY.
Yesterday, IN the United states District Court,
Judge Blatchford renuered his decision IN the case
or thomas McKeoD, bankrupt. On the 1Ith OF
November. 1874, McKeon filed in this Court a
voluntary petition and was on the same day ad-
JUDGE bankrupt by the Register to whom
the was referred, and surrendered all
ais property to the Register. lie then inst
tuted proceedings for composition with
his creditors under section seventeen OF the
Bankruptcy Amendment act OF June %, 1874. The
composition proposed was the payment OF thirty
cents the doilar, to be paid in cash
IN iu discharge and satisfaction OF all his debts.
No time Tor making the payment was specified.
The proposed composition was accepted by
resolution which was duly passed and confirmed
by the creditors, and other proceedings we're
had, .he result Of which was that the Court
cepted and confirmed composition by causing
such resolution 10 lie recorded and the other nee
essary pa.ers TO be filed. This was done the
18th oil December. The bankrupt now presents tv
the Court petition setting forth that he is de-
shoHs vi complying wita the terms OF the com-
position; taat TO enable him TO do so Il is neces-
sary he should resume LIS business ana regain his
credit ana standing in The business community,
ana mat Il Is lmFossbe ior him TO Go so until
the proceedings In bankruptcy are discontinued.
and MS property ana BOOKS are released from the
custody OF the Register and restored to mis- posses
sion He t3ere ore, asks ttat th!s be done with
this petition he presents 10 tie Court q papar
signed by majority in number and amount vi all
his creditors IN which they set forth that they
satisfied he j. complying and intends to comply
with the PROVISIONS oi the corporation so accepted,
anc that III Is for the best interest OF all concerned
that the prayer OF the petition shall be granted,
and that they join IN such prayer and request that
is nor asked to make an order tnat the proceed
lngs ia bankruptcy be discontinued. and that the
Register, paJ nlent OF all fees and expenses re-
store 20 the bankrupt all his property section ID
OF the Bankruptcy Amendment act OF June e.
1874, provides that all proceedings in bankruptcy
may be discontinued on reasonable notice and
hearing, with the approval OF the Court and with
me assent in writing OF such debtor and not less
than oGe-aall Oh Ills creditors Ia number and
amount; cr Ia case all t3e creditors and such
debtor assent thereto, such dscont.nuance shall
be ordered ana entered and all parties shah be
RENTED, IN either case, TO the same rights and
duties xis ting ~ the date OF the hing OF the Pc
ritou Tor bankruptcy; except so lar as snch estate
shall have tecn already administered and dis
posed oi.n Although Tits provision is enacted as
an anne ndment 10 a section or the Bankruptcy
voluntary cases, aud although the expression
'.such oeDtor," occurring twice in 1t has
Iesten properly eny ns o@ier e aesto
wnom a petition is fled by creditors-yet
ifit were TO be heid that the provision applied also
to voluntary tases II would still be necessary, by
Its express terms that before dscont!nuance
could be ordered under 1t there SHOULD be rea-
ing OF them aud approval by the Court or
the propriety OF such dscontnuance After re-
viewing tue facts at considerable length and ad-
vertlng 10 the law applicable to them, the
Judge coucludes oy saying
been composition IN an tnvountarily case before
adjudication there must necessarily be dlscon-
tinuance II the petltloning creiitors ask IL after
composition mas been confirmed by the
TIE matter must be regarded with reference to
tie status OF the case aud the property when the
resolution Tor composition was passed and with
reference to the term OF the resolution. But
although compositions may be proposed ana ac-
cepted ss wen In cases wEere there has been no
adjudication as in cases where there has been one,
Vet doctors and creditors must DC held to know
that the relation OF the Court to the property and
10 the creditors and 90 the proceedings Is very
different where there has been an adjudication
ton. This is known when the resolution for COM
position Is acted upon, and its terms can DC ar
ranged accordingly. IN view OF the then actual
situation oi tie property and the proceedings. IT,
III an Involuntary case where there has been
promise proposed and accepted, the terms OF
WLich nave not yet been complied with, the
effect Of dseontlnuance before such compliance
may pe 20 deprive the Court OF suinmarlly en-
forcing the composition and also Of the power or
resuming the bankruptcy proceedings, it is very
easy Tor the creditors to provide, in tie resoiu-
tion for comp Jsition that there shall be no dis
continuance or no surrender OF property to the
debtor uniu Inc terAs Of the composition have
been complied with. la an involuntary case.
where there has been no adjudication, tue gen.
eIal rule Is that there may be q discontinuance
without The assent or any creditor except those
bringing the petition, and without notice 20 the
crealtors THIS should be borne in mind when n
resolution FOR competition In sucn case Is con.
sldered
"li IL be suggested that these views Of the
statute may have the eject TO embarrass both
aeUtois aud creditors IN proceedings for compost.
ton In voluntary cases as compared with like pro-
ceedngs 10 Involuntary cases, II VIII be found that
dlscriminste without apparent cause, between
voluntary and involuntary proceedings 10 the
prejudice OF the former. 1t " sufficient TO refer 70
scttion OF the act or 1874, which imposes on
voluntary bansrupts, as condition oil their dis.
Charge, that they shall par certain pIoporti0n OF