New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-06
XLIIID CONGRESS--IST SESSION
SENATE. WASHINGTON. Jan. 5. 1874.

resolution Dec. H. calling for information to the
amount compensation received by Senators since the
organization OF the Government, which was laid on the
table
Mr., FENTON (Ilh Rep. ". " presented petition OF
business OF NewYork city, asking for the repeal OF
the Bankrupt law Referred 10 the Judiciary COMMITTEE
Mr.. CONKLING Gsep.. N. ~ presented petitions OF
citizens and business of NcwYork Oty and Brook
Ign against the repeal of the Bankrupt law and asking
that the present law be amended Referred to the Jul
dietary Committee Also petitions OF citizens OF LOWELL
Lewis and syracuse, NcwIOrk. asking Tor me repeai
OF the Bankrupt law Referred TO tee same Oouii'ee'
TIE BANKRUPT LAW.
Mr. EDMUNDS l2ep.. va. from the Judiciary Com
mitee reported back the House bill TO repeal the Bank
rupt law. with sundry amendments. and recommended
that with SUCH amendments the bill be passed He said
he had hesitation in stating that the Committee had
agreed, substantially, on the amendments.
The following IS the substitute recommended by the
Be GcaG. e. Tli; The Cont may discretion sufficient
shown notice aa hearing direct the receiver assignee
pose property OF the
estate as ws promoted thereby for
eToea oals from the Zine the debtor shall have been
sEcgIos Tx us Otherwise ordered by Court; assignee
ha sell Tie property d The bankrupt wheioet real or personal a, pub
SpSVa, - Pay, ~ ,'' I a. Ssn us anu mi, te Is,si
Ipeuse Coat application any party shall
asys s,i19s o loS' over aeA sass 30 'sa ,nS popeag
.r,er sar real .e f G blnxrust OF ssv ps thereof to be
ol fr ooe l cas- asas At he ne Of sale and the residue in
per snn pyios u than sir months be
,csS any wv % a O ' . ~S S he or d HsT
asutuee 70 ko,p regular account OF all moneys
esi o. 1..e ' IN IS sao ls1ee 70 when Sop m t ye
seslS' 40 ~ ,- -e,-e b. s in the sale or disposition Of
poIerts a. ,,s sal be she asy o. the Gog 70
winch he misL enttei connection With such sale and II any
~ - -, 49, - ~ r sny manner frouIaenJT or cor
upiy cmae claspr person with intent
charge shi upoa mogf thereof BE- I3oyei .sa SS,' s
b,ppt and conviction thereof before any eYut
neeli ,'o3 slIs o. s 0ao ,s Of NOT eiens two
"P a.. "a ,pS mgr mt At the the
ageelhk
rcn 5r purpose Aforesaid shall upon conviction be liable t"
Sc g. lat tie 70 oag shall be added to secao, 20 Of said
he a bankrupt aad party thereto shall be cOmPeen' wit
SEC T. Thu, compulsory involuntary bankruptcy the
provisions % az loi Or any aHenrea' thereof OF o. y m h
bankrupt oIn OF his creditors condition OF
entitled hereto discharged by ae the manner aud
n e re ri gioofson Of bis 5ros bad anted
haiia Of involuntary or compulsory b.nGrpptev the
/. be.sy changed to two months but ihs provision
10 Aforesaid the pcO1 Of months mentioned IN sad section
edoct three nonhs Of tAs act
sre That Sec,oo 81 q sail act be ana 'G f 9y seesod
knowing, ecoBi' after the word aacanent IN the same Inc
10 line 20 ia.er, The wori {" showing"
sac l. a section March 1867 be amended
SIC 80 That any person residing Aforesaid Who
after passage o. this act shall depart from The state district. or
TERRITORY OF Nha be Is az ahae!aai WIN intent 70 'eissg I1
se TIE service Of legal process III any action or the
or remove an his oropery to avoid its being attached t's
seIueser On a process OF shall make any assignment git SAFE or
within Che United States or eewRr with intent a%5 e
delay deu or hinder bis creditors or who mas been arrested ana ped
sae S II y STATE Dcs or ego within which such debtor
ins, ,is S t s and nd i,ebas br pmeHt
p9 or rrr o p Icbe thereto ior period Of 20 days or Ls.
been actually Imprisoned ior more lan ~ ays N % aeaoR founded
nsoeni, contemplation OF bankruptcy or insolvency shall
maks any payment M sIaIi sale convey onCe or 'ng U Co
les judgment s property to be taken on legal poses with
persons who are or may be liable Tor him
on of o.. psoSey to ieieSt o. delay operation this
who being banAer bTS-er merchant. trader OF si
ha. aulaeay s'o2pe payment or VINO - SPI % Of a9
no. 'es11 ps 9 as ssy COMMITTEE pn act oil Sausmpe and
subject the conditions lefena'er prss,n'ei saa 10
%2o S, Constitute one fourth thereof at least numbers
AID The ss5I DDS oS Iord That snSn petition
brought within mouis after such act Of bahr1P shall have
mpusoy ay6unay bankruptcy comnend since 1873
,n,uce since 1873 and tie Of ibis act
onstGlri snSunt thereof as aod pctdonI
Sho he aIgd BANKRUPT AMI appear
and saoo"' have not 80 Peuo9s tn our n gran'
eSc ,aeztp Jaws aad N cS hereafter commenced DAYS
eIwrson limited The num6r aai amount shall comply
Sr, ,Y S at the expiration Of such Limited time
shall aoi he requirements 81 'hs section toe foc.ei
AMI sacl person slabe aaged bankrupt the assignee
s s s ssasue ' or Ai Transferred eatoy 70 this se
sS Ss r 5s ae s that s aebof @s. p,S
vea aud knew that fraud OF @ act was intended ana e1
prove moeS Of bis deb an4 this Limitation on the
bsnInptcy AMI TIE on under section may su
ceu ei the Oash' Of tie ar't five sgner thereof many
sso That section 30 Of by addne the
sSSs ss 10 o the coait ss Be requirement.
Of sector 80 Of said act as to t1e S0"S ana amount 81 P'n
.aesas IN numbers .n peioa
in number Of TIE creditors ana oneh IN Tie
sIuge judgment shall be 6oaL QherSse SHAH dismiss the
.ing.n caScsh tlercO
SEC That Al o. said acs be amended as follows Alter the
line g. strike out all Of ad section aud insert
ap unless such heaas or iua shall appear TO TIE
satisfaction Of court of the jury as the case may be- that The
facs set forth 10 sad petition are true OF u ns spea 'os1 tne
enee Of such nen. was INC o geIs on @ nan os "s
and hsnng approval Of the Court sod upon the assent
rambs and AMOUNT OF in creditors debtor
thereto such shall oe ORDERED ana al
EXISTING The date hss the petition ior bankruptcy except 30
sn all Ssfa orders and DEGREES
esrrJ the foregoing provisions into effect o., ,ov
SEC 10 following be added 10 Section 43 Of said
Sa' ~ . s . Sl ' ce s s5 s.n
1uptey have 6ees bad not The oeoI alleged bankrupt
hes than 10 DAYS ..,,ce TO each o,ns, known sn ''edI"J
OF sne "e p.rsoaSl or otherwise as the Cour,
ny resolve thai composition proposed b. the debtor shall Be
.A, Be- s as'5 Ssn p 81 sy S @V s
s sss .s :. 'p &C. eoSsf@si BY the
the seo.or aud calculating majority Of
os under tbs ,esS1' S so es"s ia the msiOy
10 value bes 90, IN the T.onH IN na%Ser aua me sso
Determined Court shall nearly circumstances admit be e
std IN the saoe wa and creditors whose debts are ia secured
r,0qashp security Tor Tie beaes Of the estate The debtor
shall be shall inquiries made OF
bm s9d he he 50 Ps19,S S% s such Te:Ts some
whole m assets aEd debts asd s names and addresses Of The cred