New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-07-26

months after the passage of this act. And
in the cases aforesaid, the period Of six
months mentioned ia said section thirty five
ia hereby changed to three months; but
this provision shall not take effect until
three months after the passage of this act.
Sec IL. That section thirty five Of said
act be, and the same is hereby, amended as
follows:
First. After the word "and" in line
eleven. insert the word knowing"
Secondly After the word attachment"
in the same line. insert the words "seques-
tratiOn, seizure"
Thirdly. After the word land" in line
twenty. insert the word knowing" And
nothing in said section thirty-ive shall be
construed to invslidate any loan of actual
value, or the security therefor, made in good
faith, upon security taken in good faith
on the occasion OF the making OF such loan.
SEC. IL. That section thirty nine of said
act of March second, eighteen hundred and
sixty-seven. be amended 80 As to read as
follows:
SEC. 80. That any person residing, and
owing debts, as aforesaid, who, after the
passage of this act, shall depart from the
State, District or Territory Of which he is
an inhabitant, with intent to defraud his
creditors; or, being absent, shall, with
such intent remain absent; or shall con-
ceal himself to avoid the service of legal
process in any action for the recovery
of debt or demand prOvable under this
act: or shall conceal or remove any of
his property to avoid its being attached,
taken or sequestered on legal process;
or shall make any assignment, gltt sale,
convey ance, or transfer OF his estate, prop
erty, rights, or credits, either within the
United States or elsewhere, with intent to
DELAY, defraud, or hinder his creditors; or
who has been arrested and held in custody
under or by virtue of mesne process or
execution, issued out of any court of the
United States or Of any State, District, or
Territory within which such debtor resides
or has property, founded upon demand In
its nature provable against bankrupt,s
estate under this act, and for sum exceed
ing one hundred dollars, and such process
is remaining in force and not discharged by
payment, or in any other manner provided
by the law of the United States, or OF such
State, District, or Territory, applicable there
to- for period of twenty days, or has been
actually imprisoned for more twenty daysln
q civil action founded on contract for the
sum of one hundred dollars or upward; or
who, being bankrupt or insOlvent, or IN
contemplation of bankruptcy or insolvency,
shall make any payment, gift, grant sale,
property, estate, rights, or credits, or con-
TESS Judgement, or give any warrant to
confess judgement, or procure his property
to be taken on legal process, with intent to
give preference to one or more OF his cred
itors, or to any person or persons VINO are
or may be liable for him as indorsers, bail,
surefies, or otherwise, or with the intent,
by such disposition of his property, to
defeat or delay the operation of this act; or
who being a bank, banker, broker, mer-
chant, trader, manufacturer, or miner, has
fraudulently stopped payment, or who be-
ing q bank, banker, broker, merchant,
trader, manufacturer, or miner. has stopped
or suspended and not resumed payment,
within a period Of forty days. OF his CON-
mercial paper made or passed IN the course
of business as such), or who, being bank
or banker, shall fail tor forty days 70 pay
any depositor upon demand OF payment
lawfully made, shall be deemed to have
committed an act of bankruptcy, and, sub
iect to the conditions hereinafter prescribed,
shall be adjudged a bankrupt on the petit
ton of one or more of his creditors, who
shall constitute one fourth thereof, at least,
in number, and the aggregate OF whose
debts prOvable under this act amounts to at
| least one-third OF the debts so provable;
provided, that such petition is brought
within six months after such act of bank
ruptcy shall have been committed. And
! the provisions of this section shall apply to
all cases of compulsory or involuntary
| bankruptcy commenced since the first
day OF December, eighteen hundred
and seyenty.three, as we'll as those
commenced hereafter. And in all cases
commenced since the first day of Decem-
| Der, eighteen hundred and seventy
| three, and prior to the passage of this
| act, as we'll as those commenced here
after, the court shall, if such allegation as
| to the number or amount of petitioning
| creditors be denied by the debtor, by a
| statement in writing to that effect, require
| him to file in court forthwith q full list of
| his creditors, with their places OF residence
and the sums due them respectively, and
shall ascertain, upon reasonable notice to
the creditors, whether one-fourth in num-
Der and one-third in amount thereof. as
| aforesaid, have petitiened that the debtor
| be adiudged q bankrupt. But it such
| debtor shall, on the filing of the petition,
| admit in writing that the requisite number
| and amount of creditors have petitioned,
| the court (if satisfied that the admission was
made in good faith shall so adjudge, which
| Judgment shall be final, and the matter
proceed without further steps on that sub
| iect. And If it shall appear that such
| number and amount have not 80 peti
toned, the court shall grant reasonable
time, not exceeding, in cases heretofore
commenced, twenty dsye, and in cases here
after commenced, ten days. within which
other creditors may Join in such petition
And if, at the expiration of such time 81
limited, the number and amount shall com
ply with the requirements OF this section
the matter of bankruptcy may proceed; bu
| if, at the expiration of such limited time
such number and amount shall not answer
the requirements of this section, the pro
ceedinys shall be dismissed, and, in case
| hereafter commenced, with costs. And i
such person shall be adjudged bankrupt
the assignee may recover back the money o
property go paid, conveyed, sold, assigned
or transferred contrary to this act; provided
that tine person receiving euch payment o
conveyance had reasonable cause to be
lieye that the debtor was lnsolvent, ant
knew that a fraud on this act was in
tended; and such person, if creditor, shall
not, in cases of actual fraud on his part
be allowed to prove for more than molet,
of his debt; and this limitation on the proc
of debts shall apply to cases of voluntar
as we'll as involuntary bankruptcy. AM
the petition of creditors under this section
NAV be sufficiently verified by the Oaths Q
the first five signers thereof, ii 80 man
| there be. And if any of said first five slgr
ers shall not reside in the district in whic
such petition is to be filed, the same ma
be signed and verified by the oath or oath
of the attorney or attorneys, agent Q
agents, of such signers. And in cOmputln
the number of creditors, as aforesaid, VIII
shall Join in such petition, creditors who's
respective debts do not exceed two hundre
: and fifty dollars shall not be reckened. Br
if there be no creditors whose debts excee
said sum of two hundred and fifty dollars
!, or if the requisite number of creditors hole
ing debts exceeding two hundred and fit
: dollars fail to sign the petition, the cree
itors having debts of a less amount cha
be reckoned for the purposes aforesaid"
Sec. ID. That section forty Of said act