The Albany register. [volume] (Albany, Or.) 1868-18??, 1874-11-20

such sales. including the power to set
aside the same and to order resale,
so that the property sold shall realize
the largest sum. And the court may,
i'm its discretion, order any real estate
OF the bankrupt, or any part thereof,
TO be sold tor one-fourth cash at the
time OF sale, and the residue within
eighteen months in such instalments
as the court may direct, bearing in
terest at the rate of seven per centum
nor annum. and secured by proper
mortgage or lien upon the property so
sold And it shall be the duty of every
assignee to keep a regular account of
all moneys received or expended by
him as such assignee, to which account
every creditor shall, at reasonable
times, have free access. Ii any as
sirnee shall fail or neglect to well and
| faithfully discharge his duties in the
sale or disposition of property as above
contemplated, it shall be the duty of
the court to remove such assignee, and
| he shall forfeit all fees and emoluments
| TO which he might be entitled i'll con-
nection with such sale. And if any
assignee shall, in any manner, in vio-
latiou OF his duty aforesaid, unfairly or
| wrongfully sell or dispose of, or in any
manner fraudulently or corruptly COM
| bine, conSpire, or agree with any per-
| son or persons, with intent to unfairly
or wrougtully sell or dispose OF the
| Droperty committed to his charge, he
! shall, upon proof thereof, be removed,
and forfeit all fees or other compensa-
| tion for any and all services i'll con-
! nection with such bankrup'tS estate,
and. upon. conviction thereof before
any court of competent jurisdiction,
| shall be liable to Il fine of not more
| than ten thousand dollars, or impris-
onment in the penitentiary for term
| of not exceeding two years, or both
fine and imprisonment, at the dlscre-
! ton of the court. And any person
so combining, conSpiring, or agreeing
| with such assignee for the purpose
| aforesaid shall, upon conviction, be
liable to like punishment. That the
assignee shall report, under oath, to
| the court, at least as often as once i'll
three months, the condition of the
estate i'll his charge. and the state OF
| his accounts in detail, and ut all other
times when the court. on motion or
otherwise, shall so order. And on
any settlement of the accounts OF any
| assignee, lie shall be required to ac-
count tor all interest, benefit, or ad-
vantage received, or in any manner
| agreed to be received, directly or i'll
| directly. from the Rse, disposal, or pro-
/ he shall be required, upon such set
| tlement, to make and file in court an
affidavit declaring, according to the
truth, whether he 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 as
sisnee may be examined orally upon
the same subject, and if he shall Will
| fully swear falsely, either i'll such aiii-
dayit or examination, or to his report
provided for i'll this section, he shall be
on conviction thereof, be punished by
imprisonment in the penitentiary not
less than one and not more than five
| years.
See. 3. That section eleven of said
act be amended by striking out the
words ''as the warrant Specifies, =
where they first occur, and Inserting
| the words '';lS the marshall shall Sc
| lect, not exceeding two; and Insert
ing after the word specifies where
in last occurs the words But when
ever the creditors Of the bankrupt are
/ so numerous as to make any notice
now required by law to them, by mail
or otherwise, great and dispropor-
tionat expense to the estate, the court
may, in lieu thereof, III its discretion,
ortier such notice to be given by pubii-
cation in Il newspaper or newspapers,
to all such creditors whose claims, as
| reported. do not exceed the sums, re-
spectively, of fifty dollars
Sec. 6. That the first clause of sec
/ zion twenty of said act be amended by
| adding, at the end thereof, the words
s'or in case of compulsory bankruptcy,
| after the act of bankruptcy upon or in
respect of which the adjudication shall
be made, and with view of making
| such set-off."
Sec. Z. That section twenty-one of
said act be amended by inserting the
following words in line six, immeeli-
ately after thereby: 'tBut a creditor
proving his debt or claim shall not be
held to have waived his right of action
or suit against the bankrupt where n
discharge has been refused or the pro-
ceedings have been determined without
a discharge.
Sec. s. That the following words
shall be added to section twenty-siX OF
said act: ''I'hat i'll all causes and
trials arising or ordered under this act,
the alleged bankrupt, and any party
thereto, shall be a competent witness.
Sec. 8. That in eases of compulsory
visions OF said act, and any amendment
thereof, or of any supplement thereto,
requiring the payment of any proper
ton of the debts of the bankrupt, or
the assent of any portion of his credi-
tors. as a condition of his discharge
from his debts. shall not apply; but lie
may, if otherwise entitled thereto, be
| discharged by the court in the same
manner and with the same effect as if
he had paid such per centum of his
debts, or as if the required proportion
of his creditors had assented thereto.
And in cases OF voluntary bankruptcy,
no discharge shall be granted to a
debtor whose assets shall not be equal
| to thirty per centun of the claims
proved against his estate, upon which
he shall be liable as principal debtor,
without the assent of at least one
fourth of his creditors in number, and
one-third in value; and the provision
in section thirty three of said act of
March second, eighteen hundred and
sixty-seVen, requiring fifty per centum
of such assets, is hereby repealed.
Sec. 10. That in cases of involuntary
or compulsory bankruptcy. the period
of four months mentioned in Sc ction
teirty-fve of the act to which this is
an amendment is hereby changed to
two months; but this provision shall
not take effect until two months after
the passage of this act. And in the
cases aforesaid, the period of six
/ months mentioned III said section
thirty-five is hereby changed to three
months; but this provision shall not
take effect until three months after the
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