Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1874-09-10
upon a security taken in good faith on the oc

seven, Oe AU1eRuSu SO as " Te2u hS lOllOWS.
"SEc- SO. That any person residing, and |
owing debts, as aforesaid, who, after the pas |
sage of this act, shall depart from the State, |
District, or Territory of which he is an in |
habitant, with intent to defraud his creditors; |
or being absent, shall, with such intent re- |
main absent; or shall conceal himself to avoid |
the service of legal process in any action for
the recovery of a debt or demand proYable |
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, gift, sale, conveyance, |
or transfer of his estate, property, rights, or
credits either within the United States or else
where, with intent to delay, defraud, or him |
der his creditors: or who has been arrested and |
held in custody under or by virtue of mense |
process or execution, issued out of any court |
of the United States OF of any State District, |
or Territory within which such debtor resides |
or has property, founded upon a demand in |
its nature provable against bankrupt's es-
tate under this act, and for a sum exceeding
one hundred dollars, and such process is re-
manning in force and not discharged by pay
ment, or in any other manner provided by
law of the United States or of such State, |
Districts or Territory, applicable thereto, for
period of twenty days, or has been actually
imprisoned for more than twenty davs in
civil action founded on contract for the sum
of one hundred dollars or upward; OF who,
being bankrupt or insOlvent. or in contempla-
ton of bankruptcy or insolvency, shall make
any payment, gift, grant, sale, conveyance,
or transfer of money or other property, estate,
rights, or credits, or confess Judgment, CT give
any warrant to confess Judgment, or procure
his property to be taken on legal process, with
intent to i've preference to one or more ofhis
creditors, or to any person or persons who are
or may be liable for him as indorsers bail,
sureties, or ortherwise, 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, merchant, trader, man
ufacturer, or miner, has fraudulently stopped
payment,or who being bank, banker, broker
merchant, trader, manufacturer, or miner, has
stopped or suspended and not resumed paw
ment, within period of forty days, or his
commercial paper, (made or passed in the
course of his business such), or who, being
bank or banker, shall fail for fortv DAYS to
pay any depositor upon demand of payment
lawfully made. shall be deemed to have com
mitted an act of bankruptcy, and, subject to
the conditions hereinafter prescribed, shall be
adiudged bankrupt on the petition of one or
more of his creditors, who shall constitute
one-fourth thereof, at least, in number, and
the aggregate of whose debts prova5le under
this act amounts to at least one-third of the
debts SO provable: PrOUided, That such peti-
tion is brought within six months after such
act of bankruptcy shall have been committed.
And the provisions of this section shall ap-
ply to all cases of compulsory or involuntary
bankruptcy commenced since the first day of
December, eighteen hundred and SEVENTY
three, as well as to those commenced hereaf-
ter. And in all cases commenced since the
first day of December, eighteen hundred and
seventy three, and prior to the passage of this
act, as well those commenced hereafter, the
court shall, if such allegation as to the num-
Der or amount of petitioning creditors be de-
MED by the debtor, by a statement in writing
to that effect, require him to file in court forth.
with full list of his creditors with their
places of residence and the sums due them
respectively, and shall ascertain, upon reason
able notice to the creditors whether one
fourth in number and one-third in amount
thereof, aforesaid, have petitioned that the
debtor be adjudged bankrupt. But if such
debtor shall, on the filing of the petition, ad-
nit 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 subject. And if it'shall
| appear that such number and amount have
| not SO petitioned the court shall grant reasona
BILE time, not exceeding, in cases heretofore
commenced, twenty days, and, in cases here
| after commenced, ten DAYS, within which 9th =
1 If, at the expiration of such time so limited,
| the number and amount shall comply with the
| requirements of this section, the matter of
! bankruptcy may proceed but if at the expi-
ration of such limited time, such number and
| amount shall not answer the requirements of
| this section, the proceedings shall be dismiss
| ed, and, in cases hereafter commenced. with
| costs. And if such persons shall be adjudged
| O. bankrupt, the assignee may recover back
the money property so paid, conveyed sold
assigned, or transferred contrary to this act:
ProUided, That the person receiving such pay
ment or conveyance had reasonable cause tC
| believe that the debtor insClvent, and
| knew that fraud on this act was intended
and such person, if a creditor. shall not, in
cases of actual fraud on his part, be allowed
to prove for more than a moity of his debt ;and
this limitation on the proof of debts shall ap
ply to cases of voluntary as well inYolun-
tary bankruptcy. And the petition of credi
tors under this section may be sufficiently YER
ified by the oaths of the first five signers there
of, if SO many there be. And if any of sale
first five sgners shall not reside in the district
in which such petition is to be filed, the same
may be signed and verified by the oath o.
oaths of the attorney attorneys, agent OF
agents, of such signers. And in computing
the number of creditors, as aforesaid, wht
shall join in such petition, creditors whose
respective debts do not exceed two hundred
and fifty dollars shall not be reckoned But i
| there be no creditors whose debts exceed sale
sum of two hundred and fifty dollars, or if tn
requisite number of creditors holding debts
exceeding two hundred and fifty dollars fai
: to sign the petition, the creditors having debt
of less amount shall be reckoned for the pur
poses aforesaid.
Sec. l3. That section forty of said act b
amended by adding at the end thereof the fol
4 lowing words: 'And if, on the return-daY c
the order to show cause aforesaid, the coul
shall be satisfied that the requirement of sec
ton thirty-nine of said act as to the numbe
and amount of petitioning creditors has bee
complied with, or if, within the time provided
. for in section thirtY-nine of this act, creditor
sufficient IN number and amount shall sig
| such petition as to make total of one
| fourth in number of the creditors and one -thir
= in the amount of the prOvable debts agains
u | tho ha lypunt DPoVj6e1 in said
. court shall adjudge, which Judgment sha
: be final; otherwise it shall dismiss the pro
- ceedings. and, in cases hereafter commenced
= with costs.
SEC. IA. That section forty -One of said al
- be amended as follows: After the word 'sbanl
: ruptcy," in line eight, strike out all of sal
Il section and insert the words, cor, at the elec
10 ton of a debtor, the court may, in its discre
~ ton, award q venire facias to the marshal
~ the district returnable within ten days befo
:. = him for the trial of the facts set forth in Il
y petition, at which time the trial shall be hat
unless adjourned for cause. And unless VI
4 on such hearing or trial, it shall appear to Il
- satisfaction of said court, or of the jury,
y the case may be, that the facts set forth in
- petition are true, if it ehall appear that Il
~ debtor has paid and satisfied all liens upt
- his property, in case the existence of sue
20 liens was the sole ground of the proceedin
!; =; the proceeding shall be dismissed and t
e respondent shall recover costs; and Rll pr
- ~ ceedings in bankruptcy may be discontinu
rs on reasonable notice and hearing, with the a
- % proval of the court, and upon the assent,
!" writing, of such debtor, and not less than O
" half of his creditors in number and amour
5 ia1 or, in case all the creditors and such debt
81 ~ assent thereto, such discontinuance shall
af ordered and entered; and all the parties sh,
VI VI be remitted, in either case, to the same righ
'e and duties existing at the date of the filing
- the petition for bankruptcy, except so far
Sc such estate shall have been already admin
tered and disposed of. And the court sh
lS have power to make all needful orders and
crees to carry the foregoing provisions into
VI vi feet"
'u[ SEC. Is. That section eleven OF said act
rO u amended by inserting the words "and vail