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

to avoid the service of legal process i'll
any action for the recovery of debt
or demand provable under this act; or
snail conceal or remove any OF his
property to avoid It's beiug 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 hinder his creditors or who has
been arrested and held i'll custody un-
Ger or by virtue of mesne process or
execution, issued out of any court of
the United States or of any State, Dis
trlct, 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 a sum exceeding one hun
dred dollars, and such process IS re-
naming in force and not discharged
py payment, Or in any other manner
provided by the law of the United
States Or of such State. District, or
Territory, applicable thereto, for
period of twenty davs. or has been
actually imprisoned for more than
twenty days i'll civil action founded
Oh contract for the sum of one hundred
dollars Or upward or who, being
bankrupt or Insolvent, or i'll contenl-
piar1on OF bankruptcy or insolvency,
shall make any payment, gift, grant,
Saie- conveyance, or transfer of money
or other property, estate, rights, or
credits, or confess judgment, or give
any warrant to confess judgment, or
procure his property to be taken on
legal process, with intent to give a
preference to one or more of his credi-
Or To -l.SN
are or may be liable for him as indor-
sers. bail, sureties. or otherwise, or
with the intent, by such disposition
OF his property, to defeat or delay the
operation of this act; or who, being
bank, banker, broker, merchant. tra-
der, manufacturers, or miner, has fraud
ulently stopped payment, or who be-
ing bank, banker, broker, merchant,
trader, manufacturer. or miner, has
stopped or suspended and not resumed
payment, within period of forty
days. of his commercial paper, (matle
or passed in the course of his business
as sucl). or who, being bank or
banker, shall fail for forty days to pay
any depOsitor upon demand OF pay
ment lawfully made, shall be deemed
to have committed an act of bank
ruptcy, and, subject to the conditions
hereinafter prescribed, shall be adj
Judged bankrupt on the petition of
one or more OF his creditors, who shall
constitute one-fourth thereof, at least,
i'll number. and the aggregate of whose
debts provable under this act amounts
to at least one-thirl of the debts so
provable Pfortdcd: That such petit
ton * brought within six months af-
ter such act of bankruptcy shall have
been committed. And the provisions
of this section shall apply to all eases
of compulsory or involuntary bank
ruptcy commenced since the first day
of December, eighteen hundred and
seventy-three, as well rs to those COM
menced hereafter. And in all cases
commenced since the first day of De-
ccmbcr, 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 fpetition-
ing certlitors be denied by the debtor,
by a statement in writing to that effect,
require him to file in court forthwith
Il full list OF his creditors, with their
places of residence and the sums due
them respectively. and shall ascertain,
upon reasonable notice to the credI-
tors, whether one-fourth in number
and one-third in amount thereof, as
aforesaid, have petitioned that the
debtor be adjudged a bankrupt. But
if such debtor shall, on the filing OF the
petition, admit in writing that the re-
quisite number and amount OF credi-
tors have petitioned, the court IF salts
fled that the admission was made Ill
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 rca-
sonable time. not exceeding. i'll cases
heretofore commenced, twenty days,
and, in cases hereafter commenced.
ten days, within which other creditors
may join in such petition. And if,
| at the expiration of such time 50 limi-
| ted, the number and amount snail
comply with the requirements of this
section. the matter Of bankruptcy may
proceed but ii. ut the expiration Of
such limited time. such number and
amount shall not answer the require
ments of this section, the proceediegS
shall be dismissed, and. III cases here
after commenced, with costs. And if
such person shall be adjudged Il bank
rupt, the ASST gnee may recover back
the money or property so paid, con-
veyed, sold, assigned, or transferred
contrary to this act: PTortded, That
the person receiving such payment or
conveyance had reasonable cause to
believe that the debtor was insolvent.
and knew that fraud on this act WIS
intended and such person, If credi-
tor, shall not, in eases of actual fraud
on his part. be allowed to prove for
more than a meiety of his debt; and
this limitation ON the proof Of debts
SHALL apply to cases of voluntary as
we'll as Involuntary bankruptcy. And
the petition OF creditors under this sec
ton may be sufficiently verified by the
oaths of the first five signerS thereof,
if so many there be. And if any of
said first five signers shall not reside
in the district in which such petition
is to be filed, the same may be signed
and verified by the oath or oaths of the
attorney or attorneys, agent or agents,
of such signers. And in computing
the number of creditors, as aforesaid,
who shall join in such petition, credi-
| tors whose respective debts do not eX-
| ceed two hundred and fifty dollars shall
not be reckoned. But if there be no
creditors whose debts exceed said sum
| of two hundred and fifty dollars fail to
| sign the petition, the creditors having
| debts ola less amount shall be reckoned
for the purposes Aforesaid.
| Sec. 13. That section forty of said
act be amended by adding at the end
thereof the following words; S'And if,
| on the return+lay OF the order to show
| cause as aforesaid, the court shall be
| satisfied that the requirement ofsection
| thirty-nine of said act as to the num-
Der and amount petitioning creditors
| has been complied with, or If, within
the time provieded for in section