Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1874-06-26

GENERAL BEATTI.-This efficient officer,
we arc glad to see, will no doubt be renomi-
mated for the same Office he has occupied for
the last three years, with entire satisfaction.
The General is entitled to n second term, and
having so satisfactorily served the people
without even a complaint from the opposi-
ton ranks, he will be the most available
candidate that the Republican State Con-
veniion can nominate. The Philadelphia
North Americar speaking of the Generals
denomination says:
sour attention has been called to the fact
that under the new Constitution the posi-
of Surveyor General of the State will be
merged ut the ensuing fall election in the
Office of Secretary of Internal Affairs, max
ing it necessary to nominate some one for
that position. Viewing the entire field we
can see nothing standing in the way of the
selection of General Robert b. Beath, the
present Surveyor General. General Beath
is under ordinary party rulings, entitled to
the position, and deserves cordial support
everywhere. His administration of his pre-
sent duties has been conducted in man
ncr which has reflected great credit upon
himself, and has given satisfaction to all
whose affairs have brought them in contact
with him. An earnest Republican from
the first and gallant soldier during the
entire rebellion, his political and military
record thoroughly second the claims he has
upon the people of the State. We trust
that the Philadelphia delegation will use
every legitimate influence to secure the sue
cess of gentleman whom we believe to be
entirely worthy of confidence and support. :"
THE NEW BANKRUPT ACT.-TEe fol-
lowing are some of the provisions of the
new Bankrupt Act adopted by both Houses
of Congress, which will probably receive the
approval of the President:
First. No proceedings can be taken in
involuntary of compulsory bankruptcy eX-
cepting by the action of onc-fourth in num-
Der of creditors and one-third in value of
claims against the debtor.
Second. The provision of the present law
requiring that the assets of an involuntary
bankrupt shall be equal to fifty per cent. of
the Indebtedness (proved or provable) is
repealed, without limitation.
Third. In voluntary bankruptcy the
bankrupt may be discharged on the pay
ment of thirty per cent. upon his liability,
provided that one-fourth of his creditors in
number, and they representing one-third
of the amount Of proved or provable in
debtness, agree to his discharge.
Fourth. A composition may be effected
without regard to proceedings in bank
ruptcy, by a vote of majority in number
of creditors, who shall adopt resolution
to that effect ut u meeting duly called, on
due notice, on such creditors as may be
present or represented by proxy said re-
solution to he certified 10 court, to be sign
ed by 4 certain number (iive-eighthsl Of the
creditors, representing a certain proportion
(three-fourths are believed to be the pro-
portion) of the Indebtedness, which, if had,
SUCH coinposlIiou may pc cHtoiCcu upoH
the nOnagreeing creditors.
Fifth. The Two periods of four months
and six months, prescribed as the limits of
certain reclaiming and voiding processes,
are reduced TO sixty days and four months
respectively, but this is not TO take effect for
two months after the passage of the act.
Sixth. The expense of all officers, agents,
&C., to be reduced to one-ha!f the present
rates the old rules to remain in force until
the Supreme Cour. shall arrange the new
tariff of charges.
INoTE.-In estimating the number Of
creditors in certain cases no debt under $50
is counted in the number, though it may be
computed in value.