, 1875-07-07

tho maMh0rf OF tho bankrupt firm Waa tleu
present. Though In tho lso4tster'a opinion there
we're ettistnctory reasons for tho bsnkrupts' ab-
seloo. yet there waa no evidence to show that
creditors connideted thosn reahonn aufnciont.
Thoy supposed That tho members of tho firm
unre ont u tho Jurisdiction Of tho Court, hnd
M. AZ ono OF the banks'ipts waa IN Chicago about
I'll" Lima of tho meetluR, and tho roaaona alleged
we're fAlne, and cuutl not aven 10 binding Oil tho
cFsaItorA presont. much losa on those abHant.
Ihh petitioners AFRO hlloge that Tho compoal-
tlon "focoatlinge wore vatd bnch'tho none OF tho
BANKRUPT i7ni nigned tlle resolutions psaastl at
stle meeting; nof va ti'ero any ovidenco that
Moto Bucli Afgnlng allowed.
AHer1lEn onjECr1nx
was that bankrnps, 10 hyntt themselves OF the
benefit Of tho law. must submit themselves to
The fccord that thoY might be hold respops.blo
for any el"lvocatlnn Of dovta.[on from truth or
fair-.iehnR. Hut In tho ptceent case osery paper
hal been signed BY their assorncys.
STU another objection Has that thnre Was
denls1 Of bankruptcy Iilod and tho case In faot,
nj present stood for ts,al on that tsstle, whnn,
in order to mako tho composltinn binding, thero
should have bean previous adjudication.
Tho petitioners alBo ntAto that At tho meeting
feseloua honor That their clients would oniy
havo about $4,000 Attcr their debts weso paid.
This. II Ia alleged.
CANNOT NJ TRUE,
for tho bankrnpl8, for long ttmo rraviou 10
their absconding. Ilad boon ongaRod In dafraud-
ing thor creditors nith the intent OF finally com-
pounding with thclr ylotius, aud had bought
o7or s1oo, ooo Of Rocda which they withheld md
msdc no account Of That was q contempt to
poEa1latlc Court to help thom in such pract,cos.
or 10 sanction such frald BY allowing compo-
sitnn n'ooting 1nder such circumstances. The
petitioners therefore ask tdat the composition
may bo set nsfdo and that the bankruptcy pro-
cordings may ba con.innod.
IN suPponT or TIE PETITION
weeo flcd treo aflidavisa. Tho frat ono WAS
that Of jerome n. Chairman. who slated that ho
a5.003 and that ho nsEor signed ths COMPOST.
tton resolutions, though he was ono OF tho Com-
mittoa apppinsad to inquire into tho silnhtlo1
Of affairs: The attorneys Of tho hans-
olieats having mot with heavy losses. es.
bad r,,n away 10 Canada, aud offered 10
hay $40, 600. Ihts thoy subsequently, reduced 10
Sl5. 100. aud than roaa to 927 b6o. Tho attorneys
eienoo's hands, aud that thoy could not par moro
than about u per cent. It was alHo alleged at
tho injecting thu. the Assignee had tho bulk OF
the property, aud that that patt whtca had bean
spirited away by the baukrnpts was Of such
nnnIl 7uiuo TINT only tho bankrupts could mike
anything out Of 1t. resolution wna offered At
tho snmo meeting that the tcaaoas Eivon by tho
banksupss for thoir abHonca woro tnsuftloRbt.
Il il were 1t would put Ri cnd to the whole COM
promise, aud tile resolution to adopt tho 81 por
cont was paased, il boug supposed that this WAS
tho boss that could 10 done. Mr.. Chapman also
staloB that ho believes tho bankrupts lavo largo
amounts Of goods concealed. In one caAc, where
IT WAX said few Ghosts Of ton wors hidden, after
tho composition tho debtors Bent In car-!ond Of
tea. which Was sold for S., QUO; autl III another
case a fos barrels OF hugnr grow into 5000
worth. Tho firm lad represented that thoy bud
iG5, ,O00 IN tho business, and wero worth $55 900
above nj! debts. aud proposed to pay cash foF all
goods after jas. l, 1a75. but t!loy cloaol Dec. 81,
1874, and tho cash arrangement mover wont Into
effect,
WILLIAM RTCwAnT
also flied IN affidavit showing that he had
spont mich fruiteas linlo In eudcasor,ng to
ASCERTAIN the amount OF gools the baukrupts
carried away With them. Only Il, 500 worth wcru
were received by the Assignee, wl,Ile tho debts
amounted to 19;0.0ao. Tie affidavit OF II. II.
AdamB staten that ho vaa inducrl to accept the
compromise through the representatives OF tho
bRnhrnpa' attorneys. md supposiny 1t Was the
best that could bo done.
An order was cnsorcd by Judge Dtoagest On
tho petition, ordering tllo dobtosB to Bhow cnuse
within five days after Aolyce OF notice, why tho
a"nnaaltion procco]luga should not be set aalue
aud tlc bankruptcy proccodu1gB coutnuud.