Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1878-03-07

authorized by a legal vote of such corporation,
passed at legal meeting called for that purpose,
upon petition Of any creditor creditors of
such corporation made and presented as in this
act is provided in the case of an individual debtor
and upon such notice a. the judge shall order, a
hearing shall he had upon such petition, and if 1t
shall appear that such corporation il insolvent,
and that such facts exist as would authorize the
judge to issue a warrant against the estate of an
individual debtor, such corporation shall be adj
judged to be insolvent, and warrant shall issue
vided and all the provisions OF this act relating
to proceedings subsequent to the issuing of war
rant against the estate of individual debtor,
shall apply to said corporation and the disposition
of its effects and estate but discharge shall be
granted to such corporation, and nothing IN this
act shall affect the liability Of any stockhOder in
such corporation as is now provided by law.
SEC. S.. In all cases Of insolvency where the
hundred dollars, if the debtor at the first meeting
Of the creditors shall produce an affidavit by him or
them signed and sworn to before the Judge or regis
ter ofthe court insolvency of the tenor following
i, of in the county of do
solemny swear that have not removed, concealed
or secreed any money, papers, securities effects or
property, real personal, with the intent, pur-
pose or expectation of receiving, directly or indi
recty. any benefit advantage to myself and that
have not changed or falsiied any Of my books Of
account, deeds papers relating to my estate ar
that have not sold, pledged conveyed or trans
of insolvency, or made any conveyance, mortgage,
pledge, transfer or payment to any creditor, or
caused or procured any attachment Of my property
for the purpose OF preerring any of my creditors
and that have not, directly or indirectly, given
any creditor or other person any compensation or
promise OF reward, except reasonable council fees
for services influence in eflectng compromise
with my creditors, and that my assets and Iabil-
tiles are correctly stated in the schedule hereunto
annexed and signed by me.
And at the same time shall also produce an agree
ment signed BY majority in number of his cred
dollars, and by creditors holding three-fourths Of
all his Indebtedness, IN the form following -
We, the undersigned, creditors Of Of
in the county of ..... do hereby
agree to accept per cent. of our actual net
claims against him, the amounts of which are cor
rectly stated against our respective names, in fall
discharge of the same And we further agree that
we have not, directly or Indirectly received any
the per cent. herein named.
And if the judge shall be satisfied that such
agreement is signed by said proportion of the cred
itors of such DEBTOR and that such debtor has either
paid or secured the percentage named In such
agreement and according to the terms thereof, he
of the court, a full discharge of all his debts and
liabilities contracted prior to the commencement
of the proceedings in insolvency and named IN the
shall not be valid if the signature of any creditor
has been obtained by fraud, or If any material
statement contained in any such affidavit or sched
ule is false to the knowledge of the debtor making
the same, and creditor may sue for and recover
the balance of his claim debt against such debtor
In case the proceedings in insolvency are by or
against a cOpartnership, the affidavit, agreement
and certificate shall be varied accordingly, and
names of the members thereof. Before such
tifcate shall be granted, the debtor shall pay all
expenses incurred during the proceedings.
Sec. SO. Any person whose debt or debts do
not exceed the sum of three hundred dollars, may
at any time assign, convey and deliver to the reg
lister of the probate court of the county within
which he resides, all of his real and personal es-
tate, rights and credits not exempt by law from
attachment and seizure on execution. together with
schedule of the same signed by such Debtor, and
list of all his creditors, with their places Of resi-
dence, SO far as the same are known to him, and
thereupon the register SHALL with the approval of
the judge, appoint the time for hearing thereon,
before the Judge or such person as he may ap-
point to take such examination, and shall give
such notice to the creditors, of the time and place
Of such hearing as the judge may order, and any
creditor may appear at such hearing and examine
the debtor, under oath, concerning his business,
same. Such examn alton shall be confined within
such limits the Judge shall direct, and in
shall such examination be extended to any matters
arising prior to the time of the contracting of the
debts owed by such debtor at the time Of the ex-
animation. If it shall appear to the judge or the
person appointed by him to take such examination,
that the debtor has assigned, conveyed and deliv,
cred to the register all his said real and personal
estate rights and credits and that he has disclosed
to the register the names and places Of residence
of all creditors known to him, he shall administer
aht Al c,11z