Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-03-09
THE BANKRUPT BILL.

signature to Become Law.
The following is the copy of the proposed
bankrupt law which passed the legislature
and which the Governor now holds under
advisement:
BILL for an act to prevent debtors from giving
preference to creditors, and to secure the equal
ulstrlouuon OF the property OF debtors among
their creditors, and for the release of debts aaains
debtors. No''' "S'"iAs'
Be 1t, It Enacted By the Legislature Of the State of
or is ataeSsG the of debt
s e9,su ~ out Of court of record of this
s.a5e, or garnlshmens made against any debtor,
such deptor may, within ten days after such attach
ment' levy or garnshment shall have been made.
make ma an assignment of all his property and estate
r oe by law for the equal benefit of all his
cIealtors III proportion to their respective claims
who shall file releases OF their debts and claims
against such creditors as hereinafter provided
WHICH assignment shall be made in accordance with
ana De governed by the laws of the State of Mime
sofa felatng to assignments made by Debtors and
upon the making OF such assignment all attachments
levy or earmshlnent so made shall be dissolved I'M
less the assignee shall within five days after such as
sgnment lille in the Office of the clerk of the court
where such attachment was issued or Judgment was
rendered notice of his intention to retain such at
tacnneht, levy or garnishment, in which case any
such attacnment, levy or garnshment shall remain
ana lnre to the benefit of all the said creditors and
may be enforced by the assignee in the same
manner as the plaintiff might have enforced the
same had such assignment not been made Pro
vlded that this section shalnot apply to cases where
an execution has been issued upon Judgment in an
acuOn where the complaint has been filed in the of
entry OF the Judgment.
Sec. z Whenever any debtor, being insolvent,
shall confess Judgment, do any or make any
conveyance whereby any one of his creditors shall
OBTAIN preference any other of his creditors
or shan omit to do any act watch he might lawfully
20 10 prevent one of his creditors from obtaining
preference his other creditors contrary to the
intent of this act if he shall not within ten DAYS
a1ter any levy by attachment or execution garnsh
his property provided in section one of this act or
IN good faith institute proceedings to vacate the at
tachment and execution, or secure release of the
levy ana at the inst opportunity defend the garnsh-
ment then any two or more of his creditors holding
debts or claims of not less than hundred dollars
IN amount may make petition to the district court
or Judge thereof setting forth therein such matters
ana Facts as may be pertinent which petition may be
heard i'll any county in the discretion of the ide
and after notice to the debor and creditors to
De preferred, of the time and place of hearing, the
court in term time judge in vacation shall pro-
ceed summary upon such petition to hear the parties
ana receive such evidence as may be proper and if
it shall appear to the court or a Judge that such
debtor is insolvent has been giving or is about to
give preference to any of his creditors over other
OF such creditors or has refused neglected to make
an assignment OF his property herein provided,
the court or judge shall appoint receiver who shall
take possession of all his property, evidences Of
property or Indebtedness, books papers-debts
cases in action, and estates of every kind of the
debtor not exempt by law-including property at
tached or levied upon garnisheed in the manner
and subject to the limitations herein provided, and
I'll property conveyed in violation to the provisions of
this act and have charge and control all debts or
property garnisheed, and shall within four months
from the time of his appointment, unless the court
judge otherwise direct convert the same to money
and shall marshal and distribute the same among the
several creditors in proportion to their several claims
VINO sha ne releases Of all claims against the
solvent debtor in consideration of the benefit of the
provisions OF this act as hereinafter provided,
whether their claims due or to become due. who
shall come in and prove their respective claims With
ID sucn tlne and IN such manner as the court or
Judge shall direct and the court or Judge shall order
the debtor to file a schedule OF his debts and to
whom due and of his property and the proof of
claims OF debts, and the payment of dividends in all
proceedings by receivers shall be had under the pro-
Visions of the laws of this State relating to receivers
and the court or judge may order and direct such
dsbtor to do whatever is necessary and proper to
Sec. 3. No assignment hereafter made for the
dement, OF such creditor shall give to any creditor
any preference over the claims OF another creditor
except IN cases expressly provided by law.
Sec. 4. Conveyances and payments made and Sc
curltles given by an insovent debtor debtor in
contemplation OF insolvency, within thirty days of
DEBTOR under this act, or within thirty days of
making an assignment as provided in section
one 81 with view of giving preference to any
under liability for such debtor over another shall be
void as to all creditors persons receiving the
same who shall have reasonable cause to believe that
such debtor was nsolvent, and all such conveyances
mace and securities given at any time unaccom-
panied with the delivery change of possession of
the property to the grantee, unless the instrument
containing the grant shall have been duly filed or
docketed before the commencement Of such thirty
days, shall be void as preference to any creditor
and the receiver or assignee may by action or other
proper proceedings have all such conveyances, pay
ments and preferences annulled and adiudeed void
and recover the property so conveyed or the value
thereof and recover the payment so made, and con-
vert all proceeds into money provided in tti, It,
not apply to any payment or satisfaction in whole or
in part of past due debt made in the usual course
of business, without any intent on the part of the
creditor to evade the provisions of this act.
Sec. s. All actions or proceedings brought under
the provisions of this chapter shall be commenced in
the county where the debtor resides if resident of
such action or proceeding may be brought in any
county where the defendant has property sub
Ject to attachment or levy. The court judge may
at any time during the pending of the petition under
the second section of this act, allow parties to
come in and be joinedIin such petition.
Sec. 3. Costs in cases upon which attachments
or evys are made which dissolved under the pro-
visions of this act shall be preferred and be paid first
by the receiver appointed hereunder.
Sec. z. All factions and proceedings to be COM
enced under the provisions of this act may be COM
menced and prosecuted in the name of the assignee
or receiver appointed herein provided, and all
laws of this State of general nature applicable to
receivers and assignments and not in conflict with
the provisions of this act, shall apply to assienees
and receivers appointed hereunder as the case may
require.
Sec. g. Any creditor whose claim is disallowed in
whole in part by assignee receiver appoint
ed or selected under this act under the provisions
OF the assignment laws of the State regarding assign
ment OF debtors may appeal from such dsaowance
to the district court and there have such claims tried
as other civil actions. The assignee shall within ten
days after his disalowance of any claim in whole
part give written notice to such creditor Of such
dlsallowance which notice may be served personally
or by mail, as in other cases, such creditor, his
agent or attorney and thereupon such creditor may
appeal from such disailowance within ten days after
the service upon him of such notice of disalowance
made by the assignee, and which notice may be
served on such assignee personally or by mail as
aforesaid, and IN case such service is by mail the
time within which such notice of appeal is to be given
shall be within twenty days from the time of such
tice.
Sec. 9. In case of the death of any assignee or
celver the court may appoint another to fill the va
cancy.
Sec. 10. No creditor of any ms olvent debtor shall
receive any benefit under the provisions of this act
or any payment of any share of the proceeds of the
debtors estate unless he shall have first filed with
the clerk Of the district court in consideration of the
benefits of the provisions of this act release to the
debtor OF all claims other than such as may be paid
under the provisions Of this act for the benefit Of
such debtor, and thereupon the court or judge may
direct that judgment be entered discharging such
debtor from al claims debts held by creditors who
shall have filed such releases.
Sec. IL. Such assignee or receiver shall within
ten days after his appointment publish a notice in
daily newspaper, published at the capital
of the State, and also in a weekly daily newspaper
in the county, if any is published where the debtor
resides, of his appointment and all creditors claim
ing to obtain the benefit of this act shall file with
such assignee receiver their claims within twenty
days after such publication.
Sec II. This act shall take effect and be in force
from and after it's passage.
outrage IN u French RaittOGU Carriage.
Says Paris letter of Fep. ID: ''There are
complaints of the increase of street attacks,
and yesterday a railway carriage was the
scene of crime. A girl of excellent charac-