Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-28

and the result of circumstances that would
mlslead men of ordinary prudence and sagaci-
tty and are of the opinion that the lesson
learned THIS year by consumers dealers and
transportation companies will afford all the
remedy necessary against the repetition of the
EVIL OF scarcity of fuel for many years to
come, and ask to be discharged from the
further consideration of these questions.
PROPOSED BANKRuPT LAW.
ID. Il. Moves, ..Jr., of the Mercantile
committee, submitted the following re-
port, which was unanimously adopted:
Your committee to whom was referred the
communication of the St. Louis merchants
exchanges, relative to Judge Lowell's draft of
bankrupt act now before Congress-, wonld
respectfully report that in their opinion there
is immediate and pressing need of a general
bankrupt law and a uniform system of bank
ruptey throughout the United States; and they
commend the revised s.sketeh of a bankrupt
aetD prepared by Hon. John Lowell, as a basis
Tor the same, it being especially commendablc
IN It's doing away with the 'fee'' system and
IN Its provisions for the early and jndicious
distribution of insolvent estates. AS has been
well said, 1T is more important to discourage
the occurrence of bankruptcies than to econi-
mise the settlement of insolvent estates,' and
to 40 this cOgnizance of the business career
and course OF the debtor for longer period
than six months should be had. No limita-
ton IN time should relieve him of due respon-
sibility for reckless and fraudulent acts
The amount of Indebtedness on which petit
$500 This is objected to as too
small, and the limit of 81 600
recommended. Our opinion is
that the limit should not exceed $500, five
hundred dollars. There is no good reason why
small but insolvent debtor should need to i'll
crease his debt to 81 900, in order to avail him
self OF the relief afforded by the bankrupt
act.
The composition propositions of the Lowell
act are Objectionable. 1t is very doubtful if
any composition with creditors after an in
solvents estate passes under control of the
bankrupt court should ever be allowed, but if
private settlement is majority in number,
and three-fourths in value, should be required
to determine it
olutlon, which, if adopted, shall be forwarded
to the Senator's and Representatives in Con
gress, from this State.
Resolved, That the chamber of commerce of
Saint Paul heartily favOrs the passage of an act
to establish uniform system of Bankruptcy
throughout the United States, and that it com
mends to the prompt and careful considera-
ton OF Congress the sketch of such an act
prepared by Hon. John Lowell, L. s. Icircuit
judge.
MIR. NoyeS also submitted report as a
communication from the New York pro-
duce exchange protesting against the
Withholding of custom house returns.
Adopted,
FAT OFFICES.
MIR. McClung offered the following:
Resolved, That L. B. Hodges, John Y.
Davidson and James Starkey be appointed q
committee to investigate and report what COM
pensatiOn is received by the sheriff and clerk
of the court in this county, and whether any
legislation is necessary to increase or reduce
their salaries.
After some debate Mr. F. Willus was
added TO the committee, and they were
also instructed to include other offices in
their investigation if they thought best.
MISCELLANEOUS.
The committee on legislation reported
that it was impracticable to attempt the
consolidation of the city and county gov
ernments. Adopted.
The committee on nominations re-
ported in favor of the mona acceptance of
Capt Barney's res ignation as director
and vice president, and the report was
unanimously adopted
The president appointed Mr. Inger-
soil on the executive COM
mlttee and committee on parks
in place of Mr.. Banning, resigned, and
A. Oppenheim was appointed on the
committee on legislation and general
business in place Of J. w. Bishop. w.
l.. Wilson was made chairman of the lat
ter committee. Adjourned.