The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-01-11
ANALYSIS OF
A Sketch OF An Act 10 Establish n
Uniform System OF Bankruptcy
Throughout the United States.
lsEcoNp rp1r1oN, NoYrMnEn 1sSO

kskyoND EDITION. NOVEMBER looOJ
In drawing up this bill the language of TIT
former act has been followed as fer as prRc
ticsble, in order that use might DO made o
the numerous and important decisions con
STRUNG that Language under the former law
and that tho changes made by the presen
law may more readily be understood, the fol
lowing analysis of it Is given:
By section l some definitions arc MAIDS t
rave repetitions ana redundancios in the &C
itself. Ard especially it will DO noticed tina
the word court" includes tho register; 81
wherever the word "court" is used in tho set
the register can perform the act in ques
ton as well as the judge. Where
it is deemed important that the
judge should act personally, the word
Judge" is used.
The sections from 2 to Courts of Bank.
ruptcy) give jurisdictions aud powers to ths
courts substantially as they were held to be
under the former statute, but they are ex-
planned with good deal moro care, to pre-
vent litigation in ascertaining the various
powers OF the different courts.
Section 9 (Pensry Suite. Tho state courts
are to hsye full jurisdiction of all actions be-
tween party and rady under the bankruptcy
law, US distinguished from more proceedings
in bankruptcy.
Section II and u. Tho circuit courts have
supervision over tho district courts, as under
the former law, in all proceedings in bank,
Iupley strictly so called, and appel
late power in setions at law aAd
In equity, If moro than five hundred
dollars Ia value is IN dispute, The supreme
court has appsllato poWer in all actions in
courts OF .he United States, if tho Amoant is
larga enough, as 10 other civil c5aqI, hut not
IN proceedings in the bankruptcy Itself This
law is like the act cf 1867 0nd tho act Of 1871;
IN boa of which i! was Thought desirAble
that l1e proceedings Ia tho bankruptcy ITSELF
shout DO summary, and should not be do
layed hy any appeal to the supreme court.
s{e ms 10 to 10 (Rogsteri) The regis.
terra " made salared officers. II is con
sldered very important that registers should
DO paid by salary rather than by fees.
Tho powers Of registers are very much ia
creased over those given by the former act.
They hre to hold meetings and hearings ia
the various parts Of their districts in such a
manner as to afford the greatest practicable
facility to the sulors. II Is thought that one
serious Objection to the working of tho act
WAS Tho distance which parties and their
lawyers woro obliged to 90 to find cour. Of
bankruptcy, md the intention is to remedy
this as much IS possible
, Sections l6 to 10 (Suporvlsors) A sa'ared
officer Is appointed 10 keep personal watch
over the administration Of pll tho proceedings
IN each circuit, in order ~ see that ,hey sIo
conducted speedily, lawfully, ccontuically.
aud uniformly, and to make Quarterly ro.
ports of the state o; tho business in each dis.
trict to the judge, who 10 TO send COPIES 10
the attsraoy general. 1t is hoped that,
through this latter officer, congress will be
kept Informed of any defects which are found
gested In the law.
Section q ENTRY and Clerks Foes). The
clerks lees are reduced to ~ low a point pa
i Thought TO DO practicable consistently with
ths general law which requires every clerks
office to be self.supporling; and they arc 10
issue Inc notices which vera formerly
Issued by tho marshal, aud the latter
officer VIII no! be employed uaoss the court
Issues u warrant for some special cause.
Section 70 (Rules). The supreme court are
TO havc power to make and prescribe rules
OF practice and forms and modes of proceed
ing as fully as they may now do ia equity.
This obviaIes the necessity of specifying In
the law many matters Of oetsil watch should
properly be loft to tribunal more familiar
VITA the details than congress can possibly
be. r''''''
by Section ~ (Wsrranis), tho power is
gwen TO tho courts 10 put the marshal i0
possession u the property, when necessary,
IN voluntary and involuntary caees, There
was no express power given ia the former
law 10 DO this IN voluntary caoos, md tho
power To arrest a bankrupt, who 10 about to
leave the district, and hold him TO bail. Il
amended In such wfy Us TO rresiro tbe
bankrupt to abide all the orders If ibo
court and not merely tho decision On tb..
question of his bankruptcy, Under Tbs for.
mer law, ne was simply to present himself
ward depart
Section 80 (tlearngs), This section has,
oeeh prepared IA The nope that written W.
aminslions, which vera Formerly very a,.f-
Inl OF time and money may 10 abridged
Ihey arc to DO oral. The register Il to bsye
power TO order the ev denoo TO b. tskan down
Ii lull, or may report the substance or aIeet
oft. VI ''A'''
Section % (Involuntary Bankruptcyl Tho
acts q bankruptcy arc substantially Uke
those Of the former law, adding few such
as failure to dissolve an attachment. which
Is avery important matter in tho Nav Enc.
land states, where MI actions may begun by
assessments ftilureto pay open acoounts &
ADDED TO the former sct, which applied only Ia
commercial paper. Both of them. howevsr
are confined 10 "traders."
Attachments and transfers made in secrst
may DO awaited Of within three months altar
tney nave become public by record, and SO
lor.n. me danger which WAS approhended
OIL oppression or persecution, ii a SINGLE
creditor hsd power TO put debtor into
pahkrupiey, " met by requiring that ut least
three sheuld join in the petition when thero
are more than twelve creditors ia all.
Sections 81 aud 80 First Meeting. Cboico
snd Qualification Of Assigneei). ma chSiee
OF On assignee 10 by the creditors. ,na evarv
assignee. without exception, ia 10 r,ye n hand
Tor the faithful performance Of his dniias
and small creditors who ara 10 be naia ~
full, shall not vote for sssigaoe on thp nr;r;
legged pa,t of their debts; and, ne unAar IA
former acs preferred creditors arc not 20 vo, tO
unless they shall first surrender their nrse S,v
enc s. r-'''''
= Section Al COMMITTEE Of Direction, nro.
vides for commttse of three persons ~ r ia
the assignee by their advice and direction If
the creditor choose to appoint such com
mittee st the first meeting; or IL the indso
afterwards, on petition of tho eredItsr,' MA,
II expsdient. '''u'
Section AZ little vested in Assgnees). Tho
decree vests tho prapertv in tha s,.;la - ~