Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-10-04
CHAMBER OF COMMERCE.
Delegates to the st. Louis Convention-Re-
port ON the Proposed Bankrupt Law
Flax Fibre-Aid for the Michigan Suffer-
ers, Etc.


Flax Fibre-Aid for the Michiga Suffer
ers, Etc.
At the meeting of the chamber of commerce
yesterday President Sanborn announced the
| delegates to the river improvement conven-
| ton to be held at st. Louis this month, with
individual power of substitution, as follows:
VIM. Crooks, Eugene Underwood, j. w. Nc
Clung, R. Blakely, Edmund Rice, D. W.
| Ingersoll, ). Fl. Reaney and James Smith, Jr.
Mr.. D. r. Noyes, for the mercantile COM
mitfee, presented a supplementary report on
| the proposed national bankrupt law which
| was adopted as follows: ,a
Your committee, to whom was referred the request
Of HUI. John J. ingalls,. chairman committee
judiciary United States Senate, for the views of this
chamber, regarding general bankrupt law; having
Senator Ingalls,; would now further and more fully
report as follows:
In our opinion, the commercial interests of the
country demand the early enactment of uniform
and just bankrupt law. One which shall discourage
insolvency. (this is very impertant,) and promptly
secure and equitaby regulate, insovent settlement
law which shall not merely distribute the estate
promptly and economically, but which shall dis
crimnate between the honest and dishonest debtors
relieving the one and Furnishing the other.
Our reply to your inquiries on the five points were
as follows; r@'+
First-That fixed salaries not fees, should be the
rule.
second-That the power of registers should not
be Increased.
Third That the amount of indebtedness requi-
site to filing petition, should not be largely inceras
ed "over $780, 'zas
Fourth-That corporation settlements should be
retained.
Fifth-That the discretionary power of the court
(if as heretofore) should not be enlarged.
The SUPPLIES requirea explanation, as without 1t
they might mislead, for Instance in regard to fifth
enquiry. sF
IF We can have simple law, salarIed officials, and
Judicial examinations by responsible and compe-
tent court our reply to this question would be, yes
enlarge the discretionary power Of the court SO
greatly that it alone and not the creditors should
have the power to discharge.
Our past bankruptcy law failed to discourage in
eolvency. At the East it is charged that the small
of the amount (SSOO) required to file petition,
was the cause of this failure, encouraging bank
rupcy by thus increasing the facilities for closing
small insolvent estates at the public expense. We
claim rather that was the case with which dishon
est insolvent could secure composition settlement
during bankruptcy, with his creditors they fear
ing that other wise all the estate would be swallowed
up in cost Of the proceedings.
Six hundred to $1,000 in the large cities of the
East and $500 to $500 the frontier, not rela
lively, widely different amounts. The honest $500
debtor is as fully entitled to the relief afforded by
general law as the $1,000 debtors. If the courts
exist the expense to the public need not be largely
increased, 1t is surely an unusual policy which en-
courages an nsOvent to increase his debt In order
cant at the Inebriate asylum who was refused ad
mission unless he would turn out and QUALIFY,
would here be point. ~
We ask for courts of bankruptcy, not registers,
but the register system is again tried, let their
duties be clearly defined and their discretionary
powers be mited, not increased.
Composition settlements should be continued, but
under direction and control Of the court 80 far at
least as the discharge of the bankrupt is concerned
and with the approval of majority of the credit
and three-fourths say in solvency.
If there be crime or fraud in the case, the cred
itors should have no power, under any circum-
Stances to grant release. The line, In bankruptcy
settlements, should be drawn between honesty and
dishonesty rather than between q Is and as per
cent dividend. The court is more likely to consid-
er this than the creditor, anxious for dividend,
and is alone competent to pass upon the punishment
or discharge of the insolvent debtor.
Every bankrupt should be publicly examined In
court as to his course before and during bankruptcy
and according to the result of such examination the
court should have power to suspend qualify dis
fraud is shown it should be the duty of the court
to order prosecution and to commit the bankrupt
for trisl Your committee respectfully ask that If
approved, this report may be promptly forwarded
judiciary United States senate, at Atchnson, Texas
or Washington, D. G.
Respectfully, DANIEL A NoYEs.
d. W. INGERsoLL.
WILLIAM LEE,
WIN. B. DEN,
A fine specimen of fax fibre was exhibited
to the chamber. 1t was received by the secre-
tary from Philadelphia firm of manufactur-
ers, as sample of the work of a machine for
taking outEthe fibre, manufactured by the firm.
As described the flax stalks are fed at one end
of the machine and the separated fibre comes
out at the other end.
General Slbley spoke of the destltution re-
ported to exist among the residents of the dis
tricts of Michigan, which were run over by
forest fires last month, and offered resolu-
tion inviting voluntary subscriptions for re-
lief of the sufferers, and directing the appoint
ment of a committee of five to receive and re-
NIT the contributions. Mr. Lee moved to
amend SO as to provide that the commit
tee wait upon the council and ask an appro-
priation of 5000. Mayor Rice moved to re-
duce the sum to $1,000. The lesser amount
was adopted and the resolution amended ac-
cordingly and passed, with some opposition
expressed based on the theory that the council
has no legal authority to appropriate city mon
ey for such purposes. The chair appointed
Messrs. Sibley, Barney, Mathers, Dawson aud
Driscoll to present the matter, to the council.
Jugde Flandrau made verbal report for
the Garfield memorial committee and the cham
Der then adjourned.
THE COURTS.
United States Circuit Court.
Before Judge Nelson