The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1881-01-13

A sketch OF ss ACT 20 Establish 70
Uniform system Of Bankruptcy
Throughout the UnitedStates.

former act has boon followed as far as prac-
ticsble, In order that use might DO made of
the numerous and important decisions con-
strung that language under the former law,
ard that the changes made by the present
law may more readily be understood, the fol-
lowing analysis of 1t Is given:
By section some definitions are made 10
save repetitions and redundancies in the &C
itself. And especially it will be motto ed tina
the word "court" includes the register; SO
wherever the word ".court" is used in tho act,
the register can perform the act in ques'
ton SIS well as the judge Whore
Lit is deemed important that the
Judge should act personally, the wsrd
Judge" is used.
The sections from to Courts of Bank
ruptcy) give jurisdictions and powers to the
courts substantially IS they were held TO be
under the former statute, but they are ex-
planned with good deal more care, to pre-
vent litigation in ascertaining the various
powers of the different courts.
Section (Plenary Suits. The state courts
are to have full jurisdiction of all actions be-
tween party and PARTY under the bankruptcy
law, as distinguished from mere proceedings
in bankruptcy.
Section II and IL. The circuit courts have
supervision over the district courts, as under
the former law, in all proceedings in bank
ruptcy strictly so called, and appel
in equity, if more than five hundred
l1lI,rs - ,nlua ts IL, dio,pta Vho .,,n,a,na
court has appellate power in all actions in
courts Of the United States. if the amount is
larga enough, as in other civil cases, but not
in proceedings in the bankruptcy ITSELF This
law is like the act Of 1867 ard the act of l84l;
in botk of which it ws5 thought desirable
that tho proceedings in the bankruptcy itself
should be summary, and should not be de
layed by anv appeal to the supreme court.
Sections ID to 10 (Reglsters). The regis
ters are made salaried officers. 1t is con-
sidered very important that registers should
be paid by salary rather than by fees.
The powers of registers are very much in
creased over those given by the former act.
They sre to hold meetings and hearings in
the various psrts of their districts in such
manner az to afford the greatest practicable
facility 10 the suitors. 1t is thought that one
serious objection to the working Of tho act
was tho distance which parties and their
lawyers were obliged to 20 to find court Of
bankruptcy, and the intention is to remedy
this as much as possible.
Sections 16 TO 10 (Supsrvisors). A salaried
officer Is appointed to keep personal watch
over The administration of all the proceedings
in each circuit, in order TO see that hey are
conducted speedily, lawfully, econmically,
and uniformly, and TO make quarterly re-
ports of the state o. tho business in each dis
,rict to the judge, who is TO send copies 20
the attorney general. 1t il hoped th,t
through this latter officer, congress viii
kept Informed Of any defects which are iouri
TO oxist, or improvements that may be sug-
gested in the law.
Section 81 ENTRY and Clerks Focs). The
clerks fees are reduced to as low poin. rs
IL thought to be practicable consistently with
tbs general law which requires every clerks
Office to DO selfeupperiing; and they are to
issus the notices which were formerly
issued by the marshal, and the latter
oalcsr will not be employed ualcss the court
issues wsrrant for some special cause.
Section rs (Rulos). The supreme court are
to have power to mako aud prescribe rules
Of practice and forms and modes OF procoed-
ing as fslly as they may now do in equity.
This obyiates the necessity of specifying in
the law many matters 81 uetsil whicl should
properly be left to tribunal moro familiar
with the details than congress can possibly
be. =.
By Section 27 (Wsrrants) the power is
given 10 the courts to put the marshal 10
possession of tha properly, when necessary,
in voluntary and Involuntary casea. There
was no express power given in the former
Ia 10. dn In vol Ia nd ka
power 10 arrost Bankrupt, who IL about 70
leave the district, and hold him to bail, is
amended in such way rs 10 reqairc the
bsnkrup. 20 abide all the orders Of the
court, and not merely the dseirion ON tho
question Of his bankruptcy Under the for
mer law, he was simply to present himself
fof tie tsia', aud Eo could Immediately after.
ward depart
Section 30 (aoaripgs). This section has
Been prepared in tue hope that written sx-
eminafiors which wore FORMERLY VERY wactc.
fal of time and money, may be abridged
They are 10 be oral. The register is 70 have
power 10 order the ev dence 70 be taken down
in full, or may report the substances or effect
oft.
Section "a involuntary Bankruptcy. This
acts Ct BANKRUPTCY are substantially like
those Of the former law, sddag a few, such
IS failure 10 dissolve en- attachment, whick
is q very Important matter in the Now Eng |
land states, where all actions may begun By |
attachment; fnlure,tc pay open accounts is |
added 10 the former act which applied only TO |
paper. Both Of them, however,
are confined 70 "traders"
Attachments and transfers made in secret |
may DO ayailed OF within three months after
they have become public by record, and so
ioris. The darger which was spprehended
Of cppre,sion or persecution II a single
creditor rad pswer 70 put debtor into
j. met By requiring that at losst
three shsuld Join ia the petition whez there
are more thAa twelve creditors IN al
Sections 80 aad SO First Meeting; Cboics
and Qukiidcstion Of Assigneef). The choice
Of an assignee is by the credit-rs, and every
assignee, without exception, ia 70 give bond
for ths faithful performances Of his duties,
and small creditors who are 10 BE- paid Ia
full, shall net vote for asiigree on tbs priv
legged part Of their debts; and, as u1der The
former sci, preferred creditors are NOT 10 vote
unless they shall 6rst surrender their prefer
encsa
Section Al (CoEmittco Of Dirsciion) pro
vidss for a committee Of three psrEons is aid
the assignee b. their sdvice and direction, il
the creditor choose 70 sppoint such q con-
mifiee al the FIRST meeting; or II the Judge L
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