The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-24
BILL.
To Establish u Uniform system Of Bank
ruptcy Throughout the United states. In
stroduced by Mr.. Ingalls,.

America III conbless asSeiho'eu' NAV ""'"
eyer any person, without fraud, shall have
haoo,,a inv,,lvad In dehts and liabilities he
oe'V",, - -, a,,,, .,,,o,,,,,
yohu MS iieai's VI p"y n'v"'' anu "''V,'
ing TO five hundred dollars OF upwards,
he NAV apply by petition In equity,
.a,,,n,, c,ru, his irsolvencv and
s.''i's w" '
the cahse thereoi, wlth scheauie Oh MS
liabilities and assets, duly verified, to the
dis,,ict co,,rt of theIr,,ited s,a,es for tbo dis
~, ;,.n hiol,he nav reside an Which irr;s-
dic,ion'i IL hershv conferred Ia snrrendSr bis
estate for The henotit az nus creditors cycent
80 ,nuch ms shall be exemnt from execuiion
s,nder and hv the laws III tho state where
he resides and thercunon If good
cn,,se anneor The conrt Shall
ndindre he petitioner 10 be bank
run, snnoint n receiver of suob estate
and canse reasonable notice. by service
mail nnblication or otherwise. 10 In given
~ all nersons interested and shall proceed
10 hear ana disnose of the cause unon lis
n,er;ts no the headings and nroois may ro.
nnirc and 10 marshal and Distribute said
estate among Tho creditors of the petitioner
accordinr 10 the rules and practice of
CAVITY And II It shall appcar that such
dehis and liabilities were incurred
without fraud and that the
inability of HE debtor to make payment
has arisen from accident and misfortune
ana witho,, CrauJ thc conrt shall Grant
him n discharge a bankrupt from all
such debts md liabilities. This act shall
also anplv Ia oorporations.
See That Whenever any person resid-
ing and owing debts as aforesaid. after the
MASSAGE of this act. departs from tbs state.
district or territory of which he Il nm inhab'
tam. with an intent To- defraud his credi.
tors or. being absent. remains so, with like
infant or conccals himselfto avoid arrest
ar the service of legal process issued or
ieored or makes n frnuduIont transfer az
his property. or conceals or removes the
same 10 avoid nrocess or with intent tn
deIrsuI His creditors nrocures or suffers
;udgment against him or gives a warrant
10 confess Judgment or indrment note with
like intent or who having bean arrested in
nnv civil action fails or neplects 10 rive hail
or IN some other mode 10 nro.
m,re his DISCHARGE for twenty dnys or
fails To dissolve nm attachment iaid mon bis
property in civil action for a like period
or fails for sixty DAYS to satisfy final iudr'
mcnt or decree rendered against him for
the payment of money, unless n supcr
scdeas or STAY of execution has boen effected
has suspended and not resumed payment
Of his commercial paper, omen accounts
made. passed, or contracted In the course
of his business, for a period of thirty
DAYS after the same Were PAYABLE. ar
WHO. beinp nsolvent. makes n Indifference
To any creditor. or makes an assignment
for the benefit of existing creditors with or
without preference, any creditor or credit.
ors may iile such n petition In behalf of nil
nersons interested. and thercupon tbe likc
proceedings shall be had as in The case of n
petition by the debtor.
Insolvency in this act shall be deemed to
exist only when The debtors Ilobiliiins NV W
coed in amount the value of his prouerty
liable to execution, and the available debts
due him.
Sec. 3. That the court shall bave
mower To- grant extensions of time for nav
inent and to reduce the amount of indebt.
cdness pro rata. for the purposo of nIlowin,
thc debtor TO proceed with business i'm
shall seen, best TO do. And nv agreement
between the debtor and the mnioritv in
amount and number OF his creditors may In
carried into effect if approved by The coI,rt
Sec. 4, That the court may nj
any time during the nroreedincs
order that nil or any other NO
cecdipps he STAYED or dismissed and nav
rcouire ALI or any claims 10 be presented ~
4 for determination, or NAV allow INV
other proceeding TO be prosecuted IN 6n,I
Judgment, and such Judgment to.hc tIIcd
IN The bankruptcy. Any claim not duo
NAV be matured by rebate under nm mr..
der of the court. No creditor shall ho
prciudiced BY having taken secnriiv in
GOOD faith, and without notice of imncnI'
Inv bankruptcy but securities otherwisc
taken may be set aside
Sec. 8. That any intcrlooutory matter In
the course Of the proceedings may be heard
before any standing or special master in
Shancery, and under standing or a speciaI
order of reference, and at any place Jcsir.
mated In such order; but ali the decisions If
such masters shall be subject To Tho sum.
mary and Informal supervision and control |
of The court. The circuit Judge and |
The associate Justice of tho surname
assigned to the circuit shall |
have and exercise a like sinner.
vision and control over all the proceedin,ls of |
The district court in bankruptcy: md nj thn |
request of any pcrson arrrieycd hv nnv a.
cis,on Of the district court ar thc fnJno
thereof he shall forthwith certify Tho nnrs
lions involved In such dckssion To tbe rir.
cuit judcc for summary review md ,oJa
Termination. and any decision of Tho c,rcni, |
nudge may hc In Ike manner rcyirwcJ Nh, |
snid iustice of ihe supreme court, NV IL |
NAVY ogg,eivc may sock rolicThy o',,oni I
~ h, o,ber rascs y "PP''''
Soc n Tint any convcynnc, tronscoe
or n,vmont made .nd reccivcd !,
bankruplcy may be SET aside If found IN be
'"''s,''t'.f .''', - - s,'''N ~ ''s''N w w |