The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1884-05-03


work, | bid those upon whom this au-
gust mission may fall, God-speed.
Provisions OF the Bankruptcy
, Bill.
WASHINGTON, April 2l.-The bank.
rnptcy bill, as passed by the Senate,
constitutes the several District Courts
of the United States and Territories
and the Supreme Court of the District
OF Columbia, courts of bankruptcy,
with Jurisdiction of all questions of
claims, assets, exemptions, composition
and discharge. For the purpose of
bankruptcy courts they shall be al
ways open, as well in vacation as in
term time, and when the District
Judge, from any cause, is unable to
act the Circuit Judge may do so. On
the application of any party interested
the District Judge may certify any
question of law involved to the Uni
ted States Circuit Court, which is
given general superintendent and
Jurisdiction of all bankruptcy pro-
ceedings, and the decision of the Cir
cult Court shall not be reviewed by
the Supreme Court of the United
States, except on the certificate of
disagreement between the Circuit
Judges.
The Circuit Court shall appoint
within each judicial District such
number of commissioners in bank
ruptcy as may be necessary, not ex-
ceedlng in any State the number of
members Of Congress which the State
Is entitled to; each commissioner to
give a bond in the sum of $4,000 for
the faithful performance of his duties,
lie is given all the powers of a master
in chancery, and may represent and
act for the judge in holding meetings
and conducting the business special v
committed to him.
The Circuit Court shall also appoint
a supervisor in bankruptcy for each
judicial circuit, who shall personally
examine into the administration of all
bankruptcy proceedings in his circuit,
call the attention of the commission.
ers, clerks and trustees to matters
which would facilitate speedy and
economical settlements, and move the
court for action against delinquent
trustees. He shall visit and inspect
'he office and business of every COM
missioner and clerk in his circuit as
'tten as once every six months and
make report to the Circuit Court.
The supervisors compensation is
lxed at $4,000 year; the commission
RS compensation is fixed at $4,000.
he court may, however, decree him a
urther allowance not to exceed $40
or each case instituted before him
urlng the year, but not more than
/ 900 in any one year. The super
lsors and commissioners may be al
owed a reasonable sum for disburse-
lents, the items to be verified by
ath' Every party petitioning for
whether debtor or cred
1r, shall pay to the clerk of the
ourt $50, and every trustee shall pay
per cent of the gross numbers real
ed from the assets, and every debtor
Iaking composition shall pay one
alt OF per cent on the amount of
leh composition. These fees are all
be paid by the clerk into the Treas
" of the United States.
ANY person owing debts exceeding
800, and made to pay, may by peti,
on apply to be adjudicated a bank
pt, and the filing of such petition
all be deemed an act of bankruptcy:
~ person owing debts exceeding
1000, who leaves his State to avoid
$ creditors, or conceals himself to
old arrest or service of legal process,
makes a fraudulent transfer of his
operty, or suspends payment OF his
numerical paper or open accounts
: 10 days after the same are due and
'yable, or who makes fraudulent
eferences, shall be deemed to have
mmltted an act of bankruptcy, and
ny be adjndged a bankrupt on the
titlon of three or more of his credi-
rs whose bills would amount in all
$500.
Inc bill excepts and exempts in
'or of the bankrupt the necessary
d proper wearing apparel of himself
d fam ily, and such other property
may be exempted from attachment
the laws of the United States or
ate in which the bankruptcy pro.
adings are instituted, and the court
", from the assets, allow the bank
pit sam not to exceed $500 for his
oPort pending the proceedings, if
circumstances require it, and rea-
able wages for any services rem,
ed his estate at the request of his
stees, and the usual fees when at.
ding as a witness.