The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-04-22
BANKRUPTCY MATTERS.
The Bill ms Passed by the senate Yester-
day.

WASHINGTON, April 21.-The bankruptcy
bill was passed by the Senate to-day. 1t con-
stitutes the several district courts of the
United States and of the Territories, and the
Supreme Court of the District of Columbia,
courts of bankruptcy, with jurisdiction of all
questions of claims, assets exemptions, COM
position and discharge, and for the purpose of
bankruptcy the courts shall be always open, as
we'll in vacation as in term time, and when a
district judge from any cause is unable to act,
a circuit iadge may do SO. On application of
any party interested district judge may GER
tify any question in law involved to the United
States Circuit Court, which is given general
superintendence and jurisdiction of all bank
ruptcy proceedings, and a decision of Circuit
Court shall not be reviewed by the Supreme
Court of the United States except upon GER
tificate of disagreement between circuit JUS
tees.
Circuit Courts shall appoint within each
judicial district such number of commissioners
in bankruptcy as may be necessary, not ex-
ceeding in any State the number of members
of Congress to which the State is entitled,
each commissioner to give bond in the sum
of So, 900 for the faithful performance of his
duties. He is given all the powers of a master
in chancery, and may represent and act for
a Judge ia holding meetings and conducting
business specially committed to him.
The Circuit Court shall also appoint
bupcEflSOE III UduhEupbty 1OA CdCu
Judicial circuit who shall personally
examine into the administration OF
all bankruptcy proceedings in his circuit, call
the attention of the commissioner, clerks and
trustees to matters which would facilitate
speedy and economical settlements and move
the court for action against delinquent trus-
tees. He shall visit add inspect the Office and
business of every commissioner and clerk in
his circuit as often as once in every six
months and make a report to the Circuit
Gnnrt Tho uiunr'a 0nu1r tinO 10 ffYQd
at IS, 600 year; commissioners compensation
is fixed at $1,000 the court may, however,
decree him further allowance not to exceed
800 for each case instituted before him during
the year but not more than 81 600 10 any one
year. The supervisor and commissioner may
be allowed q reasonable sum for disbursements,
such items to be verified by oath.
Every party petitioning for bankruptcy
whether debtor or creditor shall pay to the
clerk of the court 500, and every trustee shall
pay one per cent OF the gross amount realized
from the assets, and every debtor making COM
position shall pay one half of one per cent on
the amount of such composition. These fees
are all to be paid by the clerk into the treasury
of the United States.
Any person owing debts exceeding $500, and
unable TO pay may by petition apply to be ad-
Indicated bankrupt and the filing OF such
petitions shall be deemed an act of bankruptcy.
Any person owing debts exceeding $1,000 who
leaves the state to avoid his creditors or con-
ceals himself to avoid arrest, service of legal
process or makes fraudulent transfer of his
property, or suspends payment of commercial
paper or open accounts for 80 days after same
are due and payable, or who makes fraudulent
preference shall be deemed to have committed
an act of bankruptcy and may be adjudged
bankrupt on petition of three or more of the
creditors whose bills would amount in all to
$500. The bill excerpts and exempts in favor
of the bankrupt the necessary and proper
wearing apparel of himself and family and
such other property as may be exempted from
attachment by the laws of the Uoited states
or of the State in which bankruptcy proceed
Jugs are instituted, and courts from the assets
may allow bankrupt sum not to exceed
$500 for support pending proceedings, and
also IL his circumstances require it reasonable
wages for any services rendered his estate at
the request of his trustee and the usual fees
when attending as witness.