Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1884-04-22
THE BANKRUPTCY BILL.

IHE BaNAhO III DILL.
The bill to provide universal system OF
bankruptcy throughout the United States
passed the Senate yesterday BY vote Of 81
to Is.
The bill constitutes the several District
Courts Of the United States and OF the Ter
ritories and Supreme Court ofthe District OF
Columbia courts Of bankruptcy, WIN Jurl'-
diction OF all questions of claims, assets eA-
emptions, composition and discharge. For
the purpose of bankruptcy the courts shall
he always open, as well in vacation as III
term time, aud when the districtjudge. frou
any cause, i; unable to act, the circuit judge
may do So On theapplication OF any party
interested the district judge may certify
any question of law involved to the United
States Circuit Court, which is given general
superintendent and jurisdiction of all bank.
ruptcy proceedings, and the decision of the
Circuit Couit shall not be reviewed by the
Supreme Court of the United States, except
upon certificate of disagreement between
the two circuit justices.
The Circuit Court shall appoint within
each judicial district such number OF com
mssioners in bankruptcy As MAJ be neces-
sary, not exceeding in any State the number
Of members of Congress 10 which the State
| is entitled, each commissioner to give bond
| in the sum Of IS 900 for the faithful perform
ance of his duties. He is given all the pow
ers oil Il master III chaucery, and may rep
resent and act for the judge in holding
meetings and conducting business specially
committed TO him. The Circuit Court shall
also appoint Il 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 commissioners, clerks ana
trustees to matters which would facilitate
speedy and economical settlements and
move the court for action against de-
liuuueut trustees. He shall visit and in.
specl The office and business Of every com
missioner and clerk in his circuit as often as
once every six months and make report 10
the Circuit Court. The supervisor compen-
sation is fixed at So 900 year. The commits
,ioners compensation is fixed at &, 900. The
court may, however, decree him further
allowance, not 10 exceed so for each case
| Instituted before him during the year, but
not more than 81 900 in any one year The
supervisor and commissioner may be allow
| ed "a reasonable sum for disbursements, the
items to be verified by oath.
Every party petitioning for bankruptcy
whether debtor or creditor, shall pay 10 the
clerk of the court fifty dollars, and every
trustee shall pay one per cent. of the gross
amount realized from the assets, and every
debtor making composition shall pay one
half Of Que 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
! hla q, ht- natiti0n anDIt
10 be adiudicated bankrupt, and the filing
of such petition shall be deemed an act oil
bankruptcy. ANY person owing debts ex-
ceeding 81 600 who leaves his State to
avoid his creditors, or conceals himself
To avoid arreat or the service of le-
gal process, or makes a fraudulent trans
fer Of his property or suspends pay
ment of his commercial paper or open
accounts for thirty days after the same are
due and payable, or who makes fraudu-
lent preference, shall be deemed TO have
committed an act of bankruptcy, and may
be adiudgcd bankrupt on petition Of three
or more OF his creditors whose bills would
an, QUO. in al to $500
The bill excerpts and eXempts, in favor oil
the bankrupt, the necessary aud proper
wearin. apparel of himself and family, and
such other property as may be exempted
from attachment by the laws Of the United
States or of the State in which the bank
ruptcy proceedings are instituted, and the
courts may from the assets allow tue bank
rnpt Il sum not to exceed $500 for his sup
port pending the proceedings, if his circnm-
stances require it, reasonable wages for any
services rendered his estate at the request
of his trustee, and the usual fees when
attending as witness.