The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1884-04-25
THE SENATE BANKRUPTCY BILL.
a Synopsis of Its More Important Provis-
fons-The Educational Fund.
HE BANKRUPTCY Bill.

THE BANKRUPTCY BILL
WASHINGTON, April 22.-The Bankrupt-
cy bill as passed by the Senate constitutes
the several District Courts of the United
States and Territories and the Supreme
Courts Of the District OF Columbia Courts
in Bankruptcy, with jurisdiction on all
questions of the claims, assets, exemptions,
compositions and discharge. For the pur-
poses Of bankruptcy the courts 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 application 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 Court shall not be reviewed by the
Supreme Court of the United States except
upon certificate of disagreement between two
Circuit Judges. The Circuit Court shall APP
point within each judicial district such num-
Der of commissioners in bankruptcy as
may be necessary, not exceeding in
any State the number of members of
Congress to which the State is entitled, each
commissioner to give bond in the sum of
$4,000 for the faithful performance of his
duties. He is given all the powers of
Master in Chancery, and may represent and
act for the Judge in holding meetings and
conducting the business specially committed
to him. The Circuit Court shall also appoint
Supervisor In Bankruptcy for each Judicial
Circuit, who shall pe -5onally examine into
q i0i cf rot nf oil hof0 lyrT11 ff7xy
proceedings in his circuit, call the attention
of the commissioners, 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 the Office and BUSH
ness of every commissioner and clerk in
his circuit as often as once every
six months, and make report to
the Circuit Court. The supervisors
compensation is fixed at $4,000 year.
The commissioners compensation is fixed
at 81, 900. The court may, however, decree
him further allowance, not to exceed ten
dollars for each case instituted before him
during the year, but not more than $1,000
in any one year. The supervisors and COM
mlssi0ners may be allowed reasonable
sum for disbursements, items to be verified
by oath.
Every party petitioning for bankruptcy,
whether debtor or creditor, shall pay to 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 one per cent. on amount of such COM
position, these fees all to be paid by the
clerk into the treasury CT the United States.
Any person owing debts exceeeing $500,
and being unable ITO pay them, may, by Pc
ton, apply to be adjudicated a bankrupt,
and the filing of such petition shall be
deemed an act of bankruptcy. Any person
owing debts exceeding 1000 who leaves
his State to avoid his creditors, or, conceals
himself to avoid arrest on service of legal pro-
cess, or makes fraudulent transfer of his
property, or suspends payment of his COM
merclal paper, or opens accounts for thirty
years after the same are due and payable,
or who makes fraudulent preference, shall
be deemed to have committed an act of
bankruptcy and may be adjudged a bank
rupt on petition of three or more creditors
whose bills would amount in all to five hum
dred dollars. The bill excerpts and exempts
in favor of the bankrupt necessary and
proper wearing apparel for himself
and family, and such other property
as may be exempted from attachment by
the laws of the United States or State in
which bankruptcy proceedings are instE-
tuted, and the court may, from the assets,
allow the bankrupt sum not to exceed
$500 for support pending the proceedings,
and if his circumstances require it reason
able wages for any services rendered his es-
tate at the request of his trustee, and usual
fees when attending as witness.
THE EDUCATIONAL BILL.
The SIT, 100000 which is appropriated by
the Blair Educational bill to be apportioned
among the several States on the basis Of
illiteracy, will be divided as follows-in case
the bill passes the House: