Savannah morning news. [volume] (Savannah) 1868-1887, 1884-04-22
THE BANKRUPTCY BILL.
Provisions of the Measure which was
Passed by the Senate.


WASHINGTON, April 21.-The bank
ruptcy bill, as passed by the Senate to-
day, constitutes the several District
Courts of the United States and of the
Territories and the Supreme Court of the
District of Columbia courts of bankrupt
cy, with jurisdiction of all questions of
claims, assets, exemptions, composition
and discharge for the purposes of bank
ruptcy. The courts shall be always open,
as well in vacation as in term time, and
when a District Judge, from any cause, is
unable to act, the Circuit Judge may do
so. On application of any party inter-
ested, District Judge may certify any
question of law involved to the United
States Circuit Court, which is given
general superintendent and jurisdiction
of all bankruptcy 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 appoint within
each judicial district such a number 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 $1,000 for a
faithful performance Of his duties. He is
given all the powers of master in chan
Gerry, and may represent and act for a
Judge in holding meetings and conducting
business specially 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 commissioners, clerks
and trustees to matters which would fa-
cilitate speedy and economical settle
ments, and move the court for action
against delinquent trustees. He shall
visit and inspect the office and business
of every commissioner and clerk in his
circuit as often as once every six months
and make a report to the Circuit Court.
A supervisors compensation is fixed at
$4,000 per year. A commissioners COM
pensation is fixed at $1,000. The court
may, however, decree him further allow
ance, not to exceed $40 for each case in
stituted before him during the year,
but not more than 81 900 III any one year.
Supervisors and commissioners may be
allowed a reasonable sum for disburse-
ments, the items to be verified by oath.
Every party petitioning for bankruptcy,
whether a debtor or creditor, shall pav to
the Clerk of the court $50, and every trus-
tee shall pay / per cent. of the gross
amount realized from the assets, and
every debtor making a composition shall
pay - of l 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 5000 aud unable to
pay may by petition apply to
be adjudicated a bankrupt, and
the filling of such a petition shall be
deemed an act Of bankruptcy. Any per-
son owing debts exceeding $1,000, who
leaves his State to avoid his creditors, or
cOnceals himself to avoid arrest or service
Of legal process, or makes a fraudulent
transfer 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 adjudged bankrupt on the petition of
three or more of his creditors whose bills
would amount i'll all to $1,000.
The bill eXcepts and exempts in
favor of bankrupt necessary
and proper wearing 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 bankruptcy proceedings are in
stituted, and the court may from the
assets allow a bankrupt, the sum not to
exceed $500, for his support pending pro-
ceedings, if his circumstances require it,
reasonable wages for any services
rendered his estate at the request of his
trustee, and the usual fees when attend
ing as a witness