St. Paul daily globe., 1884-04-22
THE BANKRUPTCY BILL.
Details of the Bill Passed by the SEN
ate Yesterday.
Objectionable in the Way of Costs and
Likely to be Slow in Operation.

WASHINGTON, April 21.-The bankruptcy
bill, as passed by the senate constitutes the
several district courts of the United States
territories, and the supreme court OF the
District of Columbia courts in bankruptcy,
with jurisdiction on ali questions of claiming
assets, Exceptions, composition and dis
charge. For the purposes OF bankruptcy,
the courts shall be always 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 ap-
plication Of any party interested the district
judge may certify TO any question of law in
court, which is given general
superintendency 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 the
second court 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 commits
sioner shall give a bond in the
sum of $1,000 for the faithful perform
ance of his duties. He shall have
the powers of q master in chancery, and may
represent and act for the judge in holding
meetings and conducting business specially
committed to him. The circuit shall appoint
a supervisor in bankruptcy for each Judicial
circuit, who will personally examine into
the administration of all bankruptcy pro-
ceedings 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 delin
quent trustees. He shall visit
and inspect the Office and business of every
commissioner and clerk in his circuit, as Of
ten as once every two months, and make
report to the circuit court. The supervisors
compensation is fixed at $4,000; the court
may, however, decree him further allow
ance not to exceed $50 for each case before
him during the year, but not more than ST.,
600 in any one year. The supervisors and
commissioners may be allowed a reasonable
| sum for disbursements, the items to be veri-
fed by oath. Every party petitioning for bank
! puptcy, whether debtor or creditor, shall pay
to the clerk of the court $50, and every trus-
tee shall pay l per cent. of the gross amount
! realized from the assets and every debtor
making composition shall pay one-haf of
one per cent. ON the amount of such compo-
stiOn. 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
adjudicated bankrupt, and the filing OF
such petition shall he deemed an act Of
bankruptcy. Any person owing debts ex-
ceeding 81, 200, who leaves his state TO
avoid his creditors, or conceals himself to
makes a fraudulent transfer of his property, or
suspends payment of his commercial paper
or pen 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 adiudged bankrupt on the petition OF
three or more of his creditors, whose bills
aggregate $500. The bill ex-
cepts 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 United
States, or the state in which bankruptcy pro-
ceedings are instituted, and the court may
from the assets allow the bankrupt sum
not to exceed $500 for his support, pending
proceedings, if his circum stances require it,
reasonable wages for any services rendered
his estate at the request of his trustee, and
his usual fees when attending as witness