The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1884-04-25
WARRINGTON NEWS.
The Bankruptcy Bill

WASHINGTON, April 2l.-The bankruptcy
bill, as passed by the senate, constitutes the
several district courts of the United States
and the territories, and the supreme court
of the district of Columbia courts of bank
ruptcy, with jurisdiction in all questions of
claims, assets and exemptions. The courts
shall be always open as well in vacation as
in tern time, and when a; district judge
frem any cause is unable to act, circuit
Judge may do SO, ON application Of any
party interested; but the judge may certify
any question of law involved in the United
States circuit court, which is given general
superintendence 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 certificates of disagreement
between the two circuit judges.
The circuit court shall appoint within
each Judicial district suc4 number of COM
missioners in bankruptcy as may be ueces-
sary, not exceeding in any state the number
of members of congress to which such state
is entitled, each commissioner to give bond
in the SUM of S. 600 for the faithful per
formance of his duties. He is given all the
powers of a master in chancery, 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 pro-
ceedings in his circuit, call 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 busi
ness Of every commissioner and clerk i'll his
circuit as often as once every six months,
and make q report to the circuit court. The
supervisors compensation is fixed at $4,000
a year, and the. commissioner compensation
is fixed at 5000. The court may, however,
decree him q further allowance not to ex-
ceed el0 for each case instituted before him
during the year, but not more than $1,000 in
any ONE year. The supervisors and com
missionsfs may be allowed reasonable sum
for disbursements, the items to be verified
by oath.
Every party petitioning fer bankruptcy,
whether debtor or creditor, shall pay to the
clerk Of the court $50, and every trustee
shall pay per cent, of the gross ameunJ
realized from the assets, and, every debtor
making conposition SHAH pay one-haf of
spe1cent. on the Mount of such com
,osition; their fees all TO be paid by the
clerk into the treasury Of the United States.
Any perssn owing debts exceeding $780,
and unable to pay, may, by petition, apply
to be adjudged bankrupt, and in the filing
of such petition shall be deemed an act of
bankruptcy.
Any person owing debts exceeding $1,000,
who leaves his state to avoid his credi tors,
and conceals himself to avoid arrest oE the
service of legal process or makes fraudulent
transfer of ais property, or suspends pay
ment of his commercial paper, or opens ac-
counts for thirty years after the same are
due and payable, or who makes fraudulent
preference, shall be deemed to have com
mitted IN act of bankruptcy, and may be
-adjudged bankrupt, on the petition of three
or more of his creditors, whose bills would
amount in all to $500.
The bill e1cepts and exempts in favor OF
bankrupts the necessary and proper wear
ing apparel Of himself and family, and su III
attachment by the laws of the United Statx
or the state in which bankruptcy proceed
iings are instituted, and the court may, froro
the assets, allow a bankrupt a sum not to
exceed $500 for his support pending pro-
-ceedings, if his circumstances require ID,
and reasonable wages for any services to his
estate, at the request of his trustees, and
the usual fees when attending as q witness.
WASHINGTON, April 2O.-As surmised.
Morri SON succeeded in getting his 20 per
cent. horizontal reduction tariff bill before
the house Tuesday, but the majority was SO
small as 10 leave little hope that the bill
can be passed. Angered somewhat at the
course of events, Morrison for a few days
manifested q disposition to punish members
who voted against considering the bill, by
refusing to allow the house to proceed tc
other business, but he soon saw the folly Of
this, and ON Thursday consented to sending
tariff discussion over to Tuesday next A
different coarse, instead of securing hear
ing for the tariff might have hasteaed its
fate. Morrison has received many con-
gratulations On the moderate course he in
tends to pursue. A motion to strike the
enacting clause from the bill is not in erde,
until the general debate closes, and that
will probably last until the end of May, un.
less some of the long MINDED orators can be
suppressed. Eighty-nine members are al
ready down for reeoonitioD each opa Of