Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1884-05-16
Tur SENATE BANKRUPTCY BILL.
A Synopsis of It's More 1mportans froSl'-
ton.-rhe Educational Fund.
THE BANKRUPTCY BILL.

fops-The Educational Euh0s
THE BANKRUPTCY BILL.
wAsu1sGroN, April 22.-The Bankrupt
~ hin AZ PASSED by the Senate constitutes
tho 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. Fol the pur-
moses of bankruptcy the courts shah be a.
wavs men. as we'll In vacation as in term
time. and when the District Judge, fromany
cause. is unable to act, the Circuit Judge
may do 30. 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
sunerintendence and jurisdiction of all bank
rnntcy proceedings, and the decision OF the
Gircuit Court shall not be reviewed by the
Supreme Court of the United States except
mon certificate of disagreement between two
Circuit Judges. The Circuit Court shall APP
noint within each judicial district such num-
her of commissioners in bankruptcy as
NAV 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
SIS, 900 for the faithful performance OF his
duties. He is given all the powers of a
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
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 the commissioners, clerks II 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 a report to
the Circuit Court. The supervisors
compensation is fixed at $4,000 a year.
The commissioners compensation is fixed
at So, 900. The court may, however, decree
him a further allowance, not to exceed ten
dollars for each case instituted before him
during the year, but not more than $1,000
mlssioners may be allowed a reasonable
sum for disbursements, items to be verified
by oath.
Every party p%etitioning for bankruptcy,
whether debtor or creditor, shall pay to the
clerk of the court fifty dollars, and every
trustee shall pay one per cent. o. the gross
amount realized from the assets, and every
debtor making composition shall pay one.
half of one per cent. on amount of suchcom-
| position, these fees all to be paid by the
clerk into the treasury CT the United States.
Any person owing debts exceeding $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 $1,000 who leaves
his State to avoid his creditors, or: c%onceals
himself to avoid arrest on service of legal pro-
property, or suspends payment of his com
mercial 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 tho United States or State in
which bankruptcy proceedings are insti.
tuted, and the court may, from the assets,
allow the bankrupt a 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 a witness.
EDUCATIONAL BILL.
The SIT, 600, 600 which is appropriated by
| fhn Rlair Educational hill tn ha annort;ouod
among the several States OH the basis OF
illiteracy, will be divided as follows-in case
the bill passes the House: