Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-01-04
DEBT COLLECTIONS.
PROPOSED CHANGE IN THE LAW IN
REGARD TO ASSIGNMENTS.
What Richmond, Lynchburg. Peters
burg. Norfolk. stauntons and Other
Communities Ask.

Accompanying the memorial in relation
TO the collection Of debts presented to the
Senate on Thursday by Mr.. Lovenstein
and now before the Committee on Gene
raj laws was the following paper. which
states the origin Of this movement and
gives an outline OF what legislation is
asked:
A meeting Of delegates from tho various
commercial bodies of the State was held
in the rooms OF the Richmond Chamber OF
Commerce, and under Its auspices, on the
18th of September, 1889. for the purpose
Of considering "the importance of pass
ing such laws as will facilitate the colicc-
tion of debts.n
After full discussion Of the subject q
subcommittee of three. consisting of
Messrs. T. A. Williams, of Norfolk, J. H.
Hume, of Portsmouth. and j. ii. Whitty. of
Richmond. was appointed to digest bills
in accordance with the views of the dele
gates. to be presented to the Legislature
and TO an adjourned meeting to be held on
December 10, 1889.
The meeting was held pursuant to ad-
journment, and herewith you have q synop-
sis of the proposed legislation as adopted
by the delegates then present. being prac-
ticallY the same as recommended by the
subcommittee.
Hon. George r. Christian, of the Rich
mond Chamber of Commerce. was charged
with the very important duty OF perfecting
the bills.
The meeting then appointed the under
signed a committee with power to add to
their number (three of the undersigned TO
be a quorum). to act in all matters relative
to securing the proposed legislation, said
an,nvo,ttna kaip1 oborooI acnacso lie tuit In
the duty of soliciting the cooperation of
all organizations and persons throughout
the State favorable to the object in view.
You are therefore earnestly requested to
use your influence with your representa-
tives in both branches of the Legislature
to secure the passage of the bills when
they come up for action in that body.
We shall be glad to hear from you.
Very respectfully.
HENRY G. HARDY,
chairman, Petersburg, Va,
JOHN b. CARY, Richmond. Va,
JoHN w. CRADDoCK. Lynchburg, Va,
Il. A. WILLIAMS, Norfolk, Va.
II. w. BURKE, Staunton. Va,
Committee.
SYNOPSIS or PROPOSED AMENDMENTS TO THE
LAWS IN REGARD TO ASSIGNMENTS AND FOR
THE COLLECTION OF DEBTS.
First. That AL assignments by insolvents
shall inure ratably 10 all Jona,fde creditors
of the grantor existing at the date of the
assignment. Proviso: u) lnsolvent may
secure loan of money or sale of property
made to him at the date of assignment
in good faith. CD He may prefer debts due
to employees for services rendered within
three months of date of assignment.
Second. If trustee selected by grantor ~
not acceptable to majority in number and
amount of the creditors secured they may
apply to the court of the county or cor
poration in which the deed is recorded or
the Judge III vacation and have trustee re-
moved and the one recommended by them
appointed.
Third. Trustee shall. within ten days
from date of recOrdation of deed, send by
mail 20 each creditor secured in deed on
inventory of the assets conveyed and IA list
OF the creditors and the amounts of their
several debts.
Fourth. Give county courts concurrent
jurisdiction with circuit courts OF all COM
mon law suits for the recovery Of money
or property.
Fifth. Amend section 1886 of the Code,
which provides that in actions of assump-
sit, where plaintiff files with declaration,
affidavit of the correctness of his claim,
&C., that no plea in bar shall be fled unless
accompanied by affidavit of defendant de-
nying the correctness OF plaintiffs claim.
&c, so as to make said section applicable
to any action of debt or assumpsit on any
note. bond, or other contract, express or
implied for the payment of money except
in cases matured by publication).