San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1893-03-15
AUSTIN LETTER.
AUST IN, Tex, March IA, 1893

Though the Legislature has taken no
action as yet on Gov. Hogg's message
relative to the Houston and Texas Central
receiverShip and the Federal courts, it is
very evident from the concerted actions
of Gov. Hogg's particular friends in the
Legislature that they intend to try and
pass bill carrying out the instructions of
the governors message In fact Mr..
Onion has already offered a bill in
the House, providing for the measures
laid down in the governors message. 1t
| now behOOveS the members of the LegiS-
| latnre to study well this matter before
| they take any positive stand thereon.
While we all admit that in case his fraud
| Is being perpetrated, that some active
steps should be taken to place it before
| the proper authorities, we are also COM
PEELED to admit that the message of Gov.
HOgg and Males testimony Doth read
| in rather vindictiVe manner.
The Legislature must also bear In mind
| that Governor llOgg is very sore on the
| federal courts just at present, inaSmuch
as these aforesaid courts have on every
occasion given ,iimmie'S pet commission
scheme the b ackeSt of eyes. 1t also must
be borne in mind that Governor HOgg is
| very cauStic in all that does not work to
his likening ard these federal courts in
Texas never have worked to HOgg'S
consideration the law makers should
study this matter carefully and remember
before they jump that they will be jump
ing dead against Uncle Sam when they
demand a removal of federal courts, and
they can also bear in mind that when
they jump against Uncle Sam it is very
much like the small boy running against
brick wall
There is bill now pending in the lPgS-
lature that is OF more than passing inte-
rest to the merchants Of Texas. 1t is an
act to regulate assignments for the bene-
tit Of creditors, and in its main provisions
| requires that the debtor shall annex to
his assignment an inventory containing
the following statement:
|. \ full and true account of all the
| creditors of such debtor or debtors.
:. The place of residence of each Gre
| ditOr. if known tOSuch debtor or debtors,
| and if known that fact to be so stated.
| 3. The sum owing to each creditor and
| the nature of each debt or demand,
| whether arising on written security,
| account or otherwise executed.
4. The tue cause and consideration of
| such indie stpdneS in case and the place
| where such Indebtedness arose.
| ;. A statement of any existing judg
| ment, mortgage. collateral or other secur-
| ity for the payment of any such debt.
| u. A full and true inventory of all such
| debtors estates at the date of such assign
| ment, both real and personal, III law or
| equity, aud the mount rance existing
| thereon. and of all vouchers and securi-
| ties relating thereto, and the value of
! SucF estate according to the best knOwl
| edge of such debtors
:. An affidavit shall be made by such
debtor or debtors and annexed and de-
| liVGred with such inventory or schedule
| that the same is in all respects just and
| true iccOrding to the best of such debtor
| or debtors knowledge and belief. Moth
| ing contained in this act shall affect the
| aSSignOr'S right to retain all of such
| Of his properly as is by the constitution
| and laws of this Sta e exempt from eXecu-
| ton. but such list and inventory shall not
| be conclusive except as against the debtor
making the same.
Sec. 3 should the assets Of the debtor
| be sufficient TO pay 1873 per cent of all the
! claims Of all the accepting creditors, he
| shall stand DISCHARGED from all further
! liability to such accepting creditors on
| account Of their respective claims, and
| when paid to them each aC 'epting cred
| itOr shall execute and deliver to the as
| SignOr tor the debtor a release therefrOm.
| The bill is very lengthy in its provisions
and in section II provides that
| If any a>SignOr shall SecretG or conceal
| from his assignee any portion of the
property belonging to his estate other
than that which is exempt from eXecu-
ton or shall, previous TO and in cOntem-
pldJlOn OF an assignment, transfer any
portion with the intent or design to de-
fraud his creditors, such aSsignOr shall
be adiudged guilty of felony, and upon
conviction thereof shall be punished by
imprisonment and hard labor in the pen
itentiary for not less than two nor more
than five years.
Again in section 90 it provides that il
any inSOlvent debtor shall confess or Suf-
fer judgment or make any payment on
conveyance with intent to give prefer
ence, he shall be guilty of a miSdemeanOr
and subject to fine OF not more than
s 900, and to imprisonment in the county
Jail for any period of not more than one
year. Should any creditor or creditors
collide or offer to cOllude with any deb
tors in failing circumstances for the pur-
pose of securing a preference over any
other creditor or creditors, he shall forfeit
all his rights to his pro rata share Of the
assets of the debtor, and the same shall
be prorated among the other creditors ac
cepting.
The whole trend of this bill seeks to
place this matter OF assignments on a
fair and impartial footing and should re-
ceive the support of both the legislature
and the people at large Its provisions
will certainly put an end to the practice
that has become so prevalent in Texas of
late years. There will be no more OF this
annual assignment that is now so much
q habit with a certain class of merchants
in this state, and II this bill is made q
law the merchants of Texas, who better
to have been handicapped by these dis
honest merchants can now be assured of
a fair deal to all. SMOOT.