The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1893-12-08
OPINION OF THE COURT BY rRrAR. J

The question is whether w. Fl
Aldrich IS entitled to be adjudged {
bankrupt upon his own petition. /
appears that he owes debts, due a
the time OF his petition, aggregatine
q little more than three Thousand
- doIiG-si- aud that his property, aside
from articles Of household furniture
OF little value, consists OF bequesi
during his life ora portion of the
income of part of the residue OF
who by will, after making certain
specific devises and requests, gave
the residue of his estate to trustees
upon various trusts, the third of
which is:
$40 appropriate and pay out of
the net rents, income, issues and pro-
fits derived from or yielded by the
equal one-fourth "a part of such
residue of my estate, and from the
successive investments thereof, here
inbefore provided for, SO much
thereof as may be required to be ex-
pended for the proper education of
the children of my said son William
Holt Aldrich, and to pay and de-
liver the remainder of such net
rents, income, issues and profits to
my said son, William Holt Aldrich,
for and during the period of his
natural life, and in quarterly, semi
annual or annual miscellaneous, as he
may elect; provided dloodys, and it is a
positive and specific condition of
this bequest, that said portion of
said rents, income, issues and profits,
shall be paid to him personally, and
only upon his individual receipt
therefor; also, that be shall have no
power to anticipate said rents, in
come, issues and profits, or any part
thereof, nor to ALLEVIATE, transfer,
convey, or dispose of the same, or of
any interest therein, or part thereof;
nor shall the same be involuntarily
alienated by him, or be subject to
attachment or execution, or to be
levied upon or taken upon any pro
cess, for any debt or debts which he
may contract, or in satisfaction of
any demands or obligations which he
may incur.
There are certain limitations over
upon the death of this son. The
amount of the income in question is
wholly uncertain, but it seems to be
admitted to be sufficient to pay the
debts In the course Of time, or even
at present, If available by way of
anticipation.
The statute, in Section 2, which
provides for voluntary bankruptcy,
authorizes "any person owing debts
to the amount of five hundred dol
lars" which have not been con
tracted in fiduciary capacity, to
petition to be adjudged a bankrupt.
There is no express qualification In
the statute, rs to whether the debts
must be due or not, or whether there
must have been a failure to pay them
when due, or whether the debtor
must be insolvent or not. Consider
ing the general purpose of the
statute, however, 1t is plain that the
legislature could not have intended
to allow "any person whether sol
vent or not owing debts whether
due or not to the amount of five
hundred dollars" to become bank
rupt. There must therefore be some
implied qualification or restriction,
there must be some implied circum-
stance or circumstances, In addition
to the mere fact Of owing debts to
the prescribed amount. But what?
Counsel for the alleged bankrupt
contends that 1T Is sufficient IL the
debtor in addition to owing debts has
committed any of the acts enumer-
ated in Section L of the statute,
which provides for the involuntary
bankruptcy, upon the petition or his
creditors, of "every person owing
debts to the amount of five hundred
dollars who shall refuse or fail to
make payment of any of his just de
mandS for ten days after the same
shall mature, or who shall depart the
kingdom with the intent to hinder,
DELAY or defraud his creditors, or
who shall secrete himself, or keep his
house to hinder, delay, defraud or
avoid his creditors, or to hinder or !
f3lalax the service of legal process for
the collection of any debts or who |
shall make any fraudulent or secret |
conveyance of his property to any |
person or persons, or make any secret |
removal or other disposition of his !
property for the purpose of hinder
ing. delaying or defrauding his |
creditors This contention Is IN |
sound. l. would allow the !
debtor to take advantage of his |
own wrong to the injury of his |
creditors. The statute Is designed |
for the benefit os the creditors as |
we'll as Of the debtor So far as it |
provides Tor involuntary bankruptcy, !
it is designed chiefly for the benefit |
of the creditors, enabling them to /
protect themselves, 80 far IS possible, /
from loss, which might otherwise re-
suit from either the wrongful acts or
the misfortune of the debtor. 30 far
as it provides for voluntary bank
ruptcy, il is designed chiefly for the
benefit of the debtor, enabling him to |
protect himself from attacks from his |
creditors when through misfortune |
or circumstances which the law
does not regard as wrongful acts or
omissions on his part, he is unable to
meet his engagements. The only |
circumstance mentioned In Section 1
which, coupled with the owing of
debts to the amount prescribed IN
Section 2, might enable debtor to
become voluntary bankrupt without