New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-18
THE BAILEY BANKRUPTCY BILL PASSED.
PROVISIONS OF THE MEAsURE-rwo BILLS FROM

PROVISIONS OF THE MEAsURE-rwo BILLS FROM
THE JUDICIARY COMMITTEE PASSED.
Washington July 1.-THE day was accorded to
the Committee on the Judiciary. under an order
adopted by the House yesterday to present DIS for
considerations but an hour and half OF the ses-
sion was spent on other matters before the COM
mittee found It's way clear TO the floor In that
period the Bailey bill to establish a uniform system
OF bankruptcy, which came over from yesterday.
was passed. Yeas ~; nays. 81.
The Committee on the judiciary succeeded In pass
ing two bills, authorizing the appointment OF d
third Circuit Judge In the Eighth judicial District
and the other making United States railroads. Tor
the purposes OF jurisdiction. citizens or any STATE
into which their tracks or leased lines may run. or
in which they do any business ana IN WHICH Tic
cause OF action may occur.
Messrs Catchngs dem. Miss). Lester tDem'
GA and Henderson Rep.. ln). were appointed COM
ferrees on the part OF House for the consideration
OF the River and Harbor Appropriation bill.
The Bailey Bankruptcy bill, as passed, reads as
follows: .o
BE 1t enacted etc. that II any debtor owing wy
or more shall execute an assignment or cesson or
his property. valid by the laws OF ne Ssa.e ,v re-
side II he have property In any otner =,
ton then as TO such pTopeT sccordance with the
requirements OF this act. 1t shall have the eUect
Sec That such assignment or cession shall be
accordance with the laws OF The STATE
the debtor resides. and shall convey an ot III" ia ~,
OF the debtor except such as is exempt Wy M ~ h;s
OF his domcile from execution and liability TOT h ms
debts and shall be for the equal Oh with the
preference hereinafter allowed IL shail conI ,s,r
list OF the and residences OF sil ms % h
ana schedule OF his property. al, OF which shal ps
verified by the OF the debtor to be correct, anu
mnstered and distributed among creditors rs
ing TO the laws OF the State where 'he ueo''' ''
sides spoeS to se t may Contain all or
any OF the following preferences. namely: .,,c,
any OF the property OF the debtor il situated or TO
the servants or aborers OF the debtor. 49,. on,ro-
ton OF four months from the date OF the execution
81 the deed Of assignment and the acceptance Of the
Tss by court !nT OF thee ned States the district
in which he resides: or II he be resident %, n oe
the said district or II he be resident OF Terri,
tory then in the district court OF such TERRITORY OF
charge rom said debts The petition shall contain
a true copy Of the deed OF assignment ana sha'' De
Vffe 'y rhn the creditors OF the debtor shall be
made parties defendant and shall nave nr ny even
as IN suits in the courts OF the nited states anu
sbau have thirty days thereafter In which 10 answer
said ps,tlon. Upon hearing Of the petition. Il 1t
shall appear that the debtor did MAKE an as 80
msn as 1 and complete conveyance OF all his
unexempt property and that within tn.ee i1on, ch
debtor had been preferred in any manner except
as authorized by this act and during sald I'M n
Ih,or resnecng his business estate TO prevent
an equal distribution OF his estate among MS cree
1,ora or 10 give one creditor advantage over an
other or 10 defraud hts creditors. and that no az
tachment has been levied upon the properE Oh SUN
debtor provided however. that II. WITHIN tvuI
months after the levy OF an attachment, the uep,or
shall assignment or cess,9h sS anS nr e be
nefItIon for discharge herein PROVIDED TOT tHe
execution of such assignment and the ming OF sucn
nsti,ion shall vacate the levy OF such attacnment
and such debtor shall be then entitled TO the oenent
81 The provisions OF this act the court snau orne
on1 adidpa that such debtor be forever discharged
rom he PAYMENT OF the debts MENTIONED ana set
,,h a. No re,itlon: and such order and adtudca-
,t shau he a fuL complete ana final discharge
Of such debtor from the payment OF the said debts
ro,.iIad that no person shall be discharged from
INV ieht or obllga ton which shall have been crsaed
in consequence OF dedication as pnonc of, ,rs
,ao or uhIle acting In any hduciary capacity.
Sec 6 That this act shall continue IN rorce Two
ycors and no longer: provided. that all actions
iegun within that time shall not be anected by is
expiration. .s,o.o, 90 a conc,us,on
~" ~ saId act was in fun force and effect.