New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-03
THEY PROTEST AGAINST THE ELL.
TIE NETWORK JEWELLERS BOARD or TRADE
ASK THE SENATE NOT TO PASS THE
BAILEY BANKRUPTCY MEASURE

ASK THE SENATE NOT TO PASS THE
BAILEY BANKRUrTcY. MEASURE.
At tho annual meeting OF the New-York
Jewellers Board o. Trade held yesterday
afternoon at No. SIS Nassau-st the follow
Ing were elected. A. j. &. Hodcnpy'. president.
August Oppenheimcr. first vice-president. +. '.
Ccrgue second vice president; David Keller. treas
urcr; Herbert NJ condit. secretary. The following
were elected directors; Ira Barrows. L. '. Cicrsue
william A. Copeland, George T.. Fahys. \. j. {.
Hodenpyl. David Keller. a. Loursbury. Joseph
Odenhclmer. August Oppenhelmcr. Frank II. Rich
ardson. W. T. Rosenfeld Samuel Wallach and Leo
Wormscr. The treasurers report showed that the
financial condition OF the board sound. Pres-
dent Hodenpyl In his address. said:
commercial book has often been spoken of
and at some future tine Their Is no doubt II YOU'D
undertaking. II would be advisable To get more
bc more unanimous feeling and greater loyalty
among our members. An instance OF the lack Of
bureau. continually running to other attorneys,
forgetting that In union there is strength. We have
s hG Been very III fwfr @ ana o hS s
small portion OF our collections. In case only 4
short time some Of our members were repre-
scnted by a dozen lawyers. Had this been set
tied through our own attorney we could have made
better. but instead this was wasted by paying the
LAWYERS who represented those individual clscs
We could mention such instances almost In every
failure.
The following petition to the United States Senate
IL being circulated among the jewellers OF this city
Ncw-York Jan. 81. 1896
To Members OF the United States Senate.
We respectfully beg your honorable body not to
consider favOraby II. II. bill 500 your calendar
609 known IA the Bailey Bankruptcy BILL for the
following reasons
First. bccadse the bill permits the insovent debtor
to select the assignee We respectfully submit
the debtor should be allowed 10 file his petition.
stating his estate 10 be lnsolycnt file inventory and
schedule OF creditors. ETC. that account 10 be sum
Client To prevent judgments or attachments against
lowed TO choose the assignee majority In mum
Der and value heng necessary for choice The
right OF bankrupt to choose the person who Is to
close mp the business and make examine ton
into his affairs. especially the conduct OF his bust
ness Immediately preceding his declaration of In
Second, the provision giving to one partner the
right 70 file list o! partnership creditors In case
the other partners refuse to join In the appca
for bankruptcy is a. most dangerous weapon to
place In the hands OF one member OF firm
Third. because this act, IA now drawn provides
This, In our opinion would result In such a scram-
bic TO take advantage OF the Jaw seriously TO
disturb commercial credits. We Respectfully sub
nit that bankruptcy law should be so consti-
tuted as TO render II permanent. and not a lem
porary breasfwork. behind which the incompe tent
This organization is composed OF manufacturers
and joDbers OF jewelry. importers OF diamonds
watch and watchcase manufacturers and kindred
trades, ana II favors a proper bankruptcy law
providing for the equitable distribution OF tho
estate or the insolvent among the creditors pre-
venting any dishonest preferences or concealments
and after that granting the bankrupt freedom, To-
engage In future enterprises but IL protests against
the passage OF this biil pending in the Scnate
Tor the reasons above stated.