The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-05-03
THE HOUSE.
After Five Days of Debate the Henderson
BANKRUPTCY BiII Is Passed.

After Five Days of Debate the Henderson
bankruptcy BhI Is Passed.
Washington, May 2.-The house to-
day, after five days of debate. passed
the Henderson bill to establish a uni
form system of bankruptcy, by a vote
of 157 to 81. The majority in favor of
the bill was greater than its friends an
ticipated, owing largely to the fact that
quite a large number of members, who
desired only a voluntary bankruptcy
bill, after being defeated, voted for the
measure as reported. There were but
two amendments, one unimportant, the
other making the non-payment of
note for 80 days an act of bankruptcy.
The bill, as passed, is based upon the
Torrey bankruptcy bill, which has been
urged before congress for several years.
1t provides for both voluntary and in
voluntary bankruptcy. Under its terms
there are eight acts for which a debtor
can be forced into voluntary bank
ruptcy, as follows: First-If a person
has concealed himself with intent to
defeat his creditors for As hours. Sec
ond-Failed for 80 days while insolved
to secure the release of any property
levied upon for $500 or over. Third
Made a transfer of any property with
intent to defeat his creditors. Fourth
Made an assignment for the benefit
of his creditors. Fifth-Made, while in
solvent, a transfer of any of his prop
erty for the purpose of giving prefer
ence. Sixth-Procured or suffered
judgment to be entered against himself
with the intent to defeat his creditors
and suffered the same to remain I'M
paid ten days Seventh-Secreted any
of his property to avoid its being levied
under legal process against himself.
Eigth-Suffered, while insolvent an ex-
ecution for $500 or over to be returned,
no property found.
On motion of Spalding, republican,
Michigan, the ninth act of bankruptcy,
as defined in the bill, was stricken out,
as follows: Suspended and not resum-
ed for 80 days" Hepburn, republican,
Iowa, denounced the bill as a fraud on
it's face.
An amendment offered by Mahon, re-
publican, Pennsylvania, to compel pc
titioners to an involuntary proceeding
to file bond sufficient to cover dam
ages and costs in case the petition is
dismissed, was adopted, AS to 43. w. A.
Stone, republican, Pennsylvania, moved
to strike out the involuntary features
of the bill; defeated. Various attempts
to strike out certain acts of bankruptcy
provided in the bill were also defeated.
Mr.. Henderson, in charge of the bill,
closed the debate, and at o'clock, I'm
der the Special order, the bill was re-
ported TO the house where, under the
agreement, Mr.. Bailey, democrat,
Texas, and Broderick, republican, Kan
sas, offered two substitutes, each for
a voluntary system of bankruptcy.
Bailey's substitute was defeated on a
rising vote, SO to 120. Broderick's sub
stitute, which was substantially the
bill for a voluntary system of bank
ruptcy, reported by the senate COM
mittee, was also defeated on an aye
and nay vote, 112 to 12S
w. A. Stone moved to recommit the
bill to the Judiciary committee with
instructions to report the bill back
amended so as to confine the involun-
tary features of the bill ito the cases
of actual fraud. The motion was lost,
SS to 116 The bill was then passed.
Turner, democrat, Virginia, called up
the contested election case of Thorpe
VS.. Mckinney, from the Fourth Vir-
ginia district. The report was unani-
mously in favor of the contestant,
Thorpe, and without opposition 1t was
adopted Thorpe then was sworn in.
During the debate, Mr.. HIT, chair
man of the committee on foreign af-
fairs, called up and had passed with
out objection the senate bill passed
yesterday, approprfating $4,000 for the
expenses of the Boring sea commits
sion on it's deliberations at San Fran
cisco.
At Sis o'clock the house adjourned.