The Portland daily press., 1896-04-27

| continued from First Page.
ter. and all such expenses have boen linz
ited and cut down to the very lowest
polh6 consistent with the enforcement
Of the law.
Choer the former law the title to the
oankrupt's property vested in the assignee
az OF 1he date of the filing of the petit
IN bankruptcy. Under this bill it vests
as OF the date Of the Adjudication in
bankruptcy.
Creditors and their counsel were COM
PEELED to go before the registers in bank
ruptcy located where the bankrunt court
was held under the old law Under this
bill each county may be district for the
referee. SO that ali parties interested and
their local attorneys for the most part
may attend to the business in bankruutcy
proceedings without being put to the ex-
pense of going to the place where the
United States courts are held except only
| in the important matters of the adjudioa-
ton in conteste cases. the confirming or
setting aside the confirmation of COM
position, or the granting or revoking of
a discharge; or in cases where the par
ties in interest request that the findings
OF the referee shall be certified to the
judge.
Under the former laws, arbitration in
addition to the regular course in bank
ruptoy was provided for. Under this bill
majority in number OF all creditors
whose claims have been allowed, which
number must represent a majority in
amount OF such claims, may secure o
composition and obtain for the debtor
dismissal Of the case. In addition to
this, provision is made for the arbiura-
tion of controversies, and also for COM
promises of controversies, SO that under
this bill every effort is made to shorten
up the proceedings IN every way posi-
BILE and to promptly secure q distri button
OF the assets and release of the honest
debtor from his obligations
Under former laws cor DoIations could
take the benefit of their voluntary pro-
visions. Under this bill they can not do
so.
Under the act of 1867, as amended, no
discharge was granted to debtor whose
assets did not equal so per certum of
the claims proved against his estaue for
which he was held liable as principal
debtor, unless the assets in writing of a
majority in number and value of his
creditors was filed in the case at OF be-
fore the time of the hearing of the appli-
cation for discharge. Under this bill no
assent is required from the creditors If
the debtor has acted dishonesty by COM
m1ttlng certain acts forbidden in the bill
he Will not be discharged; if he has act
ed honestly he will.
This bill has been drawn by the in
dietary committee, of which Gen. David
b. Henderson of Illinois, is chairman.
Ihe Dill Itself Is very long, and to other
than lawyers and business men, seems
complicated. 1t is thought that it will
pass the House without great opposit-
ion.
Among the few private pension bills
that have PASSED the House this session,
- bill to grant pension of SIT a
month to Mrs. Cynthia A. Lapham, wild
ow OF the late DR.. w. B. Lapham of Au-
gusta, who was lieutenant in the 23d
Maine volunteers and the Seventh Maine
Battery. The bill viii probably pass the
Senate and become a law.
So far about 125 of the bills of this
Congress have been signed by the Presi-
dent, or have become laws without his
approval. Most of these are small bills
for pensions and other private purposes.
Except the appropriation bills, no acts of
national Importance are included, all
such having been smothered in the Sem