Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1896-05-09
THE BANKRUPTCY BILL
.ASSED THE MEASURE AFTER FIv.
DAYS OF DEBATE.
Eight Acts for Which "a Debtor Can
BE Forced Into Voluntary
Bankruptcy.

Washington, May 1.-The house today
after five days of debate, passed the Hen
derson bill to establish a uniform system
of bankruptcy by a vote of 157 to 81. The
majority in favor of the bill was greater
than it's friends anticipated, owing large
ly to the fact that quite a 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 unim-
| portant, the other asking the non-pay-
| ment of a note for 80 days an act of
| bankruptcy.
The bill as passed is based upon the Tor,
rey bankruptcy bill, which has been urged
| before congress for several years. 1t pro-
vides for both voluntary and involuntary
| bankruptcy Under it's terms there are
eight acts for which debtor can be
forced into voluntary bankruptcy, as fol
| lows:
| Ffrst-If a person has concealed himself
with intent to defeat his creditors for 4s
! hours.
| Second-Faled for 80 days while insoly-
| ent to secure the release of any property
| levied upon for $500 or over.
! Third-Made transfer of any Of mis-
| itors.
Fourth-Made an assignment for the.
! benefit of his creditors.
Fifth-Made while insolvent a transfer
of any of his property for the purpose of
| giving a preference.
| Sixth-Procured or suffered a Judgment
to be entered against himself with intent
to defeat his creditors and suffered the
| Same n rar1aiO y,DDai6 10 DAVIS
Seventh-Secreted any of his property
to avoid it's being levied under legal pro
cess against himself.
Eighth-Suffered while insolvent an ex-
ecution for $500 or over to be returned, no
property found.
on motion Of Mr.. Spalding of Michigan
the ninth act of the bankruptcy bill as
| defined in the bill was stricken out, as
| follows: suspended and not resumed for
| 80 days"
| Mr.. Hepburn of Iowa denounced the bill
as a fraud on its face.
| An amendment offered by Mr.. Mahon Of
! Pennsylvania to compel petitioners to an
| involuntary proceeding to file bond SUI
! ficient to cover damages and costs in case
| the petition is dismissed was adopted
As to AZ.
| w. a. Stone of Pennsylvania moved
/ to strike out the involuntary features of
! the bill.
/ Various attempts to strike out certain
! acts of bankruptcy provided in the bill
We're also defeated.
Mr.. Henderson, in charge of the bill
/ closed the debate and al o'clock, under
| the special order, the bill was reported
! 10 the house, where under the agreement
! Mr.. Bailey of Texas and Mr.. Broderick OF
! Kansas offered two substitutes, each for d
I voluntary system Of bankruptcy.
! Mr.. Bailey's substitute was defeated on
a rising vote SO 10 80.
Mr.. Brodericks substitute, which was
! substantially the bill for a voluntary
! system Of bankruptcy reported by the
! senate committee, was also defeated OH
an aye and no vote of 112 to 1928
| w. 4. Stone moved to recommit the Dill
; to the judiciary committee with instruc-
/ tons to report the bill back amended 50
/ as to confine the involuntary features oil
the bill to cases of actual fraud. The
motion was lost, IS to 16l.
! The bill was then passed.
Mr.. Turner called up the contested cleo
! ton case of Thorpe VS.. Mckinney from the
Fourth Virginia district. The report was
/ unanimously in favor of the contestant
! Thorpe, and without opposition it was
adopted. Mr.. Thorpe was then sworn II.
During the debate Mr.. Hit, chairman OIL
the committee on foreign affairs, called
! up and had passed without objection the
/ senate bill passed yesterday, appropri-
! ating $4,000 for the expenses of the Berlhs
/ sea commission on it's deliberations at San
/ Francisco.