New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-05-03
BANKRUPTCY BILL PASSED
THE INVOLUNTARY FEATURES RETAINED
BY THE HOUSE.
PRINCIPAL FEATURES OF THE MEASURE AS
ADoPTED-MoNEY FOR THE BEHRING
SEA COMMISSION VOTED.

ADoPTED-MoNEY FOR THE BEHRING
SEA COMMISSION VOTED
Washington May AFTER debate continuing
over five days the House to-day, by vote OF ls'
to ST. passed the Bankruptcy bill reported by Gen
eral Henderson Rep. Iowa. from the Comlii''ee
on the Judiciary. and managed by him throughout
the debate. 1t Is substantially what Is known as
the Torrey b.ll. Although the debate was sup
posed to be under the fve-minute rule on amend
ments the House INDUCED several members beyond
that limit while they expressed their Views on the
measure. These notably Messrs Hepburn
Qacp. Iowa.. who opposed the bill. and Grosvenor
Nsep Ohio, Bartlett dem. y. y and Dlngley
(lep.. Afe). who advocated It's passage Action on
the bill confined altogether to the second sec
ton. which defined acts OF bankruptcy
The ninth and last OF involuntary bank
ruptcy reported by the committee, was, on
motion by Mr. Spaldlng Rep. Mch) stricken out
1t read: Having suspended and not resumed ior
thirty days and until petition Is fled while In
solvent. the payment OF his commercial paper FOR
or aggregat.ng $500 over On motion by MI
Mahon Rep.. PENN, petitioner to have a person
declared n bankrupt was required to hle pohd
for damages and costs before the Court could act
on the petition. And on motion by Mr.. Farchild
Rep.. n. " the bill changed to require at
least three creditors join in any case to throw
a debtor into bankruptcy.
BY vote Of lO2 to -. the House refused TO strike
out the Involuntary features Of the bill. and by
vote OF % to 70 refused restrict the application
OF the involuntary feature to of actual fraud
Mr. BaIley's dem. Tex substitute for the bill
was rejected. 40 50. and that OF Mr.. Broderick
ORep Kan). the latter being the George bill, re-
ported by the Senate Committee on the Judiciary,
BY vote OF l2S to liz.
Pending the consideration OF the Bankruptcy bill
Mr. Hit CRep. H. chairman Of the Committee
on Foreign Affairs. called up and the House passed
without a division the bill passed by the Senate
Yesterday approprating $1,000 to detray the ex-
penses OF the Commission to BE- appointed under
the recent treaty with Great Britain to determine
the claims for damages for the seizure of alleged
! Bchring Sea seal poachers
Ipon the unanimous report OF Elections Com
mittee No g. Il. T. Thorpe Rep) was declared to
be entitled TO the seat from the IVth Virginia Dis
trlct occupied by W. II. Mckinney CDem) and he
was sworn In by the Speaker.
The House at 5lj O'Clock adjourned.
ACTS OF BANKRUPTCY DEFINED.
The second and third sections OF the bill. which
define acts OF bankruptcy. the principal feature Of
the measure as finally passed by the House, are as
follows:
Section . Acts OF Bankruptcy-|al Acts OF bank,
rlptcy by A person shs. consist OF his having ~
concealed himself. departed or remained away from
his place OF business residence or aoiciie W''
tent 10 avoid the service or Sivl process aiu ,o
feat his creditors. and shall not nave returned a.
least forty-eigh hours before the hns OF p eTn
shall have been impaired altered or interiered WIN
81 failed foT thirty days ana until pel''o - ru
while insoiyent to the rc.ease OF any prop
crty ,evel upon under process OF laW lot -" VI
time under such process then unth three uhys
the time fixed for such sale; Cl made uaiSIr ~
any Of hls propcfy wtm t ,he ownnrshp and pos
session Of such property before the rights 81 crei
son ~ such transfer and at least ten days before
1 the commencement or proceeding III "innl"P'1}H
a. made an assignment for the benefit OF MS credl
tors or nled in court written statement admitt.ng
his inability pay has debts; D) made "ne s lsoi
any Of II 10 be taken or levied upon by process Of
law or otherwise FOR the purpose OF gv.hg P'Sut h
.nre and has not regAinci the ownership OF suSh
property or recessed zane from such evy before we
rights II creditors shall have been altered GnanHoI
t,,~ and nj least ten DAYS before the commence
ment NJ a proceeding in bankruptcy 90 pFo'uuIeh ..
I with intent to defeat his creditors. ana sunersi
same remain unpaid untli zen Iays nvto tba e
/ ravm.nt or satisfaction Of such Judgment ny
sale Of any OF the debtors property or from tne
mont Of such Judgment under the provisions OF ms
section "a secreted any OK his propetty 20 hi
hing levied upou under legal process against MN
sef and 10 defeat his creditors. ana mas hot sur
rendered such property to snon .sSa' ppnttion in
bankruptcy: 90 suffered while nsoVcht an chtSu
ton FOR 800 over or nnior hr 90 70 be- re-
turned no property found unless the amount snos
to be due i, such execution shall be PAID before
p.,'S" peti, ton, may be filed against person who
has committed an aGr s 81 n' OF snch act
f M r,se can petition be fled signed by less
.hnn tbrne creditors with favorable claims asainst
a'a, snn .ho has committed an act OF bankruptcy
which amounts I'm the aggregate IT eN''ss 81 '
v,iu Of securities held by them, II any, to $500 or
oSer such time shall not expire until four months
after u IN. date OF the rccOilS OF ~ vs.
'he transfer or assignment. when the act consists
in having made transfer OF any Of his properly r
with intent to defeat his creditors or l2r tn' pua
yv,ed or m assignment for the benefit of his credi-
tors II by law such recording or resst,rfS Is ,t
Win the beneficiary takes notorious. exclusive Sr
continuous possession OF the propr' ro.ln.
petonlng creditors have recev wed a', h no'''
OF such transfer assignment; or % the ua,' ~.
the return 81 legal process when the &C, SJSisS h
Ing levied upon under legal process aGlnst hinsrh
and to defeat his creditors AS HereihDr'ore pro-
Provided II said involuntary petition be dismissed
by me court or withdrawn by the petitioner or
petitioners with leave OF the court IN" iT ~
or respondents to SAID petition shall be ailo"st 10y
n. court All reasonable expenses ana counsc ICES
,.,rred nv respondent or respondents In defending
against such petition, and the petitioner or peu,
tioncrs shall pay all expenses ana counsel ices a.,
allowed by the courts. well as the cost OF SAID
nr5yi.i further that within FIVE days from
the Tine an involuntary petition is fled In court the
petitioner petitioners shall ME oold III tns S, ,h
NJ least two good and sufficient suretes to be ap.
nroveJ bv the said court n such sum as the court
p pay dpcct conditioned 70: the payment to the
respondent respondents. their heirs admlhls,ra ,s
aprs comnsel fees allowed by me court No action
shall be taken the petition until AFTER Dohd mas
h.en filed and approved by the court 80 A..
So : Who may become bankrupts-lD Any
person who owes debts. exc 'pt corporation shaii
M nti,II 10 the benefits OF this act as voluntary
bankrupt. -, s.h,, - tina a,,ount ~
G, c.n or over II adudgcd as involuntary bankrupt
uvnon nm mpa rtial trial. shall be subjected to tne
,rnyisions of this act. except % NATIONAL Dahk'
70, person engaged chiefly In farming or the tilage
OF the soil or CD wagc-earner
IN BEHALF OF AMERICAN SEAMEN.
vp rRYE's BILL TO BETTER THEIR CONDITION
REPORTED TO THE SENATE.