Marietta daily leader. (Marietta, Ohio) 1895-1906, 1897-04-24
A SUM MARY
Of the Bankruptcy Bill as Passed
by the Senate.
Provides That Any Debtor, Other
Than Corporation,
Owing over 5000, May File His Petition
Offering to Surrender All His Property
for the Payment of His Debts, Ex-
cept Such AS Is Exempt.

Offering to Surrender All His Property
for the Payment of His Debts, tx
| cept Such AS Is Exempt.
WASHINGTON, April 23.-The bank
ruptcy bill passed by the senate Thurs
day was framed by Senator Nelson, OF
Minnesota, and is simple compared
with the Torrey bill The bill pro-
vides that any debtor other than q
corporation owing 5000 or more who is
unable to pay his debts may file his
petition in the district court of the
United States offering to surrender all
his property for the payment of his
debts except such as Is exempt by the
law of his domicile.
The petition shall give a schedule of
all property. exempt and unexempt,
and of all creditors and the amount
and nature Of the debts. aud the petit
tioner shall offer to surrender all his
unexempt property for full discharge
from his debts and liabilities. The
petition shall be heard by the court in
not less than 30 or more than 90 days.
If the court upholds the petition
the estate is transferred to an
"assignee" for settlement, creditors
can resist the proceedings before
the court on certain enumerated
grounds of fraud, preference to cred
itors, etc Preferences four months
prior to fling bankruptcy petitions
are void and transfers of property
within six months are void. Provision
is made for distributing the estate
among creditors. After the settle
ment, the court gives a final decree,
discharging the bankrupt from all
liabilities to any of the creditors de-
scribed in the schedule who may be-
come party to the proceedings But
such discharges shall not in.
clude any obligations which shall have
been created in consequence of his
defalcation as public officer, or as an
executor, administrator, guardian or
trustee, or while acting in any other
fiduciary capacity; nor any debtor OBJ
legation to any surety of the bankrupt
who has paid or may pay any such
fiduciary debtor any part of it, nor
any debtor obligation created by the
obtaining of moneys or property under
false pretenses. The provision as to
III hNOIuAGdlJ Dbhhi u pSy 10 VidE ~ any
debtor being banker, broker,
merchant, trader or manufacturer
who owes $500 or over, SHALL at any
time within four months of the time of
the fling of the petition, convey or
voluntarily cucumber any of his prop
erty with the purpose to prefer or de- |.
fraud any of his creditors, he shall be |
deemed bankrupt Creditors having
debts against such bankrupt to the
of $500 may, within four
months after the act of bankruptcy
has been admitted, file in the court
petition for an adjudication of bank.
ruptcy.
The court then proceeds within 80
days to hear the case. The accused
may demand a jury. On the hearing
the court or jury holds whether the
accused is or is not bankrupt. Fees
IN both classes of bankruptcy are pro-
7ided, viz Attorney fees not above 3,
800; assignee not above SO per day.
Appeals are allowed except when en-
ire bankrupt estate is under $1,000.
= WASHINGTON, April 23.-The house
las adopted resolution for the ap-
VI d VI
Oers. of which the speaker is chair
man, to attend the Grant tomb exer-
cises next Tuesday. The house has
also agreed to take three-day adjourn
ments next week with the understand
ing that no business shall be trans
acted.
WASHINGTON, April 23.-The United
States civil service commission will
hold an examination, commencing on
May 10, at Washington and at other
points where it has competent boards
OF examiners, for the purpose of es-
a register for the grade of
inspector and assistant inspector of
salmon fisheries in Alaska Persons
desiring to be examined should file
their completed applications with the
Z. S. civil service commission, Wash
ington, D, c., at the earliest possible
date.
The Holman Funeral Train.
WASHINGTON, April 2G.-The funeral
train carrying the remains of the late
Judge Holman leaves here Saturday at
3:45 o'clock, and reaches Cincinnati
Sunday morning, and will proceed
from there to Aurora, Ind, where the
interment will take place
WASHINGTON, April 23-President
Mckinley has decided to nominate
VIM. r, Day, of Canton, o., to be first
assistant secretary Of state, and ex-
Representative Bellamy Storer, of Gin
cinnati, O., to be minister to Belgium.
These nominations were to have been
sent to the senate Friday, but owing
to that body's adjournment over until
will not go in until next week.
The filing of the Office of first assist
ant to Secretary Sherman ends vexa-
tious problem that has bothered the
president. Storer was slated original
y for this appointment, but the nom
nation was opposed strenuously by
senator Foraker and other well-known
ohio republicans, who protested
.gainst it on personal and party
WASHINGTON, April 2a 2a-Representa-
i've Mcguire, of California, Friday in
a resolution in the house de-
laring that the war between Turkey