The Portland daily press., 1897-02-09
THE ROAD TOO SHORT.
Insolvency Law Discussed Before
Legislative Committee.
SPEAKERS THINK THEY ARE SOME
WHAT TOO LIBERAL.

Lewiston and Portland ..WellH Repre-
sented at the Hearing-Lawyer White
house Explains His Proposed Dis
closure Law-Judge PhiIbrook Unfolds
Scheme.
ESPECIAL TO THE PREss.J
Augusta, February 8.-The matter of
changing the insolvency law and the dis
closure law vas discussed before a sub
committee of the committees on judiciary
and legal affairs this afternoon. Business
men, lawyers and insolvency court
officials made remarks on the subject.
John Garner Of Lewiston. representing
the Lewiston and Auburn Grocers' 'associa-
tion opened ths discussion. He thought the
indebtedness should not be less than $1,000
and that the debtor should not be dis
charged without paying rs per cent
Col. A. B. Nealey of Lewiston thought
under the present law merchants had
suffered as much as any class of people
in the world and that it was not the
honest man that it was proposed to affect
by legislation. Col. Nealey said that
some men stocked up with groceries just
before going into insolvency.
"Should not the honest man owing
ess than $1,000 have the privilege of 60
ing into insolvency" he WAS asked.
Col. Nealey-"The honest man has
little trouble with his bills.
Mr.. Cloutier said he thought thnt
changing the limit from $500 to $500
would be little improvement ana that
$1,000 was none to small. Mr.. Cloutier
said 80 per cent of his goods were sold on
credit, and that Is per cent of his GUS
TONERS were given credit in excess Of
$500. President Babbitt of the Lewiston
Board of Trade, said he thought that the
limit of $500 was fixed for the benefit of
small business men, but that $1,000 would
serve them just as well and would pro-
tect all business men from dishonest
customers. MIR. Babbitt would not have
him given a discharge unless he had paid
25 per cent.
4 Mr.. Noble wished Mr.. Bnbbitt to apply
his reasoning to an honest workman,
and Mr. Babbitt said he was heartily in
favor of making every one pay % per cent
before he could be discharged.
& Mr.. Olfene of Auburn thought that
buying goods in contemplation Of in
solyency is as bad paying debts under the
same circumstances.
Vinal B. Wilson, Esq., said that he
represented the business men of Houlton,
and that he thought the only thing to do
Is to make 1t more difficult for man to
go into insolvency. The merchants of
his town would like to see the limit
unsecured indebtedness owed to people
residing within the limits of the state.
He Thought that If the new law promised
to be made hard ON debtors lot of
people would rush into insolvency before
the law goes into effect. Further he
would have it arranged so that debtor
cannot have tbe. benefit of a third volun-
tary insolvency unless said debtor shall file
with his petition a copy, certified to by
the register, of his certificate Of discharge
under his previous proceedings or in lieu
thereof the assent in writing to the fling
of the petition by the creditors. The
Houlton gentlemen would have debtor
file papers for disch srge within year Of
his second oath, but that six months
w3uld be too short time for the in
terests of debtors, creditors and lawyers.
Mr.. Wilson said that he thought judses
Of Insolvency and probate should receive
salaries and that the fees should go to
the counties.
Col. f. NJ. Drew, judge of Insolvency
and probate. AndroscogRin, said that
when u man petitions into insolvency he
should havo to meet his creditors in the
insolvency court, and explain his fnan-
cial position and that the pending
question should he whether the debtor is
or is not entitled to insolvency. Judge
Drew advocated the salary plan, and
when asked by Mr.. Noble to speak on
disclosure he said the only thing he
90 him and said they had got to go into
insolvency or Jail.
Mr.. Noble was excused by the COM
mittee when he said that they were going
to have some caucuses in Lewiston and
that ne got permission to run over at
Augusta only by promising that he
would be back in the evsning.
MIR. Kendall of Sagadahoc Fertilizer
company of Bowdoinham. said his COD
Germ employed lt0 agents to sell their
goods and Is lawyers to collect the pay.
Mr.. Kendall argued that the present law
is spreading an insolvency habit over
the state among farmers and other peo-
pie who do 1t just because some one else
paid his debts. in that way and that ordi.
narily if o man is willing to pay 25 pe1
cent he will avoid trouble. Mr.. Ken
dali recommended that man who sold
goods for less than cost in con templa-
tion of Insolvency should he debarred
from insolvency
r. Z. Whitehouse of Portland said his
presence was due to his interest in the
disclosure law. he has been commits
sioper some time and had at the request
of Senator Reynolds, prepared bill on
disclosure. Mr.. Whitenousa strongly ad-
vccated conservative course so that the
traders would not be coming to one leg
islatuIe for relief one year ana the deb
tors the next, He said that thero we're
INSCRIPTIONS, incompetsnt and iutsm-
perate disclosure missioners III the
state before whom tbs most respectable
people might be summoned.
Mr.. Whitehouse then ai0esied his bill.
He argued thnt commissioners should