The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-03
NORTH TEXAS WEN.

NUNIn IEAAN VIZ ".
Fort Worth. January 2.--(Staff Core
spondence lit is already evident that tn
attempt in the coming legislature TO pass
law abolisAing preferences by falling debt
ors viii result in a sad case OF nike
pickles. The is no unan!mity OF opinion Il
to details among those who are taking th
lead in urging change Of the present sys
TEN. AS a matter Of ethics. 1t is cas-!
enough TO say that ali creditors shoul'
share alike in the distribution OF assets. bu
1t is an entirely different matter to framt
a statement that will effect such a result
without so hedging the mercantile business
/ with restrictions as TO do away with the
freedom OF contract, and cause serious dis
turbance Of existing business relations. The
difficulties IN the way are similar to these
/ that In the last two congresses prevented
the passage Of National bankrupt law.
| There is a strong sentiment here. as there
! was among the southern members OF con-
| gress. against any provision that would
| tend to force merchants into bankruptcy.
| on this rock the movement for a National
| bankrupt law went to pieces Another
shall constitute legal bankruptcy. All men
engaged In trade are borrowers at one time
or another, and are frequently called upon
TO execute deeds OF trust to secure such
loans. The most solvent men often figure
as grantors in instruments Of this nature.
II is apparent that If security Of this sort
were subject to subsequent attack as the
result OF failure unexpected to the lender,
that credits extended TO merchants would
be largely curtaied, and that a supervision
both harrassing and injurious would be eX-
ercsed over their business by their cred
itors.
On the other hand. nobody denies that
there are serious abuses under the present
system that ought to be corrected 1t is
agreed by all that something should be done
TO prevent fraudulent and fictitious trans
fers. Whatever may be done in regard 10
preferences II is safe to predict that strin-
gent measures will be adopted against
fraudulent conveyances.
.-:-
Mr.. Alexander Sanger, the senior mem
Der of the large house of Sanger Bros, Dali
las. has heretofore opposed general as
Segment law, but he now favors the pro-
posed change. To Post correspondent he
SAID: No system be worse than the
present one. 1t is wholly unsatisfactory
from every business point OF view. am
convinced that the best plan for the pro.
lection OF the interests of both debtor and
creditor is 10 put all creditors on the same
basis. That is equitable and 1t Will protect
circuit by assuring an equality Of treatment |
IN the distribution OF assets OF an insolvent |
business
A movement is on foot among the whole. |
sale merchants OF North Texas who favor
me adjustment of preferences TO unite |
their efforts IN the advocacy of a specffic |
measure the hot, ~,
may not be dissipated by division among
themselves a large majority OF them favor
change though there are some who pre-
Ter to let things stand as they are
Colonel John n. Simpson Of the Exchange
national bank OF Dallas thinks that total
pIohbiuon of preferences would have a
radical and far-reaching effect unon tho
trade of Texas not ANTICIPATED by tbose Who
advocate that proposal He favors how
ever the removal of the poNer 10 name
trustee from the creditor and strict LEGAL
scrutiny In every case of failure 10 detert
and defeat fraud
The fee bill fight is likely to prove quit.
as interesting as the contest over the as.
SlSnment measure. The incorporation of
the subject in the last democratic platform
Is pointed to by advocates OF legislation a.
guaranty that measure of some sor, )
MN ne passed. The indications are that z
ne controversy will turn upon The ex,or,
d the limitations and the disposition NJ Ma
suIpius funds, and that compromise blIl {
VIII finally be adopted. WI c
- ,
me inside history of the apno,ntnor, =,
'"oge wilkinson as reporter for the su.
pieine court comes to me from reliable :,
''uioe' IL seems that the appointments.
% DC made by that court. by n cus,o,, .,
w., s'ahuihg, are named by each Of ,bo
luuFes IN rotation. When the recent va c
o'us occurred 1t fell to Judge Tom nro,1,
,nd "an'e mo reporter, under this custo'n Il
las boen hIs mated Judge Wilkinson. Who Ii
WV" MS helshbor and close friend
ohe OF the most prominent railroad ,,. Of
'sers in tho Southwest said ,oaay. Th. fl
eNas railroad commission is a good thin. II
VI 'o'h the people and the railroads an1 6
-" ,ohaS would not abolish if II Ave.. k
las bce, ,o uociared that the commission it
isions. '"'' anu Just in its de- n
"uose Edward Gray of Dallas who ,s OF
''ne silver man, fears tha, tho ,foi-is, 81
,,',".l'''''oh VIII steal the thunder of tb, d.
' ''''' party before the next Na,ona, IN
'F"'sn' lie predicts that the next ann
''9S WIN pass. at the instance os MI,
tso to Siil that win he regarded as nnc g
lvestgationss' PG coinage. AS the result Of nj
rim ~ Ems made during prolorcoa ST
evo 10, r gope last year he does no, bo Nh
ian u 'sat England will under any c mpC pe-
romn IGr pi%eialsm There are as' few
here" ssid p Jnsso ms and business mem new
s ss free coinage but the m ,uSor inter re
NV wen ana the leaders OF politics VI pnsi r
old vgt,SeppS,ons' are firmly attaohe si WIN co
lpr for believing that it ia tb % Inc ,he Do
..'s' E.GS. on
b TOO. Took Out Thirteen sp,,n,. is
herman Courier. "'ers' m
H's' Chisholm of West Tepnes,oe du
90 D'u'y lurt in the tornado whit s' ' tn
Na'H CITY last Nav | bu