The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-04-23
Senate Finally Passes The Substitute for
The Dill Passed by the House.
FAYORS DEBTORS AND CREDITORS
Friends efthc Eill say They Tried to
vide. Tor Voluntary nnd Invnlun.
rnrJ Rnnkruptcy-Rc Resolution OF
Sympathy WITH trccce.
(By Associated Press to The Vlrginian.)
washington, D. c., April %


one Of the most eventful since Congress
assembled. 1t opened with proposi-
tion for an official express on Of sympa-
thy TO the Greeks lin their struggle with
Turkey. This soon was merged into Il
turbulent debate over the disorganiZed
state Of the Senate during which Sena-
tor Morgan characterized Speaker Reed
as the great white hlibuster" Later i'll
the day the Nelson bankruptcy bill was
passed by the decisive vote OF 20 TO S.
SYMPATHY FOR GREECE.
Mr.. Allen offered the resolution pro-
vid.ng that the chief executive express
the sympathy of the American people
to the government of Greece The Sena-
tor declared that the present contest
was one between Christianity and
PaganiSm. AT the request Of Mr.. Davis
chairman of the Committee on Foreign
Relations, the :esolutinn was referred
Mr. Davis promising speedy action.
The debate on Senate committees
aroused Mr.. Morgan to speech of un-
usual severity He spoke Of dictator
ships OF the subordnation OF public
business to politics He characterized the
condition of inacton in the House Of
4 Representatives as the most gigantic
and unheard Of hlibuster ever at
tempted In conclusion Mr.. Morgan
said that the spea.:er of the House,
who had been known q the great
white Gar" should be hereafter known
as the great white fil!buster."
Another stirring chapter to the same
subject was added by Mr Allen, who
proposed o complete cessation of Sen
ate business except TO consider approp-
ration bills until committees were filed
The resolution led to another heated
debate in which Messrs. Chandler Gear
and Allen participated. The resolution
finally went over.
BANKRUPTCY BILL PASSED.
The bankruptcy bill! as passed Is the
substitute framed by Mr. Nelson The
success of this substitute in disp!acing
the committee bill was a great surprise
and disappointment to the judic 'ary
committee which had reported com
prehensive bill, known as the Torrey
bili. 1t was regarded as Il personal
triumph to Mr.. Nelson
The Nelson bin as passed. provides
for voluntary and Involuntary bank
ruptcy. but the theory Of its author
was to free It from harshness and make
It of the substantial benefit to debtors
and creditors
1t IS comparatively brief and simple
compared with the bill reported from
the Judiciary committee and known as
the Torrey bill
SOME OF IT'S PROVISIONS.
The Nelson bill provides that any
debtor, other than corporation owing
two hundred dollars or more who is un-
able to pay his debts. may file his pc
tition in the district court of the United
states FOR the district or division there
or IN which he resides. asking for a
discharge from his debts and Offering
10 surrender all his property for the
payment OF his debts except such as Is
exempt by the law Of his domic,lc from
execution and liability for debts Tho
petitioner shall attach to his petition q
schedule and list Of all his property, cX-
cfnpt and uneXcmDt. and q sChdulc and
list OF all his creditors and the amount
ana nature Of the debts due each. and
snail oter to surrender all his unoX-
empt proDertY for the payment OF his
debts. and shall conclude with a PRAYER
lnr ruil discharge from his debts and
nahllities. The nctitiOn shall be heard
by the court not less than thirty or more
tnan ninety days from the time 1t is
1lled. If the court uphOIds the petition
the estate Of the bankrupt is transfer
RED 10 an assignee for the settlemn,
CREDITORS NAY RESIST,
Creditors can resist the proccedinrs
before the court on certain enumerated
grounds Of fraud preference to creditors
etc. Preferences four months prior to
ming bankruptcy petitions are null and
VOID and transfers Of prOperty within
S% months are vo,d Provision is made
for distributing the estate among crc6i
tors. After the settlement the court
gives final hearing and when all pro
ceedlnEs have been regular. n final de-
cree IS given, 'dschargng and acuuit-
tihs the bankrupt from all his debts and
ia an.iii:eS due any Of the creditors de-
scrlbed in the schedule attached to his
Petlt'on or to any Of the creditors who
may al any time subsequent thereto be-
coine party to the proceedings But
surn discharTe shah not include any
uents or ohlgatiCns which shall have
oeen created In consequence Of his de-
ialcation as public officer, or as an
executor. 'n.strator. guardian or
trustee or while acting In any other
inonciary capacity; nor any debtor OBJ
HYatlon 70 any surety Of the banhrupt
VINO mas paid or may paw. anv such
nduclarN debtor any part of # nor any
debtor obligation created by tho obtain
ing 'i moneys or property under false
preteDSes."
INVOLUNTARY BANKRUPTCY
The provision as to Involuntary bank
ruptcy is rs follows
ihat If any debtor being a banker.
broker. merchant. trader or manufac-
turer who owes five hundred dollars or
over and who IS unable to pay his debts.
shail at any time with.ng four months
es the time OF the filling Of tho petition,