The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-10-12
CREDITORS MEETING PUT OFF.
bankrupt Proceedings Slow Owing
to Lack of Rules and Forms.

bankrupt Proceedings Slow Owing
to Lack of Rules and Forms.
A meeting of the creditors of r. W.
Hammond of Josselyn who has been ad-
judged bankrupt, was to have been held
to-day at the Office of Judge A. H. Mac
Donell, referee in bankruptcy, but an or
Ger was issued yesterday by the latter
postponng it for ten days.
A month ago Mr.. Hammond, who has
been identified with a large store and tur-
pentine business at Josselyn for
some years, was adjudged
bankrupt upon his petition, and
to-day was appointed as the time
for the meeting of the creditors, who were
to get together to elect a trustee to take
charge of all the assets of she bankrupt
10 be divided among the creditors. The
postponement was ordered on account of
the Supreme Court of the United States
being now about 10 promulgate the rules
and forms that are to govern proceedings
under the bankrupt law that was passed
few months ago.
Not since the passage of the bankrupt
act have there been any rules or forms to
govern proceedings, and many lawyers
have, therefore, held aloof from any prac-
tice before the referees. Throughout the
country there has been a marked hest
fancy on the part of attorneys to enter
upon bankrupt work, although it is known
that there are many who are anxious to
take advantage of the act and free them
selves from the incubus of debt
The southern district of Georgia is one
of the few in the country in which bank
rupt proceedings have been instituted, and
even here they have not been begun in
anything like the number expected as soon
as the Supreme Court has been heard
from with regard to rules and forms. Di-
rectly after the passage of the act, when
IL was seen that confusion would be likely
to result from lawyers having nothing to-
go by in taking steps to make clients bank
rupt, Judge Speer issued an order that
the rules and forms of the federal court
might be followed.
Most of the lawyers have felt assured
that to undertake to secure rulings would
be all right under this order, as the abili-
ty of the judge is recognized, and 1t is
not believed that there would be any
chance Of all proceedings being later pro-
nounced null and void on account of the
adoption of varying rules and forms by
the Supreme Court
Another version of the backwardness
that has as yet been shown In this dis
trict in the effort 40 obtain adjudications
of bankruptcy is that those wishing to
gain the benefits of the act have not had
TIC hAOAACy ~ Rdy Tue aNlOttGy 3 1GCS uIlu
the court costs.
To become a bankrupt will cost one
something like SIS or 800. The farmers
of the country, in whose interest IL is
claimed the bankrupt act was passed, will
soon have money from their crops, and
those who may desire to do so will then
be in a position to pay what it will cost
them to go to the wall The Supreme
Court is now in session, and IT'S promulga-
ton of rules and forms is expected this
week. With these IN the hands of lawyers
and all chances of proceedings being pro-
nounced null and void thereby guarded
against, and the prospective petitioners
with money to pay costs, it is likely that
there will be more work coming the way
of the referees in bankruptcy.
The time is nearly up in which people
can become bankrupts purely of their
own accord. Up to Nov / bankruptcy
will be voluntary, the referees acting up
on the petitions of those who desire 10
take advantage of the new law. After
that time, however, man may be forced
to become a bankrupt by his creditors.