The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-02-20
THE BANKRUPTCY BILL.
Substitute for the Nelson Bill
Passed by the House.
1T HAS BOTH FEATURES
Considered Less Drastic Than the Mea-
sure Passed by the Last House.
Twelve Democrats Only
Voted for the Bill.

Washington Feb. 19.-After four
days of consideration the house to-day
passed the bankruptcy bill reported by
the house committee on judiciary as a
substitute for the Nelson bill passed
by the senate at the extra session last
summer. The bill is known as the
Henderson bill, and contains both vol
untary and involuntary features. 1t is
considered less drastic than the meas
ure passed by the last house by a vote
of 15l to 81. The involuntary feature,
however, had but 16 majority. To-day
a motion. to strike OUT the involuntary
features was defeated by majority OF
80, the vote standing: Ayes, 1853: nays,
ia. Eighteen republicans voted against
the bin and II democrats for it. The
populists, with one exception, voted
against it.
To-day the bill was read for amend
ment under the five-minute rule. I'm
der the order made the final vote was
TO be taken at o'clock this afternoon.
Mr. Bailey sought to secure an arrange
ment by which the house could have an
opportunity to vote on the senate or
Nelson bill before voting on the
house substitute, but he failed. An
arrangement was effected, however
by which the first vote taken at
o'clock should be on Mr.. Underwood's
series of amendments to strike out the
involuntary features of the substitute.
During the consideration of a motion
to strike out the section defining the
terms used in the bill. one of which de-
fines "insoIvent" as one whose property
at a fair valuation, was not suiflcient
to pay his debts, Mr.. Bland, dem, Mo-,
stated that the effect of this provision
Ill 10 .Rd 6Y a JEA
half of the business men of the country
bankrupts.
Mr. Lacey, rep, Iowa. said he would
not give his support to the Involuntary
features of any bankruptcy law. tDem-
ocratic applause.)
The debate on this amendment pro-
ceeded in a desultory manner. Mr..
Bailey, dem, Texas, got the floor upon
another unimportant amendment, ana
submitted briefly some observations de-
filming his position. He was as anxious,
he said as any member of the house to
see an equitable bankruptcy law
placed on the statute books. But his
anxiety would not lead him TO vote for
a measure which would injure the SOL
vent more than it would benefit the m
solvent.
Mr.. Cannon, rep. H., created some
enthusiasm on the democratic side by
announcing that he would refuse TO
support the bill.
Mr. Mahaney, rep, y. Y, offered an
amendment limiting the operation OF
the act to two years from the date OF
Mr.. Mahaney said he would be glad
to vote for the bill IL this amendment
were adopted, but he was opposed to
putting i'm operation indefinitely law of
this character.
The vote ON the motion was taken by
tellers and the announcement that il had
al urpafpd with loud aDDlauSp.
Mr. Henderson Immediately moved to
reconsider the vote and Mr.. Bailey moved
to lay that motion on the table.
The motion to lay on the table Mr..
Hendersons motion to reconsider was
lost l46-l56. When this vote was an
nouneed the hour set for a vote a
| o'clock) had passed. The motion to re-
consider was put and carried without di-
/ vision and the vote was about to be TAX
/ en- again on the Mahaney amendment
when Mr.. Dalzell made the point OF order
1 that the order under which the house
was operating precluded any further ac-
4 ton except upon The Underwood amend
1 ments. which. under the arrangement,
/ were TO be voted upon at o'clock
! This point of order the speaker sus-
/ tanned. An interesting parliamentary
struggle followed, in which Mr.. Bailey,
! Mr. Williams. dem. Miss. ~and the speak
er took part which finally resulted in
+
/ reconsidered it's action in regard TO the
| Mahaney amendment and that vote
upon ii was now excluded by the house,
! The Underwood amendment. which
struck out the involuntary features OF
the bill was then presented and voted
on under the order of the house. The
amendments We're defeated, l29-i5s
The vote then came up on substituting
/ the Henderson bill for the senate Cor
| Nelson1 bin and the motion prevailed
13S-l24. Mr.. Terry, dem. Ark. the senior
! member of the judiciary committee, then
| moved to recommit the bill, with instruc-
tons to strike out all the involuntary
features. except those for actual frauds
| The motion to recommit was lost Mr.
/ Terry insisted upon an aye and nay vote
for the final passage of the bill. The bill
| was passed. 159-i2i.
Mr.. Henderson. rep, Iowa, Ray, rep,
New York, and Terry DEM. Ark, Were
| appointed conferees ON the bill and then
49, -