Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-01-12

They Fear the Law Will Be Re-
pealed Sentiment Against
A lseasuye
Des Moines. Jan. l2During the past
4 few weeks there have been filed in the
Office OF the clerk Of the federal coui;
more petitions in bankruptcy THANH
during any equal period Of time since
the new law regarding bankrupts went
into effect. The reason for the filings
has been The agitation in regard to5thcl
, law and the Intention on the part OF
many congress- N ostry to get tile law
repealed at the present session OF con
81 sress. II wish thai. the paopie would
understand that the law is rot likely to-
be repealed at the present session.,
:, said Commissioner Mason Thursday.
Ihe petitions are coming in too thick
i and the Office win be showed under by
! the applications Which are being ell
tered. There is no doubt but that the
people VINO are taking advantage Of the
!, provisions OF the Law are anxious to get
through before it is repealed. But
/, there is no use in their being frightened
j about its being repealed at this session.
Under any condition tirle would be
\ given after the bill for The repeal Of the
\ present Las, was passed before It could
go into effeet And in the pi'esent con-
J. dition do rot think that there Is an.
!. chance for .s.e bill being repealed at
this session.
Des Moines Jan l2-The legal fra
! ternity OF Des MONIES is considerably
= Interested in the present movement 20
! u bill to that effect having been i'm
: troduced into the national house 81 rep
e reseatatives ~ Congressman Dolliver
! Of Iowa. On an average of fifteen pe-
: titions in voluntary bankruptcy Il week
"a are iileJ, in this city with the clerk Of
= the United states circuit and district
court, referred to the proper referee, by
whom the matter is adjudicated, and
~ then returned to the presiding federal
Judge, who enters the ruling of the
q court There is no question but that
q, the law is proving popular to certain
q officials and to those debtors who find
Kilt an easy way to settle old debts with
6 out having to settle for them, but it is
g an open question whether or not it
:, meets with the approval of the great
= number OF creditors IN this country,
x with the better class of debtors and
q with attorneys in general.
G Opinions differ widely in regard to
q the efficiency of the law, and there are
g those who have the strongest dislike
z for its dealings While others still think
Is that it has been one of the best pieces
@ of legislation ever enacted The mat
Gslter has been discussed at length at va
8 rious times and is now re-opened on ac-
g count of Delivers bill to abolish it
" ..f,,, l.,,
q are so generally known at present tina
& the matter is now being taken up wit!
8 renewed vigor and the opponents of tn,
& measure claim they will not rest unit
3 lit has either been repealed or amended
@ lin such way as to make it better
x lifted for the entire country.
q Converse ton with the attorneys o
e this city discloses the apparent fac
& that most of the lawyers are not salts
q fed with the Law. They complain tina
z their business has been seriously Gu
8 into by the workings of the law, be
" cause creditors refuse TO try TO collec
small claims against doubtful debtors
- Formerly the creditors did not hesitate
to sue for the claims. and by an exam
nation in supplementary proceeding
A take a chance of squeezing the none.
he out of the debtor. There IS no longe
any need for supplementary proceed
5r ings, out of which a young lawyer cal
- secure Il referees fee of So or $40. L
H. some this would appear to be an argu
,,a ment in favor of the bankruptcy Law
- but there are Of course two sides to til
"a argument.
,,s i, is especially noticeable in tn
ar courts of the justices of the peace tina
no bankruptcy has cut down the litiga
\, ;,,J.. ,is.t, Il,
~ not 70 be wondered at that there is
~ feeling of dislike among the attorney
IA OIL personal grounds This feeling is a
he prevalent in this city as elsewhere. an
few attorneys uphold the law. II.
,st majority of ,neln. however, hav
of watched its workings and are oppose
it'll to it on other grounds than those 1
mere personal loss or gain. 1t
q claimed that the law works create
US hardsfips than it does good and is
rs, menace To the country.
we While decreasing the quantity Of lit
ad cation. which might be considered
good thing the law also decreases I'll
80 amount of claims paid. for debts just
uf- owed Petitions are frequently filed
ted which the liabilities extend way up int
the thousands and the assets are les
nd than hundred. Several cases are o
record where the petitioner owes sevei
al thousand dollars and possesses absc
iutely nothing, so he claims. other tina
the clothes upon him. all the ready cas-
p having gone TO raise the SIS necessay
W as fee to become bankrupt. The a.
j. sets range from nothing UP to co
- and a saw buck 10 a few hundred do
lars worth OF property nearly alwa!
claimed as exempt. Should the law
va repealed, after It's present eightee
. months or so of service, there wou
- probably be a grand rush of debtors
Z get in on the ground floor and take az
|, vantage of the measure. While the la
: may rot be repealed there is q grown
7 belief that it will be amended so as
protect the interests of the creditors ;
we'll as the debtors of this country.
: The National Bankruptcy News tin'
- much to commend and much to oppo
III in the present law. In a recent issue
- quotes largely from speech made
q Dorr a. kinball. Of Chicago, before Il
Vlninth annual meeting of the llino
!, - Rapkers' Association on "(,re0it al