Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-26
RECORD OF BANKRUPTCIES
ILLINOIS SHOWS GREATEST NUMBER
OF VOLUNTARY CASES.
Advantage of the Law Taken by Men
of All Glasses and In All
Walks of Life.

f. C. Brandenburg, in charge of bank
ruptcy matters has made report to the
Attorney General on the operation OF the
bankruptcy act of July /, 1888. The report
says with reference to voluntary cases that
advantage is being taken of the law by men
of all classes and in all walks of life. and
in every section of the country The states
showing the greatest number of petitions
filed during the year are Illinois, with g.
COS; New York, with 3.O07: Iowa, 992; Ohio,
S57; Minnesota, $40. and Pennsylvania, 500.
The smallest number of voluntary petitions
were filed in the following states: Nevada,
6; Delaware and Wyoming, Il each; Idaho,
30; South Carolina, 81; Oklahoma, 80; Florf-
da, 81, and Rhode Island, 6S.
The grand total of petitions filed in the
United States for the period ending Septem-
Der 80, 1900, is 0,12S, exclusive of those for
the western district of Louisiana, the dis
trict of Alaska, and for half of the year for
the southern district of Georgia, New Jer-
sey. the eastern district of North Carolina
the western district of Tennessee and the
eastern district of Virginia, from which
semi-annual *eports were not received
FROM the Clerk reports it appears that
of the voluntary petitions all were adjudi-
Gated bankrupt except 237, in which the
petitions were dismissed and that dis
charges were refused In Il cases. Compo-
sitions were confirmed in 206 cases
voluntary Cases.
The liabilities in 1850 voluntary cases
reported by the referees amounted to S264,
979, l52, while the total amount of assets
scheduled In these cases was So. O9S.771.
The nature of the business in which the
petftioning bankrupts were engaged is pro-
portioned as follows: Two thousand and
hfty-seven We're farmers. 1916 wage earn
ers, 1892 merchants. 361 manufacturers
800 professional men and 4,435 contract
hotel keepers and others of miscellaneous
character.
Involuntary Cases.
In involuntary cases 1910 petitions were
filed, of which adjudications were made In
al! except 2S5 cases. Of the involuntary
cases 30 compositions were entered into by
the bankrupts and their creditors which
We're confirm d. The liabilities involved in
1,242 cases upon which reports were made
were 81 1891, while the assets scheduled
were $13, Abb -b9. In 100 cases no assets were
scheduled. and in a number they were
classes as unknown or nominal. The petit
tons show that of those adjudicated inyOl-
untary bankruDts 81 were wage earners,
694 merchants, 1O2 manufacturers 8 pro-
fessional men, 1866 miscellaneous and I
farmers. While under the law farmer or
wage Garner cannot be adjudicated an in
voluntary bankrupt it is quite probable that
they were engaged in other callings at the
time of the adjudication and the debts
were incurred while employed in one of the
excepted pursuits or otherwise.
During the past year there has been no
material change in the business transacted
from that in the year previous. The mag
nitude of the business under the voluntary
feature of the law, the report says, seems
large, yet MIR. Brandenburg is constrained
to believe that a good percentage Is made
up of old insolvents. and unless business
conditions materially change considerable
decrease of suits of this character should
follow Short I.
Increase in Involuntary Cases.
There has been an increase of a little
more than 800 petitions under the involun-
tary feature of the law, which, says the re-
port, is quite significant in connection with
the impression heretofore current that the
law has favored the debtor rather than the
creditor. The necessity of perfecting the
law by amendatory legislation IL declared
to be a matter of common knowledge The
report says that while it doubtless would
not be well to urge any sweeping amend
ment Congress should give it's attention to
the provision covered by section 81 CT
of the law, which has been variously inter-
preted by the courts, the weight Of the au-
thority-incl ided within which are two cir
cult courts IF appeals-sastaining the po-
sition that payments on account made
within four months must be first surrender
ed before the balance of the claim of the
creditor to whom such payment has been
made can be proved and allowed which in
depreciation, the report declares, is meet
ing with almost universal disapproval on
the part of the commercial community.