New-York tribune., 1902-06-18
a UENDJNG BANKRUPTCYL4W "
BILL MAKING IMPORTANT CHANGES
PASSED BY THE HOUSE.

| Washington June 1.-THE House spent the day
considering bills reported from the judiciary I'm
mittee. BY far the most important measure va"
that to amend the bankruptcy law The mlhoIi''
made a vigorous effort repeal the present Id
but we're Overwhelmingly defeated the vote ose -
90 TO I37. The hill passed amends the I'd" -
fifteen particulars to meet defects Whlch' II =
experience has shown The most important ai"el''-
rent is one to define preference to meet the 0u-
preme Court decision in the case of Pirle asdii
the Chicago Title and Trust Company fo az
ditonal grounds for refusing discharge IN oaii>
ruptcy also are added: First, obtaining proper y
m credit on materially false schemes: secoho'
making a fraudulent transfer Of property thllu'
having been granted denied DISCHARGE IN DailN
ruptcv within six years. and fourth having reiuseo
obey the order of the court or refusal 10 as"
material questions approved by the court
Mr. Raw tie chairman of the judiciary Conlht-
tee in explaining the bill. said that twenty thou-
sand resolutions and communications irohl ,i nc.
featuring and producing industries iilei
credit mems and other business ASSOCIATIONS Id"
yers Judges and business men generally app ms
the existing bankruptcy law. asking It's reteii'i
and approving the amendments suggesleo py G
bill had been before the committed Inc ai .
ments proposed, he said. were not huIlei Jus "
were such as experience demonstrated 10 DC ~
sertiaI for the more efficient execution OF the ID"
and the protection of all interests lnVolVeu- ->s
per cent of the replies to inquiries ne ia" -
broadcast over the country favored the re'eh,o
of the present law per cent desired IL repedleu VI
amended in accordance with the PROVISIONS Vi "
nendine hill and per cent desired II amenueu'
He explained the fifteen amendments pi pioP
the law In the Supreme Courts declsioii III @
cose of Firie against the Chicago Title and Trust
Company the court held that payment iiau "
cood faith after actual insolvency, though IN que
course of trade without intention OF making Piei
erence must be surrendered before 'he cteo
who received such payment could prove 'ie " ~ ~
mander of his debt This never was ih'eI
the trainers of the act Mr. Ray said 1t was '''
cause of 90 per cent of the objections to the law.
Mr. CLAYTON of Alabama, declared that 'iie Pt
ent act was the most drastic ana oppresSi'e ~ w
ever enacted so far the unfortunate deptoi "
concerned He suggested tnat nearly all the CIR
cular letters sent out by the chairman OF the
COMMITTEES had gone to wholesale merchants an. anu
1}sc;aIs interested in the law He believed the
law should be repealed instead or tia 4Tns the minor
ty would offer a substitute Dill 10 FePe"i 'i
Mr. Be Armond of Missouri offered an amend,
strike out all after the ena1rai39 a3 of the
Mr Rsy made the point of order that the amend
9snf ehaiT. was not seF"a"e' out was ss motion Of
MT. RaT Which provided that when a debtor et
waived his exemptions ne couId n M. 70, IN UbiCh
claim them under the law Of the state III "iil'"
he lived 49, .o. ,o., and the hill
Bins We're passed providing for TIE punishment t
while confined in State INSTITUTIONS TO ncreaSe Fr
the fees Of Jurors IN United from na rulings
of the General Land Office TO the supreme SoiI n
9f me nf tba Army Of Santiago de cuba the
appointment Of FIVE additional tnitea SiateS cV IN
niissioners and five additional constanIes IN 'f'e
Nj Ray called UP bill for the SUPP SUPPRESSION @ OF
The House agreed to the conference asked Tor
The senate bill to allow appeals to the Supreme
Court from the decisions OF me oP1,S here advarse
to the United States. and by the plaintiff 81 |here
the claim is in excess of S3o0. was passed "lth an