The sun., 1903-02-06
BANkRUPTCY BILL SIGNED.
Amendments That strengthen and Modify
the Existing Law.

WASHINGTON, Feb. 5.-The act amend
ing the bankruptcy law Of 1903, which was
signed by the President to-day, strength
ers and modifes that act In several I'M
portsrt particulars. The changes were
found neoessa ry through the actual workings
of the bankruptcy law enacted four years
and a half ago, and by decisions OF the
Supreme Court upon features which were
not entirely clear. These changes are
grouped under five heads
First, increasing by three the number
of grounds for deny ng the discharge OF
bankrupt, second, compelling vile 10
testify in bankruptcy proceedings regard
ing any transactions in which she TOOK
part; third increasing by from 40 to %
per cent. the fees allowed trustees and
referees; fourth. prohibiting the award
by the courts Of greater fees than those
allowed by the law: and fifth, modifying
the provisions as to preferred claims so
that a creditor who has. within four mont hs
prior to the assignment, received payment
from the bankrupt may prove the remainder
of his claim, without surrendering the pay
ment II the latter was made IN good IAN
The new law adds to the list OF those
who NAV be declared bankrupt, person
being insolvent applies for receiver or
trustee for his property, or because OF
insolvency a receiver or trustee mas heeh
put in charge OF his property, under me
laws Of State, or Territory or OF ine
United States" To the list OF corporations
who may 60 into bankruptcy is added those
engaged in mining.
TO the provisions relating to the discharge
of bankrupts are added four new grounds
for denying it-namely, obtaining properly
on credit, upon materially Iaise sla,e-
L., - f,,rf ha nt
ing such property on credit; within Tour
months prior TO the assignment. remoV-
ing. destroying concealing or transferring
propert with intent to hinder. delay or de-
fraud creditors where voluntary proceed
ings have been granted in bankruptcy
within six years and where in bankruptcy
proceedings the person has refused TO obey
any lawful order Of or to answer any ma
teral uucstio ion approved by the court
To the lie, Of debts not Affected by dis
charge from bankruptcy. the bill adds
these: .For wiliul and malicious injuries
TO the person or property Of another or
for amonv duo or to become due, or Tor
the IN Lnte'onse or for the support OF a
wife or child or fer seduction OF an un-
married female or for criminal conversa-
ton The Supreme Court. IN reoen,
OPINION held TINT Alirony was exempt, but
the conferees allowed the exemption TO
remain in be bill to prevent ground Tor
SUIT.
Section 81 is amended so "a to comT~l
the nprearanc, of the wife Of the bankrupt
IL proceedings in which business trans
acted bv her or TO which she is party, Ii
concerned, or 20 ursermine the fact whether
she has transacted or been party to any
business of the bankrupt.
Section % is amended so as to allow the
bringing Of suits in other courts than those
in which they could be brought by the
bankrupt himself This is to permit the
trial of cases in the Federal courts where
fraudulent preferences or transactions are
concerned. and which cannot now be done;
Section A. is amended 10 as TO require the
filing by the trustee OF a copy OF the adJudi-
cation In every county in which the bank
rupt owned real estate.
Some minor changes are also made in the
provisions for disbursing dividends OF
bankrupts: In the manner OF keeping bank
rupts indexes and dockets and others OF q
purely technical character.