Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-08-27
Ian
REFORM DEMANDED
Lawyers Go on Record in Favor
of More Definite Definition
Of Insolvency
OPERATIONS ARE DETRIMENTAL
Present Law Sometimes Gives Debtors
the Advantage-Laws Also Favored
Regulating the Comforting Of Degrees
by Colleges = Recommendations of
Committees.
Committees.

Portland, Me-, Aug. 27.-The proceed
ings Of the American Bar Association
which is holding its annual conVen-
ton here, We're devoted today to hear
ing reports of committees and to con-
sideration Of the same. Among the inn
portant reports was that OF the COM
mittee on commercial law.
The most important was the report
on the insurance law, which was pre-
pared by special order at the last
annual convention, which already mas
been published. and widely commented
on thruout the country.
Several amendments to ohe presen.
bankruptcy law including an enlarge
ment of the definition of insolvency
and recommendation that the asso-
citation approve both the uniform sales
act and the uniform warehouse receipts
act. were included in the report or une
committee on commercial Jaw. Inc
changes in the bankruptcy law adVo-
Gated by the report are made under the
heads: In the statutory definition ana
proof of insolvency in fact; in the
enumeration of acts OF bankruptcy, ana
in respect to the person or persons
qualified to make affidavit to a petitloh
in involuntary bankruptcy The report
says:
"The present restricted statutory
definition of insolvency has been much
criticized and is certainly practically
emharra ssing in matter of proof. 1t rs
said to protect a debtor whose properly
is not quickly convertible but on the
other hand it may operate 10 pu'
creditors at the debtors mercy. Inc
committee believe that the dennltloh VI
in fact should Nbe enlafseo,
and that the statute should provide that
insolvency may be further proven oy
any one of the three following circufn-
stances, viz: by return of nulla bona
to a, writ of fieri facias; by proof or IN
ability to pay debts in the due course
of business as they mature. linis 70
be limited to commercial classes)' ny
the appointment Of a receiver 1or a GU
partnership or corporation Whlcn IS IN
solvent And the committee further
recommended that the enumeration ol
acts Of bankruptcy be modified or en-
Iarsed so as to coincide with the new
defnitions of insolvency in fact. Inc
committee further recommended an
amendment to the statute so tnat ~
NAV provide that the affidavit TO pe-
tition in involuntary bankruptcy may
he made by petitioning creditors or oy
of .
an consideration Of the great I'M
nortance Of uniformity in the law OF
sales and the law of warehouse re-
ceipts. The committee recommend tne
approval by the association OIL poth
the uniform sales act and the UNIFORM
warehouse receipts act, and that a spe-
cia, committee or special committees
of the association be appointed to Sc
cure their passage by the legislatures
of those states which have not al
ready adopted them including their
abortion by congress for the District
of Columbia. The committee sug-
gest however, that the bill concerning
warehouse receipts might be improved
in one particular, that is by making
If more definitely protect the rights or
the transferee of finder of a ware
house receipt, and that the attention
of the commissioners on uniform state
laws should be called to this matter.
AS now drafted the transferee II
fraudulent holder is definitely pro-
tected, but protection is. not extended
to the transferee of finder, and there
is thus possible diminution OF ne
gotiability resulting in the necessity OF
proving by a holder that he Is en-
titled to hold the receipt. The commit
tee do not intend this suggestion to
be a limitation of approval OF the Dill
in question. but recommend the en-
forcement of both laws in their en-
tirety."
REGULATION Of conferrins Of Degrees.
The report of the committee on legal
education and admissions to the bar
containing many recommendations In
the direction of regulating the con-
ferring Of law degrees. They include
one urging the adoption in each state
and territory and in the District of
Columbia. of a uniform law on the
subject of law degrees. In this con-
nection the committee presented an
outline of an act which would pro-
vide that the degree of bachelor OF
laws and bachelor of civil law may be
conferred by an institution which
maintains a course of law for under
graduates, which course extends over
three academic years of at least eight
months in each year, providing the In
stitution requires of applicants for ad-
mission to its classes an education
equivalent to that possessed by one
who has completed a course required
for graduation from high school and,
in addition requires candidates for
such degrees to carry at least ten
hours of classroom work week thru
out each academic year in that in
stitution or in some other institution
qualified to grant such degrees.
DistiIIery for South Sioux City.
Special to Tines- Republican.
Sioux City. Aug. 27.-Papers of in
corporation have been filed for new