Year: 1867




always meted out to the calumniator and slanderer
| j. MADISON WELLS,


Governor of the State of Louisiana.
THE BANKRUPT LAW.


The bankrupt law being now (since the lst inst J
| in full operation, summary of its principal pro-
visions will be Of use. The act provides for vol
untary and involuntry bankruptcy, for the bank:
ruptcy of partnerships and of corporations, and
for the supercedure of the bankrupt proceedings
BY arrangement. Any person may voluntarily OBJ
ing $500, by applying by petition ITO the Judge
Of the Judicial District in which such person has
resided or carried on business for the six months
next Immediately preceding the time of filing such
petition, or for the longest period during such six
months, setting forth his place of residence his in
ability to pay all his debts in full, his willingness to
surrender all his estate and effects for the benefits
Of his creditors and his desire to obtain the bene-
fit of this act and he must annex to his petition
schedule verified by oath, before the court, OF
before Register in bankruptcy, or before one Of
the Commissioners of the Circuit Court of the .:
States, containing full and true statement of all
his debts, and, as far as possible, to whom due,
with place of residence of each creditor, if known
to the debtor, and if not known the fact to be SO
stated and the sum due to each creditor; also the
nature of each debt or demand, whether founded
on written security, Obligation contract, or other
wise, and also the true cause and consideration OF
such Indebtedness, in each case, and the place
where such Indebtedness accrued and statement
of any existing mortgage, pledge, lein, judgment
or collateral, or other security given for the pay
ment of the same; and shall also annex to his pc
tition an accurate inventory verified in like man.
ner, of all his estate both real and personal. ~
Notice of the proceedings must be given to all
creditors and the property is to be turned over to
an assignee for their benefit. There is excepted
hold and kitchen furniture, and such other articles
and necessaries of such bankrupt as the said as
signee shall designate and set apart, having refer.
ence in the amount to the family, condition and
circumstances of the bankrupt, but altogether not
to exceed in value, in any case, the sum of $500
and also the wearing apparel of the bankrupt, and
that of his wife and children, and the uniform,
arms, and equipments of any person who is or has
been soldier in the militia or in the service of the
United States; and such other property as now is,
or hereafter shall be, exempted from attachment
seizure, or levy on execution by the laws of the
United States, and such other property, not nclu.
ded in the foregoing exceptions, as is exempted
from levy and sale upon execution or other process
or order of any court by the laws of the State in
which the bankrupt has his domicile at the time
of the commencement of the proceedings in bank
ruptcy, to an amount not exceeding that allowed
by such State exemption laws in force in the year
1864"


Six months after the adjudication of bankrupt
cy, after publication in the newspapers, certif-
cate is given the bankrupt dischargng him for
ever from all his debts, existing at that time. Any
person owing debts may involuntarily be declared
bankrupt who shall depart from the State, Dis
trict or Territory of which he is an inhabitant,
l.. III 4. Ia, o1
sent shall, with such intent, remain absent; or
shall conceal himself to avoid the service of legal
process in any action for the recovery of debt or
demand provable under this Act; or shall conceal
or remove any Of his property to avoid its being
attached, taken, or sequestered on legal process
or shall make any assignment, gift, sale, convey
ance or transfer of his estate, property rights OF
credits, either within the United States or else
where, with intent to delay, defraud, or hinder his
creditors, or who has been arrested and held in
custody under or by virtue of any process OF exc
cution issued out Of any court or any State, dis
trict or Territory, within which such debtor re:
sides or has property, founded upon o demand
in its nature provable against bankrupt's estate
under this act and for sum exceeding one hun
dred dollars, and such process is remaining in
force and not discharged by payment, or in any
other manner provided by the law of such State,
district or Territory, applicable thereto, for pc
riod of seven days or has been actually imprison-
ed for more than seven days in a civil action,
founded on contract for the sum of one hundred
dollars or upward; or who, being bankrupt OF
insolvent, or in contemplation OF bankruptcy OF
insolvency, shall make any payment, gift, grant,
sale, conveyance, or transfer of money or other
property, estate, rights or credits, or give any
warrant to confess judgment, Or procure or suffer
his property to be taken on legal process, with
intent to give preference to one or more Of his
creditors or to any person or persons who are OF
may be liable tor him as indorsers, bail sureties,
or otherwise, or with the intent, by such disposi
ton of his property, to defeat or delay the opea
ton of this act; or who being banker, merchant
or trader, has fraudulently stopped or suspended
and not resumed payment of his commercial pa
per, within period of fourteen days" The du-
ties Of registers in bankruptcy are, TO make ad,
judication of bankruptcy to receive the surrender
of any bankrupt, to administer oaths in all pro.
ceedings before him, to hold and preside ct meet
ings of creditors, to take proof of debts to make
all computations of dividends and oil orders OF dis
trbution and to furnish the assignee with certi.
fed copy of such orders, and of the schedules Of
creditors and assets filed in eachcase, to audit and
pass accounts Of assignee, to grant protection, to
pass the last examination of any ban krup in cases
whenever the assignee or creditor do not oppose,
and to sit in chambers and dispatch there such
part of the administrative business of the Court
and such uncontested matters as shall be defined
in general rules and ORDERS or the District Judge
shall in any particular matter Direct and he shall
also make short memoranda of his proceedings in
each case in which he shall act, in docket to be
kept by Aim fer that purpose