Year: 1867

be entitled to allowance for his services in such


cases, on all moneys received and paid out by him


therein, Tor any sum not exceeding thousand dol


lars five per centum thereon: or any larger sum- not


exceeding five thousand dollars, two and half pei


centum on the excess five thousand dollars and


II, atany time there shall not be i'll his hands suf


clent amount of money to def,ay the necessary ex


penses required for the further execution Of his trust


he shall not be obliged to proceed therein until the


necessary funds advanced satisfactorily secured
to him. If, by accident mistake other cause, with
out fault of the ASST gnee, either both of the said
second and third meetings should not be held within
the times limited, the court may, upon motion of an
interested party, order such meetings, with like effect
as to the validity of the proceedings as if the meeting
had been duly held. In the order for dividend un
der this section the following claims shall be entitled
to priority or preference, and to be first paid in full
in the following order:


!. The fees, costs and expenses of suits and the
several proceedings in bankruptcy under this act, and
| for the custody of property, as herein provided
2. All debts due the United States and all taxes
and assessments under the laws thereof.


8. All debts due to the State in which the proceed


ngs IN bankruptcy are pending, and all taxes and as
sessments made under the laws of such State.
4. Wages due to any operative, clerk house ser
want, to amount not exceeding $50 labor per
formed within six months next preceding the first
publication Of the notice Of proceedings in bank
ruptcy.


5. All debts due to any person who by the laws of
the United States, may be entitled to priority
or preference, in like manner as if this act had not
been passed. Abcdys Prouidca, That nothing con
tanned in this act shall interfere with the assessment
and collection Of taxes by theautority Of the United
States or any State.


Section 30 provides for the full discharge of the
bankrupt six months alter compliance with the above
conditions, in entire honesty and good faith.


Section 80 declares that shall be entitled a
second time to the benefit of bankruptcy, whose estate
is insufficient to pay seventy per of his debts
unless upon the written assent of hreeour of bis
creditors in value.


Section 81 provides that any creditor opposing the
discharge of any bankrupt may file specification in
writing OF the grounds of his opposition and the
may, in its discretion, order any question of fact so
presented to be tried stated session of the dis
trct court.


Section 80, SO and 34 forbid the benefits of bank
ruptcy to one whose debts have accrued from their
failures when in fduciary capacity and provide for
the full and final discharge of the honest bankrupt
follows:


DISTRICT COURT OF THE UNITED SrArEs-DfsrRrcr
OF -. Whereas, - has been duly adiudged
bankrupt under the act of Congress establishing sys
TEN of bankruptcy throughout the United States and
appears to have conformed to all the requirements of
law in that behalf. 1t is therefore ordered by the
court that said - be forever discharged from all
debts and claims, which by said act made provca-
BILE against his estate and which existed on the
day of -, Oh which day the petition for adudicl-
ton was filed by Tor againsO him. excepting such
debts, if any are by said act excepted from the OPP
Grafton of a discharge in bankruptcy. Given under
my hand and the seal of the court at - in the
said district, this - day Of -, A. ID. --.


Sections So and 81 provide for the extension of the
acts of parties in partnership, and for the liability of
the same kind of property now obtains in ordinary
winding up Of partnership concerns


Section SO requires the due filing of all papers in
tIn. in n pf tha data ie,1
date of subject matter,


Section 39 40, Al and AZ provide that persons ab-
sent with intent to foresta the legal service of Just
and proved claims against them, are to have their
property proceeded upon at the demands Of creditors
who are to follow the same measures they would were
the bankruptcy upon voluntary application. III Which
service of due notice upon such debtor to appear
is to be made in the same way, either by personal
waiting upon publication, as is now pursued in civil
State actions, his non-appeerance within the time spe
CITED causing the claims to 60 against him by default
which atterward be remedied for cause shown.


Section 43 provides that if at any meeting Of the
creditors hreefourts of them shall resolve that it is
for their general interest that the estate be settled and


distribution made, it shall be lawful for them to SO re-
port the and nominate trustees administer
the estate under the direction of the committee The
court will confirm the resolution if it is deemed pro-
per, alter hearing the bankrupt and creditors and the
bankrupt, or his assgnees WILL under oath, convey
he property to the trustees whose powers will then
De equal to those of the bankrupt, had bankruptcy
oeen declared, and their action shall be binding on
my creditor whose debt is favorable whether or Lot
he has Joined in the application for the process, the
rustees having all the rights and powers of asSgnees
n bankruptcy. The court, on the application of |
rustee, is empowered to and examine the |
bankrupt and any creditor debtor hose exanina-
ion may be material in the case, and to compel the
production of books and documents. If the resolu |
ion shall not be duly reported the consent of the
lsfa,, shall, 11I II,1,
he court shall not think fit to approve thereof the
bankruptcy shall proceed if resolution had |
passed, and the may make all necessary orders
or resuming the proceedings. And the period Of
ime which shall have elapsed between the date of the
esouton and the date of the order for assuming pro-
eedings shall not be reckoncd in calculating periods
f time.


Section A provides that after the passage Of this
ct, if any debtor or bankrupt SHALL after the COM
lencement of proceedings in bankruptcy, conceal any
roperty belonging to his estate part WITH conceal
destroy, alter, muate or lasfy, any book or doc
ment relating thereto out Of the district or other
Use dispose Of any part, with intent to prevent it
rom coming into the possession Of the assignee in
ankruptcy, to hinder either of them in recovering
ne same, or make any payment gift conveyance Of
ny property belonging to his estate with the like in
2nt, Or spends anypart in gaming, he shall be deemed
uilty Of misdemeanor, and upon conviction thereof
any court of the United States, shall be punished
y imprisonment with without hard Labor for a
.rm not exceeding three years.


Sections 45, 46, At, 49, 40 and 80 provide for the
unishmcnt Of the officers of the court who act
ronglv with intention in bankruptcy proceedings /
ith fine not less than $500 more than $500 and
Imprisonment for less than five years. Also provides
le punishment for nlalfeasancc on the part of
Il persons who shall forge Or cause to be forged, or
nowingly allow the forgery Of any seal Or commits
on of either the judge register, or who shall be
nilty Of any criminal action or knowledge in the pro-
ocation Of any false commission or documents of
lnkruptcy in favor Of any parties. Also the same
hedue OF fees for legal services etc. is provided as
ow obtain in proceedings in the courts of the United
ates in other matters.
WHAT SHALL WE Do ?-The Guaohita Herald, un-
er the above head talks thus:


We believe there be no doubt as to the duty of
very good citizen, who has the right of suffrage un
er the reconstruction law of Congress, to hold him
If prepared to take part in the formation of a
ew State Government, provided for in that law,
zen though he is there required to"cast his ballot in
e same box with bis former slave. We can see no
ossibe good to arise from refusal to make such an
fort to comply with the behests of a Radical Con-
ress. 1t is not, however, with the least hope that
lch step will concate the Radicals, for they are
nyond the reach of hope,) but with the view of
'npincng the sober that of the South are
earnest in our desires for peace and harmony that
e would recommend compliance with the act Of
ongress, in so far as it provides ways and to