Year: 1867

months next immediately preceding the time of
filing such petition, or for the longest period du
ring such six months, setting forth his place of
residence, his inability to pay all his debts in full
his Willingness TO surrender all his estate and e-
fects for the benefit of his creditors and his de-
tire to obtain the benefit of this act, and shall
annex to his petition schedule, verified by oath
before the court or before Il register in bank
ruptcy, or before one of the commissioners OF
the circuit court of:the United States, containing
full and true statement Of all his debts and as
far as possible, to whom due, with the place of
residence OF each creditor, if known to the debt
or, and if not known the fact to be so stated and
The sum due to each creditor; also, the nature of
each debt demand, whether founded on writ
ten security, obligation, contract or otherwise
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, lien, Judgment,
or collateral or other security given for the pay
ment OF the same; and shall also annex to his
petition accurate inventory, verified in like
manner, of all his estate both real and personal,
asSiynable under this act, describing the same
and stating where it is situated, and whether
there are any, and if So what membranes there
on, the filing of such petition shall be an act of
bauhruptcy and such petitioner shall be adiudg-
ed bankrupt: P,orided That all citizens of the
United States pctitonng to be declared bank
rupt shall, filing such petition, and before any
proceedings thereon, take and subscribe an oath
of ailrWiance and fidelity to the United States,
which oath shall be filed and recorded with the
proceedings il bankruptcy. And the Judge OF
the District Court, or if there be no opposing
party, any register of said court, to be dcsgna-
mated BY the Judge, shall forthwith, ii he be sat
isfed that the debts due from the petitioner cX-
cced three hundred dollars, issue warrant, to
be signed by such Judge or register, directed to
the marshal of said district, authorizing him
forthwith, Il messenger, to publish notices in
such newspapers the warrant specifies; to
serve written or printed notice, by mail per-
sonally on all creditors upon the schedule filed
with the debtors petition, or whose names may
be given to him liz addition by the debtor, and
to give such persons concerned as the warrant
specifies, which notice shall state:


First That IL warrant in bankruptcy has been
issued against tue estate of the debtor.


Second. That the payment OF any debts and the
delivery of any property belonging to such debt
or to him or for his use, and the transfer of any
property by him are forbidden by law.


Third. That meeting of the creditors of the
debtor, giving the names, residences, and
amounts, so far as known, to prove their debts
and choose one or more assignecs of his estate,
will be held at a court of bankruptcy. TO be hol-
den at time and place designated in the warrant,
not less than ten nor more than ninety days af-
ter the Issuing of the same.


OF ASSIGNMENTS AND AssIGNEEs.


SEC. II. ind be it tin Her enacted, That at the
meeting held in pursuance OF the notice, one of
the registers Of the court shall preside, and the
messenger shall make return of the warrant and
OF his dOings thereon; and if it appears that The
notice to the creditors has not been given as re-
Quired in the warrant, the meeting shall forth
with be adjourned, and Il new notice given as
required. If the debtor dies after the issuing of
the warrant, the proceedings may be continued
and concluded in like manner as if he had lived.


SEC. Is. and be IT. FURTHER enacted, That the cred
itOrs SHALL at the next meeting held alter due no.
tice from the messenger, in presence OF register
designated by the court, choose one or more as.
signces of the estate of the debtor; the choice
to be made by the greater part in value and in
DIyrnhrr a "a rcd cd hpir
debts If no choice is made by the creditors at
said meeting, the Judge, or if there be no oppo-
sing interest, the register, shall appoint one or
more assiwnces. If an assignee, so chosen or ap-
pointed, fails within five days to express in wri-
ting his acceptance Of the trust, the Judge reg
lister may fill the vacancy. All elections or ap
pOintments of aSsignees shall be subject to the
approval OF the Judge; and when in his judy
ment il is, for any cause needful or eXpedent, he
may appoint additional assignces, or order a new
election. The judge at any time may, and upon
the request in writing OF any creditor who has
proved his claim shall reOuiKs the assignee to
give good and sufficient bond to the United States,
with a condition for the faithful performance and
discharge of his duties; the bond shall be ap-
proved by the judge or register by his endorse
mCnt thereon, shall be filed with the record of
the case and nurc to the benefit of all creditors
proving their claims. and may be prosecuted in
the name and for the benefit of any injured party.
If the assignee fails to give the bond within such
time as the Judge orders, not exceeding ten days
after notice to him of such order the Judge shall
remove him and appoint another in his place.


Sec. A. And be it. further enacted, That soon
as said assignee is appointed and qualified, the
judge, or where there Is no opposing interest the
register, shall, by an instrument under his hand,
assign and convey to the assignee all the estate,
real and personal, of the bankrupt, with all his
deeds, books and papers relating thereto, and
such assignment shall relate back to the COM
menccmcnt of said proceedings in bankruptcy,
and thercunto by operation of law, the title to all
such property and estate, both real and personal,
Shall vest in said assignee, although the same is
then attached on mesne process as the property
of the debtor, and shall dissolve any such attach
mcnt made within four months next preceding
the commencement OF said proceedings: H'OOided,
hO:cerer, That there shall be excepted from the
opers ton Of the provisions of this section the ne
ctssary household and kitchen furniture, and such
other articles and necessaries of such bankrupt
the said assignee shall designate and set apart,
having reference 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 five hundred dollars; and also the
wearing apparel of such bankrupt, and that of
his wife and children, and the uniform, arms and
equipments OF any person who is or has been a
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 attach
ment, or seizure, or levy execution by the
laws of the United States and such other proper
ty not included 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





at the time of the commencement of the proceed
ings in bankruptcy, to an amount not exceeding
that allowed by such State exemption laws in
force in the year eighteen hundred and sixty
four: P'orided, That the foregoing exception
shall operate as q limitation upon the conveyance
Of the property of the bankrupt to his assignees;
and in no case shall the property excepted pass to
the assgnees, or the title of the bankrupt thereto
be impaired or affected by any of the provisions
of this act; and the determination of the assignee
in the matter SHALL on exception taken, be sub
ject to the final decision of the said court: Ana
pyovided further, That no mortgage OF any vessel
or of any other goods or chattels, made secu-
rity for any debt or debts, in good faith and for
present considerations and otherwise Valid and
duly recorded, pursuant to any statute of the
United States, or Of any State, shall be invalida-
ted or affected hereby; and all the property con-
veyed by the bankrupt in fraud of his creditors
all rights in equity, chooses in action, patents and
patent rights and copyrights; all debts due him,
or any person for hi USE and all liens and sccuri-
ties therefor; and all his rights of action for pro-
perty or estate real personal and for any cause
of action which the bankrupt had against any per-
son arising from contract from the unlawful
taking or detention or of injury to the property
of the bankrupt and all his rights of redeemng
such property or estate, with the like right, title
power and authority to sell, manage, dispose OF,
sue for and recover or defend the same, the
bankrupt might or could have had if no assign
ment had been made, SHALL in virtue of the adju-
dication of bankruptcy and the appointment OF
his assignee be at once vested in such assignee
and he may sue for aud recover the said estate,
debts and effects and may prosecute and defend