Newspaper of The New York Herald, March 5, 1867, Page 4

Newspaper of The New York Herald dated March 5, 1867 Page 4
Text content (automatically generated)

GENERAL EANEEffPT LATT. Ite!i<*f for Old ?ud New Bankrupts. Provisions for Voluntary and Invol untary Bankruptcy. PROFERTV - EXEMPTED UNDER THE ACT. ftc. fte. fte. *The following Is the ten of the very important Bank rupt bill agreed upon by the Conference Committees and adopted by each house of Congress. The President haa pignod it, and tho bill Is therefore now a law of the land: ? ax aot to on a Bus!) a umroRM stshx or bakksuttot THROUGHOUT 1BI L'XITLD STATU. Be it enartxl by the Senate and House of Representa tive or the United States of America In Congress assem bled, That the several district courts of tbe United States be, and they hereby are, constituted courts of bank ruptcy, and thev ahull have original Jurisdiction in their respective districts in all matters and proceedings in bankruptcy, and they are horeby authorized to hear and adjudicate upon the same according to the provisions of this act. The ?aid courts shall be always open for the transaction of business under this act, and the powers and jurisdiction hereby granted and conferred shall lie exercised as woll In vacation as in term lime, and u Judge silting at rhambers shall have the same powers and jurisdiction, including the po>ver of keepiug order aud t>f punishing uny coutempt of his authority, as when sitting iu lourt. And the Jurisdiction hereby confer red shall extend to all cases and controversies arising between the bankrupt and any creditor or creditors who shall claim any doot or d 'tnand under the bankruptcy; to the collection of all the assets of the bankrupt; to the ascertainment and liquidation of the linns und other spe cific olalins thereon; to the adjustment of the various priorities and conflicting interests of all parties; and to tho mar-haling and disposition of the different funds aud assets, so as to secure tho rights of all parties and due distribution of the assets among all the creditors; and to all acts, mutters and things to be done under and in vir tue or iho bankruptcy, until the final distribution and settlement of tho estate of the bankrupt, and tho closo of the proceedings in bankruptcy. Tno said courts shall hav.- full authority to compel obedience to all orders and decrees passed by them in bankruptcy, by process of cool em | it und other remedial process, to tho same extent that the circuit courts now have in any suit pending tber> in in equity. Said courts may sit for thetransaction ot business in bankruptcy at any place in the district, of which place, and the time of holding court, they shall have gn en notice, as well as at the places designated by law for holding such courts. See. "J And be it further enacted; That the several circuit courts of tbe Unitod States, within and for the districts whero the proceedings la bankruptcy shall be pending, shall have a geueral superintendence and Juris* diction of all cases and questions arising under this act; and, except when special provision is otherwise made, may, upon bill, petition, or other proper procoss, of any party aggrieved, hear and determine the case as a Court of Equity. The powers and Jurisdiction hereby granted may be exercised either by said court or by any justice thereof in term time or vacation. Said circuit courts ahall aleo have concurrent jurisdiction with .the district courts of tbe same district of all s :lts at law or in ?qaiiy which may or shall be brought by the assignee in bankruptcy against any person claiming an adverse interest, or by such person against such a-sl.'neo, touch log any property or rights of property of said bankrupt transferable to or vented in such assignee; but no suit at law or in equity shall In any case be maintainable by or against pueh assignee, or by or against any person olainiing an adverse interest, touching the property and rights of property aforesaid, In any court whatsoever, unless tb? same shall be brought witbin two years from the time iho cause of action accrued, (or or against such assignee; provided, that nothing herein contained shall revive a right oi action barred at the time such assignee is appointed. 01 TRI ADXITOTRATIOff OF TUB LAW IH COURTS OF BANK HUPTCT Skc. 3. And be it further enacted, That it shall be the duty of the Judge* of (lie District Courts of the Unitod States, within and for the several districts, to appoint in each Congressional district In said districts, upon the nomination and recommendation of the Chief Justice of the Supreme Court of the United Stale*, one or more register* in bankruptcy, to assist the Judgs of the I)is tnct Court in the performance of his duties under this act. No person shall be eligible to such appointment unless be be a counsellor of said court, or of so mo one of Ute Courts of Record of the State in which he resides. Before entering upon the duties of his ottice. every per son so appoiiited a register in bankruptcy shall give a bond to tne United States, with condition that he will faithfully discharge the duties of his office, in a sum not less than $1,000, to be fixed by said court, Willi sureties satisfactory to said conrt, or to either of the paid justice* thereof; and lis shall, In open court, take and sntmeribe the oath prescribed in the act entitled "An act to pre scribe an oath of office. and for other purposes." ap proved July 2, 1S62, and also that he will not during b s continuance in office be, directly or Indirectly, inter ested in or benefitted by the fees or emoluments arising from any suit or matter pending in bankruptcy, In either the district or circuit court in his district. 8bc 4 And be it further enacted, that every register in bankruptcy, so appointed aud qualified, shall have power, and it shall be his duty, to make adjudication of bankruptcy, to receice the surrender of any bank rupt. to s'lmiulster oaths in all proceedings before him, to hold aud preside at meetings of creditors, to take proof of debts, to make all computations of dividends, and all orders of distribution, and to furnish the assignee with a certified copy of such orders, and of the schedules of creditors and assets filed in each cave, to audit and pass accounts of assignees, to grant pro tection, to pass the last examination of any bankrupt In cases whenever the assignee or a ere llior do not oppose, and to sit in chambers ami despatch there sti h port of the sdministrative business of the court and such uncontested matters as shall be defined in general rules and orders, or as the District Judge shall In any par ticular matter direct; and he shall also make short memo randa of his proooedings iu each case in which h' shall act, iu a docket to be kept by him for that purpose, aud he shall forthwith, as the proceedings are taken, forward to the Clerk of the District Court a certified copy of said memoranda, which shall be entered by said clerk in the proper minute book to be kept in his office, and any register of the court may act for any Other register thereof- Provided, however, that nothing i% this section contaiued shall empower a register to com mit for contempt, or to hear n disputed a ( judication, or any question of the allowance or suspension or an order or discharge; but In all matters where an issue of fact or of law is raised and contested by any party to the pro ceedings before him, it shall be his doty to cause the question or issue to be stated by the opposing parties In writing, aud he shall adjourn the same Into court for decision by the Judge. No register shall be of counsel or attorney, e.ther in or out of court, in any Bait or matter pending in oankruptcy in either tho Circuit or District Court of his district, or in an appeal there; nun; nor shall he lie executor, administrator, guardian, com missioner, appra ser, didder or a?sijnee of or ui>on any estate within the Jur sdiction of either of said courts of bankruptcy, nor t>? interested in the lees or emoluments arising from either of said trusts. The fees of said rogmterK, as established by this act, and by the general rules aud orders required to be framed tinder It, glial! be paid to them by the parties for whom the services may be rendered In the course of proceedings authorized by this 9' <? f?nr S And be It farther enacted, That the Judge of llie District Court may d rect a register to attend at any place within the district tor th? purpose of hearing such voluntarv applications under this act as may not be op posed, ol attending any meeting of creditors, or reviv ing any proofs of debts, and, g nerally, for tne prosecu tion of anjr bankruptcy or other proceedings under this or:; sud the travelling ivpd incidcgral ejnentos ol stj h Register, and of any otef* or other WBcer attending him. incurred in so acting, shall be settled by said court In aooorduce with the rules prescribed under the tenth section Of this act, and psld out of the assets o| the estate in reaped of which such register has so acted; or if there i>? no such assets, or If the assets shall be in sufficient, then such expenses shall form a part of tho c Mts in the case or cams In which the register shall ha e acted in such journey, to be apportioned by the Judge, .ud such register, so acting, shall havs and oxer cis< all powers, except tne power of commitment, ve ted in ins District t ourf for the summoning and examina tion of persons or witnesses, and for requiring the pro duction of books, papers and documents. Provided alwayt, tnat all depositions of persons and iHtoeresa taken Were said register, and all acts done by him, shall be reduced to writing, and be signed by biro, nnd shall be filed in the clerk's ofllco as part of the proceed ings. fuel tegi-tcr shall be subject to removal hr the Judge o; the District Court, and all vacancies occurring by such removal, or by resignation, change of residence, death or disability, shall be promptly filled by other Ot persons, aniens said court shall ducui'iho i oatiuujnce of the ptnicaUr offirj 'lutifcotaary. Sac ? And i>e it further enacted, That any pertjr shall, during the pro eediags before a Register, be at llqerty to take the opinion of the District Judge upon any point or matter arising in the course of such proceedings, or upon the result .,f suoh proceedings, which shall be stated by the Register Iin, the shape of a snort certificate to the Judjre who sliail sign the same If be approve thereof: and such certifiers, so signed, shall be binding on all the jinnies to the proceeding, but every such ce? tifh-ate may 1* discharged or tar.ed by the Jud>;e at chambers or in open court. In any t*nkruptry or in any other proceedings within the jurisdiction'of -he court, nnder this act, the jiartles concerned, or submit ting to such Jurisdiction, may at any stage of tie pro. ceedlng*. by consent, state any quesiioo or queqi. n* m a special CMS for the opinion ot the Court arid the judg ment 01 the <;ourt shall be final, unless It he sgre< i *a j s'ated iu such sjieeial case Mist either party may app< *|, If, In soeli case, an opjieal is allowed by tlds act, Tb# parties may also, iflwey think fit. agree, that upon tl.e question or questions raised l?y sticli special case t* ng flu.tily ilmiOil a sum of money, fixed hy tlie pat ies. or to lie ascertained by Uie Conrt, or in inch uwnnt r u (ho Cow ra;ir direct, or tnjr or the amount of any disputed <1. VI or claim, ah til he jwld, delivered or trans ferred bf (me of such parties to the other of thsin eiiUer wltb hr \?tthont coats. S"fc. 1 And be It further MMrtM, Thtg p*rtl?' sal wiines?es summond before a Kegi- t?r shall o# tiouiid to atieiid In p :msnce of sach aamwtfi at ?he fOefe u l time d" ignated therein, snd shall be entitled 10 pro c Hii. and he liable to pro??M of evutetapi in iik. tn <ief f irties and witHW*" *re ?writable th r-ro In oi .o.oiit In attendance on ler at.)'win oi na, en 1 ill pcrsoM wllifBtlf *??d oorroptlv pa rg ?.i iduavir before ? ilsc.staf ?L?:i Lit ? . ki ait t'ie penal? lea, puuU!im Et# aud coiioeqti-nces of perjury. I if uy (ximl)Kid Mwj tNtbitrihtll refuse <>r decline tn aii-wer, or to swi-ar to or slyn his examinati n when takes the register kIihI) refer ilie matter tu the judga, *ho caail ? puw r u> order the person so act itig iu pny ti n cimiB tiiurfby occasioned. If such person bo compellable by law to unawer such question or to .-.nn Mich examination, and such poison shall ?usu be liable to be puui&hed Tor contempt. PI Al*r" *I-i AJiD rRACTI'-a. Bsc. 8. And be it further onac'.ed, 1'hat appeal* raav be taken irorn tue District to tbe Circuit Court* in all cuees \n e<iuitjr, aud writ* or error may be allowed to raid Circuit Courts from raid District Courts in cases at law uuder the jurisdiction created by this act when the debt or damages claimed amount to mure than $003, and any uuppoeed creditor, whoso claim is wholly or in part rejected, or an assignee who is dissatisfied witb the allowance of a claim, may appeal from the decision or the District Court to the Circuit Court lor the same district; bat no appeal shall be allowed in any case from the District to the Circuit Court unl ss it is claimed, and notice given thereof to the Clerk of the District Court, to be entered with the record of the proceedings, aud aiso to the aaaignee or creditor, a* the cu.se may be, or to the defeated party in equity, within ten days af:er the entry of the decree or decision appealed from. The appeal shall be entered at the term o( the Circuit Court which shall be first held within and for tho district next after the expiration of ten days from tbe time of claim ing the same. But ir the appellant in writing waives his appeal before any decision thereon proceedings may be had In tbe Dim net Court ao if no appeal had been taken, and no appeal shall be allowed unices the appel lant at the tlmo of claiming tbe same shall give bond in manner now required by law in cases of audb appeals. No writ of error shall be allowed unless the party claim ing it shall comply with the statutes regulating the granting of such writs. Skc. 0. And t? it further enacted, That In cases arising nnder this act no appeal or writ of error shall be allowed in any case from the Circuit Courts to the Supreme Courts of tbe United States, unless the matter in dispute In such case shall oxceed $2,000. Sco. 10. And be it further enacted, That the Justices of the Supreme Court of the United States, subject to the provisions of this act, shall frame general orders for the following purposes:? For regulating the practice and prooedure of tho Dis trict Courts in bankruptcy, and tbe several forms of peti tions. orders and other pioceedings to be used in said courts in all matters undurthls act; For regulating tbe dutiee of.tbe various officers of said courta; For regulating the fees payable and the charges and costs to be allowed, except such a* are established by this act or by law, with respect to all proceedings in bankruptcy before said courts, not exceeding tbe rute of lees now allowod by law forfsimilar services in other proceedings; For regulating the practice and procedure upon ap peals; For regulating the filing, custody and inspection of records; And generally for carrying the' provisions of this act into effect. After such general orders shall have been so framed, they or any of them may be rescinded or varied, and other general orders may be framed in manner afore said; and ull such general orders so framed shall from tune to time be reported to Congress, with such sugges tions an said justices may think proper. VOLCSTART IUKKRUPTCT? COMHWKMRMT OF PROCEEDINGS. Sri. 11. And be it lurther enacted, That if any person residing within the jurisdiction of tbe United States, owing debts provabie under this act exceeding the amount of $300, shall apply by petition addressed to the judge of the judicial district in which such debtor has resided or carried on busine-s for the six months next imntodiately preceding tho timo of tiling suoh petition, or for the longest period during such six months, setting forth his place of residence, his inability to pay all his debts in full, bis willingness to surrender all his estate and effect.-! for tbe benefit of his creditors and his desire to obtain the benefit of this act, and shall annex to his I petition a schedule, verified by oath before the court, or before a register in bankruptcy, or before one of tho commissioners of the Circuit Court of the United States, containing a full and true statement of all his dobts, and. as far as possible, to whom due, with tbe place of residence of such creditor, If known to the debtor, and if not known the fact to be so stated, and the sum dse to such creditor; also the nature of each debt or demand, wbetber founded on written security, obll^a j?5..??'rtyt ?I otherwise' and ?'so the trno cause and consideration of such indebtedness In each case and ihe place where such Indebtedness accrued, andT^meu t of any existing mortgage, pledge. Ilea, Judgment or security given for the payment of th? same, and shall also annex to nU petition an accurate ?1??^ V^.ilJ<^ ln manner, ?r a" iiis estate, both real and personal, assignable under this act, describing ih rS""18' 1111 8ta!insr where it is situated, and whether there are any, aad if so, what incumbrances thereon tho filing or such petition shall be an act of bankruptcy 'and such petitioner shall be adjudged a bankrupt. Provided !i? i?raJrf f1;?08 of .the 1 n,u><1 states petitioning to be declared bankrupt shall, on tiling such petition and ?fr,aMy "roce('<,in8? hereon, take Md tt rt be m * i,a ,.egJ*n?c,# and Hdeiity to the United States which oath shall be filed and recorded with the nroeeert in .-a t^erotann ??And thaJU(18c t,la District Court, o? tf there be no opposing party, any reaisier of mM satwu!!dnfhtt uy ^'i Bha" forthwith. If ho' be debts due from tho petitioner exceed a writfen or printed notice, by mall or.personally on all creditors upon the schedule filed wUh The ^enSn^ f?titlon,or whose names may Z g en ,o Zm m ?ddiilon.by um debtor, and to give such person?'^ other notice to any persons concerned fa the warrant specifies, which notice shall state:? ?That a warrant in bonkruDtcv has been i?,IA^ against the estate of the debtor P 7 ia,ue<l Second?That the payment of any debts and tho do. sS&S&'Z&avzzvss * m6*t,n* cf U?e creditors of lb? debtor giwng the names, residences and amounts so far aa known, to prove their debts and cbooaa oie nr Tp^lHo^r'i^td *?a?5r? ~ 10 O^/SSUl-.MKKTS A7fD ASSIUXBW sec. iz. Ana bo it further eoacled That At thA m?n? ing, held In pursuance of the notice one or th? m tors of the court snail preside, MdlS. meMen?r s'hin mike return of the warrant and of his doings theiwn ? i appears that tho nutice to the creditor, bus not S55ST\- re?uired ,u ??? warrant, tt.e mwlng.h.? forthwith be adjourned, and a new notim reii^he Jnr^C *** mft0r ,ho 2?^e^SS?2X taS iibv?edcom,nucd and conc,uded .J*1^ 13\ Aud 66 il further enacted. That the credit?, , at tho first meeting hold alter due notice from the nicstenger, in presence or a register designatedb, thI jsrxy gSrsamwjsisiMf If an aasiguee, so chosen or appointed, fails within tw^L days to express in writing his alxept^'ce of The trn7t the judge or renter may fill the vacancy All efeet^n.' or appointments or a^iguecs shall be /ubje?to!h?'r! provai or tho judge; and when In bis Jadimsw lu? r? any cause needlul or expedient, be may u idd7 sstsssna ss ?oTynar. *s? ?r shfnM 'to 1b# hM pr?V"d h" cln"n- ,ha11- squire tbe*M^ J*? 10 K,v'8??1 and sufflc.ent bond to tho tinitS rrrm trv'i SMrizsBiKasias ^"e as ll e0.^ Sn0C. ,t0g'V8 ll,e boBd wUhin ?"ch " 1,18 Jud* orders, not exceeding ten davs altar &.?*? ssaM-ia-ysss. S.WwiX^?pn^S3fTO'JS! srz ? ?SSL'S' r ASPAtsi *'?ee' although the same is t hen attached on m-n.prxw as the property of the debtor MdshZn di.-.* I\e any stieb attachment made within four months neu prvcediQg the commencement of said proceedings - provided, however, that there shall be exeemed frSL MrV'howt'hold ?n7"kil'htm,r0<' ,h" "?ction lh* n^es "j?10*?, or .,b* Iwnkrupt. but aitoirether not exceed in vslue. In any ca?e, tbe sum of $600- and also U? wearing .pparel of such bsnTruDtiak that of ^?rm-en,*nnrCL"dr"n' 'U^^i^Snd eqilpmeots of any person who Is or has been a sol dkr in tho miiitia or in the ftprvifA of ik? p_itA<t State-an,, such other prop. rTy ? shall be exempted from attachment or iMmTk? OBi ex cullon by tbe Isws of the United Htau*. and such other property not Inrluded In the fwM?/ .,?. lions as is exempted from levy and salo hmd hmuZ or oilier process or order of court by UMMawJ^f th! r1r:?,:b.,ch u,# hankru',t hM bi. domidr. time of the . omniencement of tbe prnreediuff* In hank r-iptey, to nn amount not e,cP^i?g "S.t i?ow" oil by such flute exemption laws In r?n. y? provided that the 'foreS except icn shall oj>eraie as a limitation tim.n ! ?h? conreyanos or tbe property or the hanirro^ to his assignenw; and la n* rase shall the property her? by ex, eptod past to th. assignees, or thWKTlt Z b.itikrunt iberolo be Impaired or affected by any of the provisions of this a< t; itid the determination of tho as s'gneen in the matter shall, on cxcoptioa taken be sub Ject to the ilnal decision of tbe said oourt And nro v led fnrt lier, tliitt no niortv??re of any ve**] or of any other good-i or chattels, made as serjr.ty for anv debt or debts, In good faith nnd for r^went conslj. nitlons anrt othywls* valid, and duly recorded, pnrsnnnt to atir statiilo of the I'nltod Mates, or of any State, shall he iii *?lidaie<i or* lert d hereby; and all the property convev , "T hsnkrupt in frsud or bi? cruditora; all rights m yi'ilty, ehoeei in a<"tl(?. patent* and patent righta ?i<i eo|iyrUh's: nil debts due htrn. or any person for j-?<???, *n<) .ill l;en* and serurlllo* therefor; and all ri.h?s ut ?. tt ,n tot proiwrty or e? ale. real or rent i I *r"1 f"r *** csuse of action vUM the bank from thf * any t enson anting from eontrect or tin V. ,'V . W,nl or detention, ir of Injury to deem ? 2" '"SNKr^ipt, and all Lis right* of re ti e , 4 ' } r ^r,r "I" "?at?. with the like right, . u- w. r ^ i ? ^ - . manage, di*|>nat> of. <1 Hie same, n* the hankrupi J fc, , | in VI,,., j ' ^'n,n n",*d 1 the it ,o-i t, . ;,Hr"'|nn "f benkrui<tey lin?i i Midi as. j ?e ti H K? '* ?k- r.t on-e Veiled in I MM* WSmmS All suits at law or in equity, tending at the time of the a'judlcnt on of l>ankrii|>tcy, in which such bankrupt is a parly m til* own name, iii the bume manner and with the like effiet a.* they ini^bt have been pr"*ccuted or defeuUcd by ?uch bankrupt; and a copy, duly certided by ihe clerk oi the court, under the seal tberoui, of the aseigi ment made bv tho judge or register, as the ra.-e may l>e, to him as assignee, shall be oon clusi o evidence of his title oh such assignee to take, bold, sin' for and recover the property of the bankrupt, its bore nbeforo moulionod; but uo property held by the bankrupt id trust (hall pass by such assignment. No person shall be entitled to maintalu an action agamet an assignee in bankruptcy for anything done by blm as such assignee without previously giving blm twenty days' no tice of such action, specifying the cause thereof, to the end that such asmgnoe may have an opportunity of ten dering amends, should he see fli to do so. No person nbaJi be entitled, as against the sssiguee, to wlthnold from bim possession of any books of account of the bank rupt, or etui in any lien thereon; and nu suit in which the assignee Is a party shall be abated by his death or re moval from office, but tbe same may be proaocuted and defended by his successor, or by tbe surviving or remain ing assignee, as tbe case may be. The assignee shall have authority, under the order and direction of the court, to redeem or discharge any mortgage or condi tional contract, or plodge or deposit, or Tien upon any property, real or personal, whenever payable, and to ten der due performance of the condition thereof, or to sell the same subject to such mortgage, lien or other in cumbrances. Tbe debtor shall also, at tbe request of tbe assignee and at tbe expense of tbe estate, make and exe cute any instruments, deeds and writings which may be proper to enable the assignee to possess himself fully of all the assets of the bankrupt The assignee Rhall imme diately give nolioe of his appointment, by publication at least once a week for three successive weeks in such newspaper* as shall for that purpose be designated by tbe court, due regard being hod to their general circula tion in the district or in that portion of tbe district in which tbe bankrupt and his creditors shall reside, and shall, within six months, causA the assignment to bim to be recorded in overy registry of deeds or othor office within the United States where a conveyance of any lands owned by the bankrupt ought by law to bo record ed; and tbe record of such assignment, oraduly certified copy thereof, shall be evidence thereof in all courts. Hkc 15. And be It further onacted, That tbe assignee shall demand and receive from any and all persons hold ing tbe same all tbe estate assigned, or Intended to !>e assigned, under the provisions of this act; and be shall sell all such unencumbered estate, real and personal, which comes to his bands, on such terms as be thinks most for the interest of the creditors; but upon petition of any person interested, and for cause Bhown. tbe court mny make such order concerning the time, place and manner of sale as will, In Its oplniou, prove to tbe in terest of tbe crediiors; and tbe assignee shall keep a regular account of all money received by him as assignee, to which every oredltor shall, at reasonable times, have free resort. Sir. 10. And be It further enacted. That the assignee shall have the like remedy to recover all said estate, debts and effects in his own name, as the debtor might have had If the decree in bankruptcy bad not been ren dered and no assignment bad been miule. If, at tne time of the commencement of proceedings in bankruptcy, an action is pending In the name of the debtor for tbe re covery or a debt or other thing which might or ought to pass to ibo assignee by tbe assignment, the assignoe shall, if be roquiros it, be admitted to prosecute the action In his own name, In like manner and w ith like effect as if it had been originally commenced by him. No suit pending in the name of the assignee shall be abated by bis death or removal; but upon the moilon of tho surviving or remaining or new assignee, as the case may be, he shall be admitted to prosecute the suit In like manner and with like effect a* if it had been originally commencd by blm. In suits prosecuted by the assignee a certified copy of tbe assignment made to him by the judge or register shall be conclusive evidence of his authority to sue. 8sc. 17. And be it further enacted. That tbe assignee shall, as soon as may be after receiving any money be longing to the estate, deposit tbe same in some bank in his name as assignee, or otherwise keep It distinct and apart from all other money In his possession; and shall, as far as practicable, keep all goods and effects belong ing to the estate separato and apart from all other goods in bis possession, or designated by appropriate marks, so that they may be easily and clearly distinguished, and may not be exposed or liable to be taken as his property or for tiis payment of bis debts. Wben it appears that the distribution of tbe osiate may be delayed by litiga tion or other cause, the court may dirct tbe tem porary investment of the money belonging to such estate in securities to be approved by the judge or a register of said court, or may autbor.ze tho same to be deposited In any convenient bank upon inch Interest not exceeding the legal rate, as the bank may contract with the assignee to pay thereon. He shall give written notice to all known crod tors, by mail or otherwise, of all dividends, and such notice of meetings, arter the first as may be ordered by the court. He shall bo allowed* and may retain out of money in hla bands, all the neces sary disbursements made by him in the discharge of his duty, and a reasonable compensation for hla services, in the discretion of the court He may, under the direction of tha court, submit any controversy arising in the set tlement of demands against the estate, or of debts due to It to the determination of arbitrators, to be ohosen by hiin and the other party to tho controversy, and may. under such direction, compound and settle any such con troversy, by agreement with the other party, aa he thinks proper and most for the interest of the creditors. Sec. 18. And be it further enacted. That the conrt after due notice and hearing, may remove an assignee for any cause which. In the Judgment or the court, ren der suoh removal necessary or expedient. At a meeting called by order of the court in its discretion for the pur pose, or which shall be called upon the application of a I majority of the creditors lb number and value, the cred- I itors may, with consent ol the court, remove any as- I signee by such a vote as is hereinbefore provided for the I choice of assignee. An assignee may, with the consent I of the Judge, resign bis trust and be discharged there from. Vacancies caused by death or otherwise In the I office of assignee may be filled by appointment of the I court, or at its discretion by an election by the creditors I in the manner hereinbefore provided, at a regular meet- I Njj ? ? ? meeting called for the purpose, with such notice thereof In writing to all known creditors, and bv I such person as the court shall direct Tha resienation or removal of an aasignee shall in bo way release him I from performing all thing* requisite on bis part lor the I proper closing up of his trust and tha transmission I thereof to his successors, nor shall it affect I tha liability of the principal or surety on tha bond I givon by the assignee. When, by death or I I otherwise, the number of assignees Is reduced, tha I I ?***!* dobior not lawfully disposed of shall vest iSili" ?ign?s or assignees, and tha persons 0111v~anc'?" ,f the same powers and duties relative thereto as If they wera onginally I chosen. Any former assignee, his executors or adminis- I I . <il'on r?<lu*8t> *od at the expense of the estate, I shall make and execute to the new assignee ail deeds, conveyances and assurances, and do all other lawfuf acts requisite to enable him to recover and receive all the estate. And the court may make all orders which it may deem expedient to secure the proper fulfilment of the duties of any rormer assignee, and the rights and I interests of all persons IntTsKd in the estate. No I I person who has received any preference contrary to the I provisions of this act shall vote for or be eligible as as signee; but no title to property, real or personal, sold transferred or conveyed by an assignee, shall be affected or Impaired by reason of his ineligibility. An MUM refusing or unreasonably neglecting to execute an^ in strument when lawfully required by the court, or .111 | obeying a lawful order or decree of the couri n the I I promises, may be punished as for a contempt ol court I ?* D*? * ASO proof or CLAIMS. I 8kt. 18. And be It fuither enacted, That all dobt-i due and payable fn>m the bankrnpt at the time of the adjudi cation or bankrupt".}', and mil debts then exiting but not mV. h * d*r' " r*'>a,e of interest being made when no Interest Is payable by the terms of con tract may be provo.1 aga:nst the estate of tho bankrupt I All demands aga nst tho bankrupt for or on account of I 7. chalte,l wrongrully tak-n, converted or withheld by him may be proved and allowed as debts to I - Jlmoun' tbe value or the property so taken or I I k^! T"'1 ,nter08t- I' lho bankrupt shall be I bound as drawer, indorser, surety, ball or guarantor I upon any bill, bond, note, or snv other specialty? or I adjudication or bankruptcy, the creditor msy prove the I f*?* after such liability shall have become fixed, and before the linal dividend shall have deen declared. In all rases of contingent debts and contingent liabilities contracted by the bankrupt, and not heroin otherwise provid d for, tho creditor may make claim therefor, aud have his claim allowed, with the right to share In the dividends, if the contingency shall happen Before the I order for the final dividend; or ho may at any time fi'1 the court 10 hav# tb? present value of the debt or liability ascertained and liquidated, I which Rhall then be done in such manner aa the I court slutII order, and he shall be allowed to I prove for the amount so ascertained. Any person 1 iabls | as baj|, surety, guarantor, or otherwise ror the bankrupt. who shall have paid the debt, or any part thereof, In dis charge or lbs whole, shall be entitled to prove such debt | or to stand In the place or the crod.tor if bs shall have Cved the same, although such payments shall have I n made after the procoodlngs in bankruptcy wars | commenced And any person so liable ror the bankruta, and who has not paid the whole of said debt, but Is at li liable ror tbe same or any part thereof may, ir the crodi tor shall tall or omit to prove such debt, prove the same either In the name or the creditor or otherwise, as may I be provided by tbe rules, and subject to such regulations and limitations as may be established by suoh roles. ^!f.ere i 'SOn* '* llabIe 10 Sf rent? or othar <lebt I (ailing due at llxsd and statsd periods, the creditor may I ICS , * proportionate part tUt reof up to the line of I the bankruptcy, as if the same grew due from day to day, and nut at such fixed and stated periods If any I bankrupt shall b<> l.able for unliquidated damages arming out of any contract or promise, or on acoount of any t'?1* wrt"Wfully taken, converted or with I , ' V co,ur' m*7 cause such damages to bs assessed in such mode as It may deem best, and the sum SS as sessed may be proved against the.'estate. No debts other than those above specified shall be proved or allowed against lbs estate. Sue. 20 And be u further enacted, That, In all causa or mutual debts or mutual credits between the parties, the account between them shell bs stated, and one debt set off against the other, and tbe balance only shall be allow 1 or paid, but no set-off shall b? allowed of a claim In lis nature not provable against the estate; provided, that no set off shall be allowed in ravor of any debtor j to the bankrupt of a claim purchased by or transferred to blm alter tbe filing of the pettloa. When a creditor rise a mortgage or pledge of fal or personal property of the bankrupt, or a lien thereon ror securing tbe payment of a debt owing to him irom tbe bankrupt, be shall be admitted as a creditor only for tbe balauce of lbs debt arterdedui tiog tbe value of such propertv, to be ascer tained by agreement between him and the assignee, or uy a seis thereof, to he made in such manner aa the court slull direct; or the <T?ditor may relsase or convey bis claim to the assignee upon stieh property, and be ad I mi'tert to prove his whole deht If the value of tbe | K"p<>rtj exceed i toe <tim for which it Is so held as m I ?! ly' J A- tk'tu e may release to the creditor the the bankrupt ? right of redemption therein on receiving ?nrh excess; or be may soil the property. ii.btect to the | e s'm of the creditor thereon; and in either ratse tbe as i s k.n-1 and i redlior, respectively, shall execute all deeds and writings necessary or proper to consummate the i inwwuva 11 uio orupc-rty is not to told or teLaasad and delivered up, the creditor thai I not be allowed to prove any f?rt of bin debt. Site. 21. Au>i be It further enacted, That no creditor pr Ting tit* debt or claim shall be allowed to maintain any suit at law or in equity thcreior against the bank rupt, but shall l>e (twined so have waived ail right of ac tiou and suit against the bankrupt, and all proceedings already commenced, or unsatisfied judgments already ob tained thereon, shall lie d<*med to be discharged and surrendered thereby; and no creditor whose debt is proveahle under this act shall be allowed to prosecute to final judgment any suit at law or In equity theretor against the bankrupt, until the question of the debtor's discharge shall have been determined; and auy such suit or proceedings shall, upon the application of the bank rupt, be stayed to await the determination of the Court in Bankruptcy on the question of the discharge, provided there be no unreasonable delay on the part of the bank rupt In endeavoring to obtaio his discharge, and pro vided, also, that if the amount due the creditor i? in dispute, the suit, by leave of the Court in Bankruptcy, may proceed to judgment for the purpose of ascertain ing the amount due, which amount may be proved la bankruptcy, bat execution shall be stayed as afore said.. If any bankrupt shall, at tne time of adjudi

cation, be liable upon any bill of exchange, promissory note, or other obligation in respect of distinct contra<ts a* a member of two or more firms carrying on separata and distinct trades, and having distinct estates to be wound up in bankruptcy, or as a sole trader and also as a member of a firm, the cir cumstance that such firms are in whole or in part com posed of the same individuals. or that the sole contractor is also one of the joint ooatractora. shall not prevent proof and receipt of dividend in rospect of such distinct contracts against the estates respectively liable upon such contract*. abc. 22. And be It further enacted. That all proofs of debts against the estate of the bankrupt, bv or in behalf of creditors residing within tbe judicial district where the proceedings in bankruptcy are pending, shall be made before one of the registers of tbe court in said dis trict, and by or in behalf of non-reeldent debtors before any register In bankruptcy In tbe Judicial district where such creditors or either of them reside, or before any Commissioner of the Circuit Court authorized to adminis ter osths In any district. To entitle a claimant against tbeesta'e of a bankrupt to have his demand allowed, it must be verified by a deposition in writing on oath or solemn affirmation before the proper register or commissioner setting forth the demand, tbe consid eration thereof, whether any and what seouritiea are held therefor, and whether any and what payments hare been made thereou; that tbe sum olaimed ts justly due from the bankrupt to the claimant; that tbe claimant has not, nor has any other person, for his use. received any security or satisfaction whatever other than by bim set forth: that the claim wm not procured for the purpose of Influencing tbe proceedings under this act, and that no bargain or agreement, expressed or Ira pliod, has been made or entered into, by or on behalf of such creditor, to sell, transfer or dispose of the said claim, or any part thoreof, against such bankrupt, or take or receive, directly or indirectly, any money, prop erty or consideration whatever, whereby the vole of such creditor for assignee, or any action on the part of such creditor or any other person in the prtceed ings under this act, Is or shall be In any wav af fected, influenced or controlled, and no claim shall be Allowed unless all tbe statements set forth in such depo sition shall appear to be true. Such oath or solemn af firmation shall be made by the claimant, testifying of his own knowledge, unless he is absent from tbe I'nlted Mates or prevented by some other good cause from testi fying, in which cane- the demand may bo verified in liko manner by the attorney or authori/.ed aaent of the com plainant testifying to the best of his knowledge, lntor matlon and "belief, and setting forth his m*ans of knowledge; or If in a forego country, tbe oath of the creditor may be taken bofore any minister, consul or vice consul of the United States; and the Court may, If it shall see fit, require or receive further pertinent evidence, either for or against the admission of the claim. Con*>rit Ions may verify their claims by the oath or solemn affirmation of their presi dent, cashier or treasurer. If the proof is satisfactory to the Register or Commissioner, it shall l>e signed by the deponeni, and delivered or sent by mad to the as?lgn?e, who shall examine the same and compare It with the books and accouots of the bankrupt, and shall register, to a book to be kept by htm for that purpos-, the names of creditors who have proved their claims, In tbe order in which such proof is received, stating the time of receipt of such proof, and tbe amount and uiture of the debts, which books shall be open to the Inspection of all tho creditors. The Court may, on the application of the ass'gneo, or ot any creditor, or of the bankrupt, or with out any application, examine upon oath tbe bankrupt, or any person tendering or who lias made proof of claims, and may summon an.? person capable of giving evidence concerning such proof, or concerning the debt sought to oe proved, and shall r^joct all claim? not dulv proved or where the proof shows the claim to be founded in fraud Illegality or mistake. ? ^ S?c. 23. And be It further enacted, That when aclaim Is presented for proof before the election of the assignee and the Judge entertains doubts of its validity or of the U?k ? mhu cred'to,r 10 Provo it, and is of opinion that such validity or right ought to he investigated by the a*. S'gnee. he may postpone the proor of the claim until the assignee is rbosen. Any person who, arter the approval of this act, shall have accepted any preference, having S^EThS*.?"?.!0 VP th*1 the same was made or *iT*? V tbe debtor, contrary to any provision of this P">ve the d-bt or claim on account of which the preference was made or given, nor shall be XSSLWF* ther*fr?,m unu' hp 8h*11 fln,t have surrendered to the assignee all property, monoy, benefit ThMl*?r.a*h roce ^d by him under such preference. The Court shall allow all debts duly proved, and shali tb? . thB">of 10 ^ n"u1" and certified by one of I k-VT8! . ' *D? aDy cr?dt?or may act at all meetings ?nally pr??ent mltornv lhe Mme as though per. ?5"; 84 *nd *>? ? farther enacted, that a supposed SJTT ?rthohD^tr'?PtI>0*?'1" menUn wriUng of his claim, setting forth the same, sub It * cl?c,*ratJPn for the same caus^Mon 8L?5 Md tbe emiRnee shall plead or answer thereto in h^d fV * proceedings shall thereupon be had in the pleadings, trial and determination of the tel?? ,ct,on" Uweon,|n?noed and prosecuted, ? "j?*1 m?nner, in tbe courts of the T'nited State*, except that no execution shall be awardod against the f?T tb? "}??nt of * debt found due to the creditor. The final Judgment of the court shall be con elusive and the list of debt, shall, if neoJSSry.be a?, j^d to conform thereto. The party prevailing in tbe E? h/SMLJ* e?tltlfld 10 5?sl* ?*?!?? the adverse party, ^ and recovered as In suite at law; if recovered !SVE? ? fcSF'S?** ^ey sha" ?"owed out or the e?iate. A bill of exchange, promissory note, or other Instrument, used In evidence upon tbe proof of a claim ?2 h ?. J??rt' ur dcpoWtcd in ,h* clerk's office, may rP*'?ter w c,ork having the custody thereof, to the person who used it, upon his filing a on* thereof, attested by the clerk of the oourt, who shall KP?n> n*.m0 of the partv against whose estate It has been provod and the date and amount of any dividend declared thereon or propkktt pkrihrablr axd t5 msrrTE B?c. 25. And be It further enacted, That when It an. pears to the satisfaction of tbe court that the estate of the debtor, or any part th-reof, is of a perishable nature or lia)le lo deteriorate In value, the eourt mav order the' same to be sold, in such manner as may be deomed mo<t expedient under the direction or the register or as slguee as the esse may be. who shall hold the funds re ceived In plaoe of the estate disposed of; aud whenever it appears to the satisfaction of the court that tho title to any portion of an estate, real or personal, which has come lnu> possession of tho assignee, or which w claim?d oy him. Is in dispute, the Court may, upon tbe petition ?f tbe assignee, and after such notice to the claimant his , agent or attorney, as the court shall doem reasonable order It to be sold, under the direction of tbe assigns' , who shall hold the funds received in place of the estate disposed off and the proceeds of the sale shall be con sidered tbe measure of the value of tbe pruperty in anv ?jilt or controversy between the parties In any oourts. But this provision shall not prevent the recovery of the property from the possession of the assignee by anv proper action commenced at anytime before tbe court orders tbe sale. *XAMI1UTI0? Or BAKKRrPTS. 8?c. 26. And be it further enacted. That the oourt may, on the application of the assignee In bankruptcy or of any creditor, or withoat any application, at all times require the bankrupt, upon reasonabl? notice to wbrnlt to an examination, on oath, upon all matters relating to tbe disposal or oondltion of his property, to bis trade and dealings with others, anil his accounts concerning the same, to all debts d le to or claimed from him, and to all other matters concerning bis property and estate, and the dee settlement thereof according to law..which examination shall be in writing and shall be signed by the bankrupt and filed with the other proceedings; and the court may, in like manner require the attendance of any other person as a witness* and If such person shall fail to attend on being sum! , moned thereto, the court may compel bis attendance by warrant directed to the Marshal, commanding bim to arrest such person and bring him forthwith before the court, or before a register In bankruptcy, for exam In *li?n -5T wltnesa. If tbe bankrupt Is im prisoned, absent or disabled from attendance, the court may order him to be produced by the jailor,, or any officer In whose custody he may be w may direct the examination to be bad, taken and cerT tilled, at such time and place and in suck m^ni iX oourt may deem proper, and with like effect as if such examination bad been bad In court. Tbe bankrupt shall a all times, until his discharge, be subject to^&iSTo? the oourt. and shall, at the expense of tbe estate, execute all proper writings and instruments, and do ana perform all acts required by the eourt toach!ng tbe as signed property or eatate, and to enable tbe assignee to demand, recover and receive all the property and eatate r f1iKWod' ,Dd for n*?l*ct or refusal .2!? ?f i 5 court, such bankrupt may be committed and punished for a contempt of court. If the bankrupt Is without the district and unable to re in*>?!r,ih?#r95m*li.Ji V" nt auv ?' the time* or do 1?.wh'th b* specified or required pur thl* section, and If It appears that soch ab J?n? cai,ed by willful default, and If, as soon ???2?* V* th? r#nior?l of such Impediment, he Sfr ? Jfi *,^#nd *nd rah"?lt to the order at 15 ro?I*<-ts, he shall be permitted to de u! J ? effect as If he had not been In default. ?? ,h?" ?'?*> be at liberty from time to time, upon oath, to amend and correct his schednle of creditors factsprope 80 UMI* tbs same shall conform to the For good cause shown, tbe wife ef any bankrupt may be required to attend betore the court, to tbe end that she may be examined as a witness; and If stich wife do not sttend at the time and place specified In the order, the bankrupt shall not be entitled to a dlecbsrge unless he shall prove to the satisfaction of the court that he was nnsble to procure the attendance of his wife. Mo bankrupt shall be liable to arrest dnrlng the pendency of the proceedings In bsnkmptcy In any civil action, unless the same Is rounded on some debt or elaim from which bis discbarge In bankruptcy would not re lease him. or run msTmnrrtmt or ms juncacrr's kstats. Psc. 27. And be It farther enacted. That ail creditor! whose debts are dely proved and allowed shall he en titled to share In tbe bankrupt's property an I estate pro m>n, wlthont any priority or preference whatever, ex cept thai wages due from blm to any operative or clerk, or house servant, to an amount not exceeding f.'.O, for latmr ttarinrmnd wllhin six mouUui next pre ceding (be adjudication of bankruptcy shall lie entitled to priority, Httd shall he Unit paid iu full; provided that any debt proved by any per son liable as buil, surety, guarantor or otherwise, for the bankrupt shall not be paid to the ]k>ii?oii ho proving the name urn 1 satisfactory evidence shall be produced of tlie payment of such debt by audi person ao liable, and the share to which such debt would be en titled may be paid into court or otherw ise bold for tbe benefit of th" party entitled thereto, as the court m*v direct At the eipiratioo of three months from the date of the adjudication of bankruptcy in any case, or so mach earlier as the court may direct, the court, upon request of thi" assignee, shall call a general mutiny of tbe creditors, of which due notice shall be given, and the assignee shall then report, and exliib t to the court and to the creditors just and true accounts of all his re ceipts and |?ayments, verified by his oath, and he siiull also produce and file vouchers for all payments for which vouchers shall be required by any rule of the court; he ?hall also submit the schedule of the bankrupt's credit ors and property as amended, duly verified by the bank rapt, and a statement of the whole estate of the bank rupt as then ascertained, of the property recovered and of the property outstanding, specifying the cause of its being outstanding; also what debts or claims are et undetermined, and staling what sum remains in his ands. At such meet ng tbe majority In value of the creditors present shall determine whether any and what part of tbe net proceeds or tbe estate, after deducting and retaining a sum sufficient to provide for all undeter mined claims which, by reason or the distant residence of the creditor, or for other sufficient reason, have not been proved, and for other expenses and contingencies, shall be divided among the creditors; but unless at least one half in value of tbe creditors shall attend such meet ing. either In person or bv attorney, it shall be the duty of the assignee so to determine. In case a dividend Is ordered, the register shall, within ten days after such meeting, prepare a list of creditors entitled to dividend, and shall calculate and set opposite to tbe name of each creditor who has proved bis claim tbe dividend to which be is entitled out of tbe net proceeds of tbe estate set apart for dividend, and shall forward by mall te every creditor a statement of the dividend to which he is enti tled, and such creditor shall be paid by the assignee in such manner as the court may direct. Bsc. 28. And be It farther enacted, that the like pro ceedings shall be bad at the expiration of the next three months, or earlier if practicable, and a third meeting of the creditors shall then be called by theoourt and a final dividend then declared, unless any action at law or suit in equity be pending, or unless some other estate or ef fects of tbe debtor afterward come to the bands of the assignee, in which case the assignee shall, as soon as may be, convert such estate or effects Into money, and within two months after the same shall be so converted the same shall be divided in manner afore*aid. Further dividends shall bo made in like manner as often as occa sion requires; and after tbe third meeting of creditor* no further meeting shall be called, unless ordered by tbe court. If at any time there shall be In the bands of the assignee any outstanding debts or other property due or beiongintr to the estate, which cannot be collected and received by tbe assignee without unreasonable or incon venient delay or expense, tbe assignee may, under the direction of the court, sell and assign such debts or other property in such manner as the court shall order. No dividend already declared shall be disturbed by reason of debts being subsequently proved, but the creditor prov ing such debt shall be entitled to a dividend equal to those already received by the other creditors before any further paym nt Is made to the latter. Pre paratory to the dual dividend tbe assignee shall sub mit his account to the court and file the same, and give notice to tbe creditors of such filing, and shall also give notice that he will apply for a settlement of his account and for a discharge from all liability as assignee at a time to be specified in such notice, and ai such time the court shall audit and pass the accounts of the assignee; and such assign e shall, if required by the court, be exam ined as to the truth of such account, and if found cor rect he shall thereby be discharged from alt liability as assignee to any creditor of tbe bankrupt. Tbe court shall thereupon order a dividend or tbe estate and effects, or of such part thereof as it sees fit, among such of tbe creditors as have proved their claims, in proportion to the respective amount ol their said debts. In addition to all expenses necessar.ly incurred by him in the execu tion of his trust in any case, the assignee shall be en titled to an allowance for his services In such case on all moneys received and paid out by him therein, for any sum not exceeding one thousand dollars, five per centum thereon; for any forger sum. not exceeding five thousand dollars, two and a half per centum 011 the excess over five thousand dollars; and If at any time there shall not be In his bands a sufficient amount of money to defray the necessary expenses required for the fur ther execution of his trust, he shall not bo obliged to proceed therein until tbe necessary funds are ad vanced or satisfactorily secured to him. If, by acci !?.t-tJn,lS,te orvotbvw?n^ without (hnlt of the as signee, either or both of the said second and third mecU inpi should not be held within the times limited, the court may, upon motion of an interested party order such meetings, with like efTect as to the validity or the proceedings as if the meet ins had been duly held. In the order for a dividend under this section the following claims shall be entitled to priority or preference, and to J! ? following order:? First?The fees, costs and expenses of suits, and the several proceeding in bankruptcy under this act, and lor the custody or proi>erty, as herein provided Second?All debts dne to the Unitod States, and all taxes and assessments under the laws thereof. One to the State in which the pro ceedings in bankruptcy are pending, and all taxes and assessments made under the laws 01 such State. Foiuth?Wages due to any operative, clerk or house sertont, loan amount not exceeding ISO lsbor Der iSLu? w"!,^n mouths next preceding the flrst pub "caUon or the notloe or proceedings in bankruptcy. hifth?All deb.8 due to any person who. bv the lann of the L'nited States are, or may be entitled to a priority or preference, in like manner as If this act had not bean passed: always provided, that nothing ~n(Xdta this act shall interfere with the assessment and coliec or any State! ??"?orltr of the United states or Or THK RAKKRCPT'S DtSCTUROI AXD ITU nn 8'c.29. And bo it further enacted. That at any time after the expiration ot six months from the adjudication ?h.b?nkl"lpl?y' or ? ?o debts have been prwd aS " the bankrupt, or if no assets have come to the hands of the assignee, at any time after the expiration of slitv ithln ?m J?ar from the adjudication of bank ruptcy, the bankrupt may apply to the court ror a di? *0? debl8'*nd court shall thereupon or der notice to be given by mail to all creditors who hare proved thelrdebtM, an,I by publlcatma at To^tonw. week in such newspapers as the court shall designste dne rward being had to the general circulation of the "fc'JIfc1 J ? d,'Mrict? or ln l^at portion or the district In which the bankrupt and his "Creditor* shall reside to appear on a day appointed for that purpose, and show cause why a discharge should not be gnuMd to the bankrupt. >10 discharge shall be granted, or ir granted be valid i the bankrupt has w.lfully "iora faU^n his affidavit annexed to his petition, Schedule or inven tory, or upon any examination m the course ol the nro ceeuings in bankruptcy, in relation to any material (Wts ?f h" d']bf' 0r Ul othermnte rlal luct, or if he has concealed any part ot his estate or effects, or any books or writings relating thereto, or if he has beon guilty of any fraud or negligence in the I care, custody or delivery to the assignee o: tbe property I "in. ^ the time or the presentation or his petition and inventory, excepting such property as he la f permitted to retain under the provisions or this net or ir he has caused, permitted oi suilsred any loss. waste ot destruction tbereor; or If. witbiu four months liefore | the commencement of such proceedings, be bus pro I enred his lands, goods, money or chattels to be attachod sequestered or seized on execution; or if. since the nasi "r.?'tbta "?i' h* destroyed, mutilated, altered or falsified any of his books, documents, papers, writings or securities, or has made or been pnvy to the making of any false or rraudulant entry In any book or account or other documont, with Intent to defraud his creditors or has removed or caused to be removed, any part of his property from tbe distriot. with intent to del mud his creditors; or if be has given any fraudulent prererouio contrary to the provisions or this act, or made any rraudulent payment, gl(t, transfer, conveyance or assignment of any part of bis property, or has lost any part thereof in gaming, or has ad mitted a false or fictitious debt against his estate: or if, having knowledge that any person has provod such false or fictitious debt, be has not disclosed the same to his assignee within one month after- such knowledge; or If, being a merchant or tradesmau he has not. subsequently to the passage of tbis act, kept proper books of account; or ir he. or mv person In bis he hair, has procured the aasent ol any creditor to his dis charge, or influenced the action or any creditor at any stage of the proceedings, by any pecuniary consideration or obligation; or if he hae, in contemplation of becoming bankrupt, made any pledge, payment, transfer, assign ment or conveyance ot any part or his proj>erty, dire. uv or Indirectly, absolutely or conditionally, for the purpose of preferring aar creditor or person having a cislra against bias, or who is or may be under liability for him. or for the purpose of preventing the property from com ing Into the hands of the assignee, or or being dlstrib uted under tliia act in satisfaction ot bis debts or if he has bean convicted of any misdemeanor under this act. or has been gulltjr of any fraud whatever contrary to the true Intent of tbis act: and before any discharge la granted, the bankrupt shall take and subscribe an osth to the effect that ha nas not done, suffered or been i rivv to any act, matter or thing specified in this act as a ground for withholding such discbarge, or as invalldatina such dlsoharge, If granted. wvaimaung ^,And ^ 'l t*PhtT enacted, Tbat no person Who shall "ay* been discharged tinder this act, and ?halt afterward become lmukrupt, on his own application shall be again entitled to a discharge whoseswatabiin sufficient to pay seventy per centum or the debts Droved la value or his creditors who have proved their claim* ,bj: T90( WlSSon f<x discharge'; but a bankrupt who shall prove to the satisfa< tion or the sr^JEas' iht ?*bu ?w,n?b" ?? . any previous bankruptcy, or who baa been vol* untarily released therefrom by bis creditors, shall iVee same efffect iTf hJVLl'i manner and with tbe same eject as ir he had not previously been bankrupt * u waned, That any creditor Sd.^ bT,,0' ,ny b,nkrul* may tile a spec I ? ,TIlla? ?"lb?,'rounds or bis opposition, and the oourt may, in Its discretion, order anv question of District Court" l? ** lrtC<, " # "tat*d *>?100 of the fler. 31 And he it further enacted, that if It shall ap* ***!,c?oa" P>'?* ^e bankrupt has in nil things bi* datr Ul,d,'r this act, and that bo is entitled, ui^der tlm provisions thereof, to receive a dia ??Url Krant l>tn> ? 'llscharge from all his debts except as hereinafter provided, and shsll give him a certificate thereof under tbe seal of the court, in substance ss follows:? ?vrVi*I*'CT r"?t5,.or *<? trnmn States? Oirrsirr or . n^-i nf r* ,Y?Cn. 'Lu,y adjudged a bankrupt tinker the !hr..i[.hn!lfT?T i . tn<*,,n"ocm *??"??> of banSiuv""* throughout I he Lnited sute?, und ap|W Hr? to have c ontorm '1>?J*1. rsqulremrnu or lnw III that heh. lf, It is there. Tit 7 ^youiiuthit Mid ?b., rorsrer Siaehanmd ? ? ra* wliicli by aaid an are mUli' luov* able sgMnst Illsi estate, and whleh e*l?ted on ths d iv of -??.on whlrh day Ui,. pnuilon lor adjadlcjitioa '?as ale 1 bj I'll t.icej (ltig ancb debt-, If ?nj, >,s are by Kafd act etsepted frmn (he operatlos of a (*1wh*rgp m tmnkruplev. ?i-tL'i!? L?1'^nd *nd ,h'' "eiilot the court, at , In the Mid district, this day of , 4. 1). i8e.il.) ?, .Indga. n3. And he It further ensued, That no debt creaUrl hy the fraud or emberslet;ietn of the bankrupt, or p| bis dofalcation as a uuplic oiiiccr, or while acting In ur fiduciary chartctor, shall bt discharged naXe this net; but tliu delH iuay be proved, and tho dividend lhert'<D shall be a payment on account of mid debt, m(I no discharge granted under this act shall release, iiscliai 40 or atlcn t any person liable for the same debt for or with the bankrupt, either as partner, joint con tractor, eudorser, surely or otherwise. [And In all pro scedings In bankruptcy, commenced aftor one year froim ll.e tim<i this act shall go into e|>eratioD, iio discharge 'i,nil be granted to a debtor whose assets do not pay Illy per centum of the claims against his estate. unle*i h" assent in writing of a majority in number and vain* if his creditors who have proved their claims m tiled in he case at or before the time of application for di? sharge. ] 8kg. 34. And be It further enacted. That a discharge Inly granted under this act shall, with the exceptions iforenaid. release the bankrupt from all debts, claims, labilities and demands which were or might have been Moved against his estate in bankruptcy, and may be ileaded, by a simple averment tl?at on the day of ito Ute such discbarse was granted to him, setting the same forth in hcec verba, as a foil and complete bar to all suila wrought on any such debts, claims, liabilit es or demands, tod the certificate shall be conclusive evidence In favor if such bankrupt of the ract and the regularity or such llscharge; always provided that any creditor or credi tors of said bankrupt, whose debt was proved or prova ble against the estate In bankruptcy, who shall see fit to contest the validity of said discharge on the ground that it waa fraudulently obtained, may, at any lime within two years alter the date thereof, apply to the court which granted It to set aside and annul the same. Said application shall be in writing, shall specify which in particular of the several acts men tioned in section 29 It la intended to give evidence of againet the bankrupt, setting forth the grounds of avoidance, and no evidence shall be admitted as to any other of the said acts; but said application shall be subject to amendment at the discretion or the court. The court shall cause reasonable notice or said application to be given to said bankrupt, and order him to appear and answer the same within such time as l? the court shall seem fit and proper. If, upon the hear ing of said pantos, the court shall find that the fraudu lent acts or any of them set forth as aforesaid by said creditor or creditors against the bankrupt are proved, and that said creditor or creditors had no knowledge or the same until after the granting of said discharge, Judg ment shall be given in favoroT said creditor or creditors and the discharge of said bankrupt shall be set aside and annulled. But if said court shall find that said fraud lent acts and all of them set rorth as aforesaid are not firoved, or that they were known to said creditor or ered lors before tbe granting of said discharge, then judg ment shall be rendered in favor or the bankrupt, and the validity of his discharge shall not be affected by said proceedings. PtUVEUMOKS AJTD VIUCDtrLICNT COJfVETAKCSS DSCLS.RU> VOID. Ssc. 39. And be it further enacted, That if any persoa, being Insolvent, or In contemplation of insolvency, witb tn four months from tbe tiling of the petition by or against him, with a view to give a preference to any creditor or person having a claim against him, or who Is under any liability for him, procures any port oT his property to be attached, sequestered or seized on elocu tion, or makes any payment, pledge, assignment, trans fer or conveyance ol any part or hTs property either di rectly or indirectly, absolutely or conditionally, the per son receiving snch payment, pledge, assignment, trans fer or conveyance, or to be benefited thereby or by such attachment, having reasonable cause to believe such person Is insolvent, and that such attachment, payment, pledge, assignment or conveyance is made in fraud or the provisions or this act, the same shall bo void, and the asslgnoe may recover the property, or the value of it, from the person so recelvine It or so to bo benefited; and if any person, being insolvent, or in contemplation of insolvency or bankruptcy, within six months before the filing of the petition by or against him, makes any payment, sale, assignment, transfer, conveyance or other disposition of any part of his property to any per son who then has reasonable cause to believe him to be insolvent, or to be acting in contemplation of Insol vency, and that such payment, sale, assignment, transfer or oilier conveyance is uiado with a view to prevent his property from coming to his assignee in bankruptcy, or to prevent the same from being distrib uted under this act, or to defeat the object of, or In any way Impair, hinder, impede or delay the operation and effect of, or to evade any of the provisions of this act, the sale, assignment, transfer or conveyance shall be void, and the assignee may recover the property or the value thereof as the assets of the bankrupt. And if such sale, assignment, transfer or convoyance Is not made in the usual and ordinary course of business of the debt it, the fact shall bo prima facie evidence of fraud. Any contract, covenant or security made or given by a bankrupt or othor person with, or In trust for any creditor for securing the payment of any money an a consideration for or with intent to Induce the creditor to forbear opposing tbe application for discharge of th* bankrupt, shall bo void; and it any creditor shall obtain etnv sum of money or other goods, chattels, or seourlty lrom anv person an an Inducement Tor roroeermg to op pose or consenting to such application for discharge, ?very creditor so offending shall lor.eit all right to any share or dividend in the estate of the bankrupt, and shall alas forfeit doable the value or amount of such money, goods, chattels or security so obtained, to be recovered by the assignee tor the benefit of the estate. BAjncBcrirr or PA?r?nsr< ships avd or coRPOKATTOire. Sac. 36. And be It further enacted, That where tw? or mora person* who are partners in trad* shall be ad judged bankrupt, either on the petition of such partners or any one of them, or on the petition of any creditor of the partners, a warrant shall issue in the manner pro vided by tills act, upon which all the joint atock and property of the copartnership, and also all the separate estat" 01 each of the partners shall be taken, excepting such parts thereof a* are hereinbefore excepted; and all the creditors of the company, and the separate credi tors of each partner, shall be allowed to prove their respective debts; and the assignee shall be choaen by the creditors or the company, and shall also ka -p sepa rate accounts of the joint stock and property of the copartnership and of the .separate estate of each member thereof; and alter deducting out of the whole amount received by such assignee the whole of the expenses and disbursements, the net proceeds of the joint atook shall be appropriated to pay the creditors of the co partnership, and the net proceeds of the sep arate eat at* of each partner shall b* appropri ated to pay his separate creditor*; and if there shall be any balance of the separate estate of any part ner, after tho payment of his separate debts, such baianee shall be added to the joint stock for tba payment of the joint creditors; and if there t>ball be any balance of the joint stock after payment of the joint debts, such balance shall be divided and appropriated to and among the separate estates of tbe several partners, according to their respective right and interest therein, as it would have been if the partnership had been dissolved without any bankruptcy: and tbe sum so appropriated to th* separate eata'e of each partner shall be applied to th* payment of his separate debts, and the certificate of discharge shall be granted or refused to oacU partner aa tbe same wonld or ought to be if the proceedings had been against him alone under this act; and la all other respect* tbe proceedings against partner* shall b? conr ductcd in the like manner as if they had boen com menced and proaeeuted against on* person alone. If such copartner* reside in different district*, that oonrt la which tbe petition 1* first filed shall reiain exclusive jurisdiction over tbe case. ??rr. 37. And l>e it further enacted, That ths provisions of this act shall apply to all moneyed, business or cotn tnorcial corporationu'and Joint atock companies, and that upon the petition of any officer of any such oo.poratioa or company, duly authorized bv a vote of a majority of the corj>oraton? present at anv legal meeting called for, the purpoa*, or upon the petition of any creditor or creditors of such corporation or company, made and pre aented In the manner hereafter provided in respect to debtors, tnc like proceedings shall be had and taken as are hereinafter provdad in th* cat* of debtor*; and all the provisions of this act which apiriy to tha debtor, or set forth his duties In regard to furnishing schedules and inventories, executing paper*, submitting to examina tions, disclosing, making over, secreting, concealing, convoying, aligning, or paying away his money or pro perty, shall in like tnanner, and with like force, eflVct and penalties, apply to each and every officer of aoch cor poration or company in relation to tha same mat ters concerning the corporation or company, and (be money and property thereof. All payment*, conveyances and assignments declared fraudulent and void by this act when made by a debtor, shall, in like munner, nnd to th* like extent, and with like remedies, be fraudulent and void when made by a corporation or company. No allowance or discbarge shall be granted to any corporation or jolat stock company, or to any person or ofllc r or member thereof; provided that whenever any corporation, by proceedings tinder this art, shall be declared bankrupt, all its property and assets shall ba dtourtbated to th* creditors of such corporation in th* manner provided la this act in respect to natural persons. or oat*8 A*D wtroamowa. fnc. 38. And be it further anactad, That tha filing of a petition for adjudication la bankruptcy, either uy a debtor in hi* own behalf or by any creditor against a debtor, npon which an order may be issued by th* court, or by a re.lster in tha manner provided in sec tion four, shall be daem*d aad taken to be the com mencement of proceedings In bankruptcy nnder this act: tbe proceedings In all cases of bankruptcy shall be deemod matter* of record, but th* same shall not ba required to be reoordod at largo, but shall be carefully filed, kept and numoered In tbe office of the elerk of tho court, and a docket only, or short memorandum thereof, kept In hooka to be prtrvlded for that parpo**, which shall be open to public inspection. Copie* of aneh records, duly o*rtilled under the seal of tha court, ahall, In all canes, be prxma facie evidence of tbe fact therein stated. Enden-e or ex aminations in any of tha proceeding* nnder this M may betaken before tba court or register In bankrupt v, viva voce or In writing, before a Commissioner of tbe plrrult Court, or by affidavit or on commission, and the court may direct a reference to a leglster la bankruptcy, or oilier soluble person, to take and certify such examine- I tlon and mav compel tbe attendance of wilncssea, tha production of booksand papers, and the giving of testi mony in the same manner aa In suits in equity in tha Circuit Court ItnoiIIItTAlT BiWMtTTCT. Sw. 39. And be It further enacted, That any person' residing and owing debt* aa aforesaid, who, sffe' tha paswica of thla net, shall depart from the Wale, district or territory, of which he I* an Inhabitant, with intent to defraud hjs creditor*, or, being abasiit, shall, with such lutent, remain absent; or snail oonceal himself to avuMi the service of legal prec.es* in any action foa the re< o*. ery of a debt or demand provable oud-T tin? an; or shall conceal or remove any of hi* propertv to avoid ltd be ng attached, taken or sequestered on logtl process; or shall make any assignment, gift, sale, conveyance or} transfer of hi* estate, property, rights orerodlta, eitlieC within the tailed States or elsewhere, with intent to de-I lay defraud or hindor bis creditors; or whol lias been arrested snd held in ensi.Kltj under or by virtue of mesne proce** oI execution, tseuod' out o( any Court of any Slate, dif trie# or Territory, within which such debtor reside." or 11" property, founded upon a demand In its nnlttre provable against * bankrupt's e*M'* tinder this act, and for a sctn exceeding one hundred dollar*, aud sucli pruccsa is ro| mainlng In force .tnd not discharged bv payment, or in any other ronnner provided by tbe law of ?neh St-itol district or Territory applicable I boreto^ for t> not ? I "I seven day*; or has boen autusllf liOKiouatl fo? raoHfj thin seven days in b civil action, founied on contra't for tho sum or on* hntidml dollar* fir 'inward; or win I being bnnkmpt or In. Iveut, - T in " ,p ttion i I bankruptcy or insolvency, ?bai I v vtniut. gif ! tram. t><ie, conveyance or traun \ -c* of otu*