The New York Herald Newspaper, December 15, 1864, Page 2

FINANCIAL AND COMMERCIAL. eee “ Wrosmspay, Dec. 14—6 P.M. ‘The gold market was steady till near the close of the day, when it took an upward tura, The quotations were as follows: — 10:00 A. M.... 233% 2:40 P.M. 235%, 3:50 P.M. B34 4510 PM 1:25 P.M... 6:10 P.M + 23635 The shipments of specie to.day were large, amounting in the aggregate to $818, 207—of which the China took ous $602,207, the Bavaria $116,000 and the Morro Castle, far Havana, $100,000. The stock market was dull this moroing, but frm, The closing quotations showed the following variations from those of the second board yesterday:—Erie ad- Vanoed 4, Michigan Central 1, Rock Island i, Michiga Southern 4, Ilitaois Centrat % , Cleveland and Pittsburg 1, Prairie du Chien 3, Fort Wayne *{, Cumberland Coal 13g Reading and Mariposa were steady; Quicksilver declined 1X. Government eecurities were a fraction lower, chiefly in consequence of the absence of a policy of any kind on the part of Mr, Fesseadeo, Coupon five twenties de clined 34, coupon ten-forties %{ and one year certifi cates 14. At the open board at ove o’clock the market was higher; but at the second regular board the advance was fot fully maintsined. As compared with the closing Bales of the morning, New York Central improved 3%, Hudson River %, Michigan Southera 3, Illinois Central 4, Chicago and Northwestern »{, Rock Island >, Prairie du Chien 54 and Fort Waye %, Goveroment securities were quiet. Coupon five- twenties advanced !{, After tho eall, however, there was an active demand for them, and 108% was bid for coupon five-twenties on the strect ‘The money market is easy, the supply of capital being Abundant, Cail loans on government collaterals are made in large amounts at eix per cent; but the rogular rate in ordinary transactions continues to be seven. Commercial paper of the best quality is scarce, and the discount rate is from seven and @ half to ten percent, Foreign exchange 1s firm and in moderate demand at 1094 for bankers’ ster+ ling at sixty days,amd 1104s a %% at three days, Mer- ehants? bills are offered at 108 a 33. Nothing further bas wrauspired to-day with recard to the pegotiation for the balance of the first hundred mil lions of the ten-forty loan, and the besitation displayed by Mr. Fessenden with regard to his future policy is proving highly detrimental to the public credit. Ho bas just issued a circular, commencing with the words:—‘Desiring to avoid any further issue of bonds, tho interest of which is payable in coin, or any further increase of paper circulation, J ask your special attention to the seven and three-tenths notes now offered to the pablic.” If Mr, Fessenden had substiiuted a word signiying something more determined than “desirous,’”? tbe effect would have been immediate and beneficial, If he only showed less vacillation and @erexter appreciation of the responsibilities of his im portant position, he would, instead of impeding, promote the interests of the country. As it is, be isthe wrovg man for the position he occupies, He has neither the theoretical nor the practical knowledge necessary to ena- ble him to transact the business which devolves upon bim with that keen discrimination‘and general ability which the emergency calls for, and as a consequence he is more or less under tb in‘nence of designing speculators, who have no other interest to serve than their own, while he utterly fails tn devising a plan for the future which is in the least calculated to divert threatened disasters. He would appear to be blind to the vast resources of the country at his command, and to be guided alone by the evil example of his predecessor, He looks to the ‘worst possibilities instesd of favorable probabilities end but /iitle less favorable certainties, and by his whole tone and policy he does his best, unconsciously, no doubt, to invite tbe very disasters which it is bis business to avert. In the ciroular referred to Mr. Fessenden reproachcs the natioval banks for their want ,of patriotism in not pushing the seven-thirty currency losn, He says: In extending to national banks and others autbority to obtain subscriptions, aud the offer of liberal commissious for services performed, it was expected that the natioual Danks, especially connected as they are with the govern- ment, and profiting by that connection, would have been stimulated to such exertions as would insure €uccegs. I Tegret to say that the results thus far have not been satis- factory. Before reserting to other agencies, I therefore again appeal to the national banks, in the hope that they ‘will undertake this most pecessary work witha spirit and which will demonstrate that the recognized fiscal of the government may at all times be relied on for ate exertions to procure the means necessary to its daily wants. The national banks, it would thus seem, are somewhat apathetic in the matter. No doubt their patriotism has reference to their pockets; but Mr. Fessenden cannot expect the national banks, “connected although they are with the government, and profiting by that connection,’’ €0 use exertions to promote subscriptions to a currency Joan while doubt existe with regard to the issue of future gold bearing cans, The proper plan for Mr. Fessenden to pursue is, therefore, 0 renounce the idea of further reliance upon fresh issues of gold beariog securities, which the government, in view of the existing gold bearing debt and the present and probable receipts for custom duties, is aot justified io making. It was a mistaken policy that dictated the issue of gold bearing bonds in the first instance, aud the ‘sooner it is corrected the better for the nation. Adrian H, Muller, P. R. Wilkins & Co. sold to-day, by order of Smith Barker and Alfred DeWitt, assignees of Frederick Pentz:— 60 shares Harlem Gas Light Co., $50 each 134 Chemung kaliroad Co., $25 : urance Co., $100 en $11,000 Virginia Can Coal Co. 7 per cent bds. due 1869, interest March 1 and September. No inter- est paid on these, $1,000 exch. sper jot 220 6,000 Buffalo, New York & brie RR. 1st mtge. 7 per cent bonds, due 1877, interest June 1 aod Decem- der, $1,000 each . 10435 By order of the administrator of Ephraim Miller, de- peased:— 2 230 shares Kings County Fire Ins. Co..$20 each... 78 The nighest cash prices of the leading railroad end miccellaneous shares, at the first session of the Board of Brokers to day, compare with the quotations on Wednes- day of last week as follows :-— American Coal Co.... Cleveland and Pittsburg RR. Cleveland ane Ieledo KR.. Chicago and Kook island RR. Chicago and Northwestera Rit Chicngo and alton RR. pref... Chicago, Burlington aod Quincy RR. Cumberland Coal Co Canton Co Hadeon Mi Mlipois Central RR Michigan Central KR . Michigan Southern RR. Milwaukee & Prairie du Chien RR Mariposa Miniog Uo.. New York Coutral RR... ‘New York and Erie RR... New York and Frie preferred. Obio and Missiesippt certiicates Pacific Mail Co.. 5 Pitteburg, Fort Wayne & Chicago RR. .108 Quickeilver Mining Co. 87 Roading RR. Government securiti < wees BT 136g it noon to-day were quoted as , interest on Registered five twenties... Oowber 7 3 10\be Treasury notes. Repisiered ton forties Coupon ten-forties +10) ‘One your certificates..... oa @ stocks were registered at the following price Miseouri 6” 6434 North Carolina 6's... £9 Tennesse 6 6634 Culiforia 7 Indiana 5°8 Ohio 6's, 1531 -100 Virginia 6 M +100 Georgia 6's, one 65 ‘The following is a comparative statement of the canal receipes at the Utica office for 1863 and 1864, from the opening to the close of navigation in each year;— 86 Erie Canal... Lape Cvenango Canal Total. ‘The canal reoeipts at Rome wore as follows:— 1863. 1864, Frie Canal $25,010 oni $27,716 ‘The New York exports for the week compare as follows with former returne — 1802 1863, 180s For the week, .... $353 2,008,444 8.444.686 Prev. reported. 160,300,899 199,673,814 Siuece Jan. 1,...$140,0 163,204,943 203,118,700 ‘ibe New York imports compare as {ollows:— 1562, 1868. 1804. Dry woods....., $108,008 1,009,412 808,740 Geserai mercna'se 1,052,206 —3,278'662 1,706 240 Totaifor weok.. $1,530,300 aati ore Prev. reported... 161,170,624 100 410,070 Btece Jan. 1.....$160,700,004 200,616,928 Ab the Central Railroad olection, held at Albany to-day, 173,512,084 26,412 Steck Brenange. Wepsespay, Dec. 14—10:30 A, M. $2000 TS 6's,’S1,cou.s 118 1000 sig Mariposa Mg = 35 '¢ 500 U $6's,5-20,c0u 10834 100 b10 1000 do. reg. 1085 25000 Onio& Miss cert, 352% 6000 do. + BdY . 935 100 shs Metropo!’DBk 107 100 Canton Company. 36 50 Dei & Hud Canal. 21636 18 do. 215 60 216 50 a 2153 200 Ce 50 Penn Coal Cox. 205 800 Chic & NW RK... 2n0 do.....-, + 206 100 OO Sistisedag 250 Nic Transjt©o... 7 600 Chic & NW pref. 1000 Smith ParmGold 9 600 G0i.3. 5 ae 200 SchuyikiliCoul Co 73¢ 600 Chic KR 500 Cumb<oal pref.. 60% 1000 do 200 do. . 60 200 do. 1509 American Coa\.. 85 200 do. 200 Q’cksilver Mg.b10 93. 100 do 200 d ++ 92% 100M & P 500 . 92% 80 New Jersey RR.. 165 100 0 9255 400 Pitts, FLW&OD RK 10516 100 830 9214 fOH &StIRR pref 601% 200 + 02% 200Chi& Alton RR. 9236 SECOND BOARD. Hate Past Two o'Crocg P. M, $500 US 6's’ 81, cou 117 100 shs MSo 1000 do, + 116% 200 do. -+ 116% 100 do , con 108%, 200 Mich *o RR guar, 145 do..new iss 108% 600 I11Cen RE . Bt 8000 US6's,10-40,cou 1ui% 200 Hud Riv RR. ums 10000 USb’s,10 40.reg 1013¢ 100 do. 73 5000 73-10 1rn0 ‘&O 119° 200 Cleve & - ue 3000 Tenn 6's, '% 1800 Chi & NW RR... 44 1000 Missouri 6's... 200 do + BH 1000 Ohio & Miss cer 36 200 do. ae. 48% 1000 MSo2mtye 97 = 150 Chi ANWRRorof 763¢ 200 ns Canton Co... 38% 100 do. 76%, 500 Cumb Coal pref... 503% 1000 Chi & RK Ial.... 108 100 Cuicksilver Mg Co 9444 200 ar +815 108 200 NY Cen RR. .830 120° 600 M& PduCh.vl0 55 100 do. - 120% 500 GO vee ceet. 54% 100 G0.04++.010 1204g 100 Pitts,FtW&CHIRR 105 5 200 Erie RR n80 94% 200 do 105% 1200 Reading RE 200 400 do, bid 13734 200 100 Mich Cea RR.s30 130 200 CITY COMMERCIAL REPORT. Wapvuspay, Dec. 14—6 P. M, Asurs.—Receipts, 25 bbls, The market atill continuas dutl,and prices are wholly nominal. Breapstvrrs —Receipts, 11,614 bbls, flour, 287 bbls, and $93 bags corn meal, 3,670 bushels corn, 2,320 do. oats, and 62 do, rye, The demand for State flour continued moderate; but the market remained very firm, and if there was any difference in prices it was in favor of the seller—some choice brands being quoted about Se, higher, With only a moderate demand, however, it was diilicuit to establish any advance, and the improvement was only nominal. Western flour remained steady at about pre- vious prices. The sales comprised 13,600 bbis. State and Western, 900 do, Southern, und 250 do, Canadian, Rye flour was in moderate request at $8 25 a $9 50, with es of 100 bbis. (orn meal was dall and beavy at our t quotations We quote — ‘State and Western flour. tal al Choice State. ; al Common to medium extra Weetern........10 25 a 107 Extra round hoop Unto. 11 20 a 11 40 Western trade brands +-11 45 a 12 00 Extra St Louis..... 11 15 a 14 60 Cemmon Southern 10 90 0 12 25 Fancy and extra do. 12 25 a 15 00 Common Canadian +10 30 a 10 50 Good to choice und 10 60 a 12 25 Rye flour, eupertine ~ 8 5ua 950 8500 975 pu 40 00 a 41 00 ocheon! mo —The demand for wheat continued very mocerate, and contined chiefly to the local milers, Tue market ruled quiet but firm, and the holders were invtsposed to grant any Concession, even to induce purchases The sales were confit to 30.000 bushels at $2 41 x $2 60 for win- ter red Western and $2 31 for No. 2 Chicago suring. Of rye 7,500 bushels Western sold at $2, which is a material deli: Cemand for batiey was quite active and the market firmer, with sales of 29.500 bushels at $1 93 sor Stute and $1 8234 for choice Canada Wust. In barley mait there was nothing ding, but steady at our quotations, Corn was duil, beavy and ower, with moderate transac- tions at the reduction, the saies comprising 60.000 bushels at $1 72 for yellow Jersey and $1 90a $1 91 for mixed ‘Western in store and offoat. Oats were also lower: but a ‘Very large business was transacted at the decline. We “a ae at 03a $1 0334, Canada $1, and Western Gorrez.—Under an active demand and ‘urther re. duced stock, the market was somewhat firmer, the Gales reaching to-day some 16,000 bags Rio and Santos to government, on terms pot allowed to transpire; alsa 125 bags Alariscaibo, on private terms, but atfull prices, Lorrom —Chere was leas activity in the market for this article, and prices were scarcely 8» firm, the demand be ing confined princ'pally from spinners, with » moderate Speculative Trend, a Ordinary’... ....125 Middiing 131 Good middling. .133 134 134 Frricers.—ibe market remained steady, and the en- gagements were at about the rates quoted in our last, 185 To Liverpool, 950 hbds tob»cco ‘The engagements were 138. 6d. 10 boxes bacon at 30s. a 358., and, per neutral, 100 bbis, maptha at 63., 200 hbds. tobacco at 228, 6d., and 200 vierces lard at 178 6d. To Genoa, 1,000 bois. petroleum at 6s. 64. To London, 40 caeks aslios at 158., and, per neutral, 100 bbis. pork at 2s. 6d., 2,000 Packages ‘cheese and 100 boxes bacon at 258, T) Ham- burg, 100 tong measurement goods; a ship, 1,818 tens, to Genoa. 1,400 bbcs. tob.cco at Z0s.; a Eritish brig, 200 tons. to south side Cana wnd back, $2,500, half gold; ove, 239 tons, to Havana, $1,500: one, ‘296 tona, to Matanzas, $1,700; One, 150 tons, t» Nassau, P., $1,050; a British to Hatfex, 30c. per bbl, and a schooner, 140 tong schooner from Etizabethrort to Portland , coal, $2'¢0. Hovs.—Deeirable grades are tn good demaud from con- eumers, and this quality being fo limited supply, higher prices are obtained. A fair demand also continues for export, the sules reachiog 120 bules at 38c. a 52c,, and 200 do, 1863" at 26, a 40c Rangoon at 18}, was very quiet, but may be quoted firm at $1 50 for shipping and $1 70 tor city use. MoLassts was in steady demand for consumption, with sales of 50 bhas. Porto Rico at $1 10; 10 bbis. uew crop New Orieans at $40 cash, and 80 bhds. Cuba muscovado manding $2 20 a$2 25 for French and Ameri- turpentine. Rosivg firm, with saies of 20 bbis. at $29 50 « $00 for No. 1 ‘Oris —Linseed continues in steady jobbing demand at $1 42.a$1 43. There was rather more inquiry for large parcels, bat eales were restricted by the difference be- een the views of buyers’ and sellers; which was in some instances fully 3c, per gallon Perroveum —Receipts, 1.887 bbls. The market was very quiet today, there being scarcely any demund. The offers were ut prices which setiersg thought too+iow. The nominal prices were boc. for crace, Te. for refined io bond, aud 95c. for do. free, but tue business was con- fined to small lots. Considerable was done im “calls,” but the terms were not so favorable to the sellers a8 they were yesterday Lots for torward delivery were ofiered atrather lower prices. There ia plenty of oil to come forward, but the railroad companies msintain their quarrel, and woue of consequence can be shipped to the Eoat. Provisions,—Receipts, 1,195 bbls pork. 1,528 packages beef, 69 do, cut meats and 479 du. lard. There was a cot tinued good demand for the hog product, in part for co sumption, but mainly for speculation, and a further slight vance was estublished om moet kinds. The speculative movement in pork continued, aud with a large businees prices showed a slight tmprovement, new mess haying sold quite (reely at an ndvance of 37¢. above yesterday's rat For future delivery tho sales cor prised 6,000 bbis, meee, 1864-5, setlor January, at $42 $42 60; 1,000 do. do.,’ seller January and February, $44, 600 do , buyer January, at $42; 2,000 do. do., seller February, at $4260 @ $43, avd 2.860 bbls, prime mess, for January, buyer's option, ot $42 a $43, The transac: U1 ng on the spot inctude 10.000 bbls. at $37 a $37 26 for 18. 2-3 mes2, $39 25 a $39 75; for 1463-4 do., cash and Tegular way, closing tirm at the latter pricet¢41 a $41 60 for new mess, $26 4$36 25 for prime, and $40 for prime m Reef continued heavy, the cemand being mod rr ales of 630 bb at $18 60 aw $2150 for ne plain mess, and $21 9 $23 for new extra mess. Teer hems were quies bub steady at $27 for Western. with sales of 300 bbls. Tierce beef was du!l and declining, with no transactions of importence to report, In cut meats there hus beon & fair busivess dotng, and the market without change, he transactions were 600 tierces pickled hams at 20c. a and 10,000 rovgh pickled sides at or about 200, ‘ontinues in demand and firm, with sates of 4.000 boxes for January, December and F ary, at 200 a 2ic. for Cumberland cut; 21 Lio. for long ribbed o ‘Also 120 boxes Cumberiand cut sold, on the spot, at 2146. Dresned hega were 90. bigher, owing to the active demand and the continued searcity, We quote city at 17%c, a 17Ke, Lord more active and firm, with sales of 3.000 bbls, and tierces at 19%\c. a 22%0. for No.1; 220. a 23.5s0° for fair to prime steam, 23 cc. 240. for keitle, and 24 io, for fancy city. Butter aad cheese quiet at previous qno. tations. Svan —There bas been av active demand for raw to- day, principally trom retiners, with some inquiry from the trade, though the sondency ruled in favor of the ‘air to good refining may be quoted at 1830. 8 190, les word large, comprising fully 1,940 bbds, Cubs uscovada at 191¢¢, 020 ke., ebiefly at ube inside price; 7 do. Portd Rico at from 200, to 2450, 260 bores fe.,and 12,000 bags Mani trenspire, Refined was more ac ‘Tc. for soft yellow, 27%, @ 281¢0, for soft white, and 29%. for powdered, crosbed and granulated, Towacco.—-A little more doing in the article. Sales 813 pn sagt at Llc. @ 32c,, 196 cases seed leat at Do. a 20r, Tatrow was dull and heavy, with sales of 30,000 Ibs. BLITX 18%6. 4, ~ Wrexey.—Tho market was @ shade firmer, with « Moderote business doing at the advance. Sxiee of 600 bbis., at $l 92 a $194), for Btate and $1 83» $194 for Western, v. Mr. Fxos Pamen, senior editor and of the Racks county Inilligencer, ded wt hu te Doylestown, on Friday, the 26th uitimo. His age was Wirty-oight years NEW YORK HERALD, THURSDAY, DECEMBER 15, 1864;. The New Bill as Passed the House of Representatives on Monday, Dec. 12, 1864, and Sent) to the Senate. A Bill to Esta! ih @ Uniform System of Bankruptcy Throughout the United States. OF COURTS OF BANKRUPTCY AND THER JURISDICTION. Be tl enacted by the Senate and House of Hep esentativ-s of the Univd States of Amesioa in Cengress assembl d, That the several district. courts of the United Siates be, reby are, constituted courts of bankruytoy, and they sball bave origwal jurisdicti n in their resped- tve districts in all matters and proceedings in bank- raptoy, aud (hey are hereby authorized to hear and ad Judicate upon the same according to the provisious of this act. The satd courts shall be always open for the trang- action of business under this act, and the powers and Jurwediction hereby granted and covferred shall be exer- ciked a8 wei! in vocation as im term time, and a judge sit- ting ot chambers shall have the same powers and juris diction, including the power of keeping order and of pun- ishing avy contempt of bis autbority, as when sitting io court. And the jurtdiction hereby conierret sball extend to «ll cases and controversies arising between the baokrupt and any creditor or creditors who #! claim any debt or demand under the bankruptcy; to the coliec. on Of all the assets of the bankrupt; to the collec. tion o all the assets of the baokrupt; to the ascertain- ment and liquidation of the lieng and other specific claims: there n; to the adjustment of the various priorities and conflicting interests of all parties; and to the marshalling Qud disp sition of the ditlerent funds and assets, 60 ug to secure the rights of all parties and due dia. tribution of the assete among all the creditors: acts, matters and thugs to be wader and im virtue of the benkraptey, until the finst distribution and settiement o” the estate of the bankrupt, and the close o! the proceediugs in bavkrupicy. The said courts ghail have full authority to compel vbedience to ali orders and decrees passed by them in baukruptey, by process of coviem t and other remedial pr to the same exteut that the circuit conrts now bave in apy suit pe Said courte may sit for tho t bankruptcy at aoy place ia the disirict, of which place, and the time of holding court, they sball gave given no- tice, as well as at the places designated by law for hold- ing such courts, Swo. 2. And be it further enacted, That the Ffevo- ral ciroult courts of the United States within and for the districts where the proceedings in bankruptcy shall be pending, shall hivo a gene- ral superibtendence amd jurisdiction cf all cages and questions arising under this act; and, except when Special provision is oiberwike made, may, upon bill, pe tition of urber proper process of any pirty aggrieved, hear and determine the caso as a onurtof equity. the powe!s aud vurisdiclion bere»y granted may be exer. ised either by said court or by any justice thereof in term time or vavatim, Said circuit’ courte shall aiso have concurrent jurisdiction with the district courts of 0 district, of all euits at law or in equity which all B8 brought by the assizneo in bikruptcy against any person cfaiming an adverse interest, or by such pers against such assignee, touch: ing ‘any property or rights of property of said baokrupt transferrable to or vested in such assi;nee; but no suit at law or in equity shall, in any case, be muiotainable by or against euch assignee, or by or aguinst aby person claiming an adverse intercet, touching the property and rights of property afore-aid, in avy court whatsvevcr, unless the same shall be brought within two years from the time the cause of action accrued, ¢ OF 1H8 ADMINISTRATION OF THE LAW IN COURTS proy. Seo. 3. And be il further enacted, That it shall be the duty of the judges of the circuits courts of the United States within and for the several districts, to appoius in said districts in each circuit, at or before the time this act takes effect, one or More rezieters in Divkruptcy, to assist tbe judge a the district court ip the performance of his duties uuder this act. Incase of disagreement between the judges of said court ug to such app intments, or in caseo: vacancy in (he office of district judge, the presiding judge of ube cir- cuit court sball determine the number of appintmentsto bo made and make such appointments. No person‘shall be eligible to Such apponiment unless he sha e been @ counsellor of said con't, or of the supreme court of the State in which he resides of at least seven years’ stand. OF BANK: ivg, or one who holds or who brs held the oflice of judge of a St court. Before entering upon the duties of bis office, every person so appointed a regisier in baukruptey shall give bona to the United States, with coudition thut.be will (aithfutly dis- charge the duties of bis oflice, in @ sum not less thin one thousand doliars, to be fixed by suid court, with sureties satisfactory to suid court, or to either of the justices thereo’; and be shall in open court, take acd subscribe tbe oath prescribed in the act entitled « AD act to pre: scribe 4 outh of oflice, and tor other purposes,” ap- proved July second, eighteen hundred and sixty two, and @igo that be will not ducing bts continuance in office be, directly or indirectly, interested io or benefited by, the foes or emoluments arising from woy suit or matter pend- tog In bawtiruptcy fu either the district or circuit courts in his district. adjudication of urrender of any backrupt. to uty. to make bankruptcy , to recel iT administer oaths in all procoedings before bim, to hold and presid meetings of creditors, to take proof of Ht computations of dividends and orders Of distribution, and to furnish the assixnee with a cer- tided copy of such orders, and of the schedules of credi- tors aud assets fled in each case, to audit and pass ac- counts of assicnees, to grant protection, to pass the last examination of any bankrupt in casea wherever the assignees and creditors do not oppose, snd to ait. in chambers, and despatch there ‘such part of the administrative business of the court, and such uncontosted matters as shall be detived iu goneral rules and orders, or as the district Judge sball in avy particular manvor direct; and he sbail also keep a docket of all cases in which be shal! act, and make thereia short memoranda of bis action in ai cases, which docket shall be kept in the office of the clerk of the district court, and shall forma part of the Minute book © the proceedings of said court; and an: regwter of the court may act for any other regis thereof; Provided, however, that nothing in this Section contained shail empower @ register to commit for contempt. of to hear a disputed adjidtoation, or avy question of the allowance or suspension of an ‘order of discharce; but in all matters where an issue of fact or of Jaw is raised and contested by avy p rty to the pro. ceedings beiore Wim, it shill be his duty to cause the question or issue to be stuted by the opposing parties ti writiog, and he sball edjourn the same fnto court for de- cision by the udge. No register shail be of counsel or attorney, either in or out of court, in any suit or matter pending im bankruptey in either the circuit or district court of his district, nor in an appeal therefrom: nor shall he be executor, administrator, vuardian, commis wer, aopraiser. divider or assignee, of of upon any estate within the jurisdiction of e'tber of said courts of Davkruptey. nor be interested to the tees or em: arising from either of eaid trusts, ‘The said registers shall be fixed by t¢ Judges of the circuit court, and shall not exceed tn any cage the gum of two thousand dollars per anvum, in addition to the necessary travelling and inc devtal expenses, ond shall be paid in the order of their appointment, out of the fees hereinafter required to be paid in the course of proceedings authorized by this act. No greater amount sball be paid for such salaries than shali be received for fees, and in case there shal! bea eurplus of (ees after paying the aelaries, such surplus shall be invested under the direction cf the court, to meet inture defictencies Sec, 8, Ard be wt further maced, That the judge of tho district court may direct a rogister to attend at any place within the district, for the purpose of hearing snch volun! applications urder this act as muy not be opposed, tending any meeting of creditors. or receiving any proois ot debts, aod generally, for the prosecution of any bank- Tuptcy or other proceed iegs under this act, and the travel. Sling and incidental expenses of such register, and of any clerk or other officer attending him, incurred in 80 acte jog, ehall be settled by enld court and paid owt of the as- Seis of the estute ip respect of which such register has so acted; or if there be po such ussets, or if the assets shall be ineuflicient, then euch expenses shall form a part Of the costs in the case or cases in which the reginter shall have acted in such journey, to be apportioned by the judge: and such register, 80 acting, shall bave and exercise ail powers, except the power of commitment, vested in the district court for the summoning at amination of peraous or witnesses, and for requiring the production of books, papers and documents: Provided of persons and witnesses taken id register, and all acts dove by hit shall be reduced to writing and be signed by shail be fled in the clerk's office ax part of the ings, Such register shail be subject to removal by the Jndgon of the circuit court, and all vacancies occurring by such removal, or by resignation, change of residence, death or disability, shall be promptly filied by other it persons, unless said court shall deem the continuasce of thetpartioular office unnecessary. Sec. 6, And Le it further enacted, That any party shall, during the proceedings be ore a register, be at liberty to take to opinion of the district Judge upon any point or matter arising in the course of auch proceed ings, or upon the result of such proceedings, ehsil be stated by the register in the ehape of hort certificate tothe judge, who shall sign the same if ho approve thereof; and svch certivonte, so signed, ebail be binding on all the parties to the proceeding; but every sdcb certificate may be discburzed or varied by the Judge at chambers or In open court, In auy bankruptcy, or tn avy other procesdings within the jurisdiction of the court under th’s ect, the parties concerned, or submit- Ming to euch jnrisdiction, may, at any stay coedings, by consent, state any question oF special case for the opinion of the mout of the court sha ated in eneb spect bim, and je that either party may appeal, M, in such case, an appeal is allowed by this act, The parties may also, if they think fit, agree that, upon the wostion ce goestions Talred by such apeciai caso being fai'y decided, atum of money, fixed by the parties, or to be ascertained by the court, or in such frm Bf the court may direct, or any property, or the amount of ay digputed debt or claim, sbali be paid, delivered or trana- ferred by ope of such parties to the other of thet ther or without costa, 1. And be it further enacted, That parties and witbensea summoned before a rogister aball be bouad to tend fo pursuance of such summons at the pirce and time designated therein, and shall be entitied to protec. tion and be Iteble to process of contempt in like manner a5 partion and witnesses are now Liable thereto itt care of defacit in attendance under any writ of aybponpa; and all porsons wilfully aod corrnptiy awearing, or affirming faleoly betore a register, sbali be liable to all the penal. es, punishments and consequences of perjury. If any porron examiwed before a register shall refuse or de Glino to answer, oF to swear to, or. sian bis exami. wken, the rogieter whalf refer the matter ho shell have power to order the pereca ne, = Ba hoor} thereby ee bts person be com 1y law to aoswer such ination, and otherwise to bo lable to be punished for oontemrt. Kno, 8. And be tt furthet enacted, That if the paseo of the United States within any district certify 0 the President of the United the business of the district court ia baak- By Ag! instrument Key Band, 0 jors ani President and au to appoint aud com mission, by aud with the advir@ and conseut of the ‘Senate, one or more assistant district ‘udges, who shall sit in bankruptey only, aud : the transaction of the busi- Bess of that court arising under tbe jurisdiction thereof Created by this act; aud such assistant district judges sball have all the powers of tho district judge in ba k- Tuptcy, and exercise ail the ju said court by this act; the the salary fixed lor the dis be paid out of the Trea. ‘ders and decrees Assi pidge in pro- ceedings before him sbali have tke same eifect aud au. thority as if renderadjby the district :udge, aud rig said assistant judges may hold the district court in bunk. Tuptcy, or ait at chambers in proceedings under this act, while the district judge is acting in the same capioity or holding court at the regular terms prescribed by law. Sue. 9, and be it further enacted, That whenever, by reason of cases and proceediogs under the jurisdiction Greaied by ths act, the busines: of the circutt court fo avy cireuit shall have so accumulated that the business of said court not be performed by tl judzes thereof witbin such reasonabie time as the in- terests of suitors therein demand, acd such fact is made known to the President of the United States the circuit judge upd all the district judges of said irewit, it lt be lawful for the President, and he is hereby authorized. by and with the advice and consent Of the Senate, to appoint and commission av assistant Cirouit judge for said circuit; and such assistant circuit Judge shall have all the powers and authority of the cireait judge in bearing and determining cases arising under the jurisdiction created by this act; and all orders and decrees made and entered iv said circuit court while suid assistant judge may be sitting therein, in such eases, shall have the same effect and authority as if the circuit judge cowcurred therein; aud the circuit court in bank Tuptey, held by said assistant circuit judge, with or without the concarrence of ary district judge, shall be always open. and may be held notwithstanding the cir- cuit judge may be exercising the same jurisdiction at chambers or during the regular terms of said cours, No person shail be eligible to said oflico of assistant district judge, or of assistant circuit judge, unless he shall have ‘been « counsellor of said court of at least ten years’ stand- ing, or holds, or has held, the office of judge in one of the superior céurts of the Ststes within said circuit. The silary of snid assistant circuit judge shall be $5,000 per fl haa shall be paid out of the treasury of tho United tates, OF APPRATS AND PRACTICE. Sec. 10, And be tt furtier enact-d, That appeals may be taken from tho district to the cirouit courts in all cases fn equity, and writs of error may be allowed to said circuit courts from said district courts in cases at law under the jurisdiction created by this act when the debt or dam: claimed amount to more than five hun- dred dollars; aud any supposed creditor, whose claim 13 wholly or in part rejected, or an assignee who is dis- satisfied with the all wance of a claim, may anpeal from the decision of the district court to the circuit court for the same district: but no appeal shall beatlowed in any case from the district to the circuit court unloss it is claimed, and notice given thereof to the clerk of the dis- tri court, to be entered with the record of the proceed- nd also to the assignee or creditor, as the caso may or to the defeated party in equity, within ten days after the decision appealed from. ihe appeit shall bo entered at the term of the vlrcuit court which shall be first hold within and for the district next after the expi- ration of ten days (rom the time of claiming tho same, But if the appellant in writing waives bis appeal before | the entry thereof, proceedings may be had in the district court as if no appeal had been taken, and no appeal shall be allowed unless the appetiant at the time of claiming the same shal! give bond in manner now required by law in oxses of such appeals, No writ of error shai! be allowed unless the party claiming it shall comply with the statutes regulating the granting of such writs. Seo. 11. And be it further enacted, That vo appeal or writ of error shall be:atlowed in any case from the circult courts to the Supreme Court of the United States, unless the matter in dispute in such case shall exceed two thou- ‘sand dollars, or unless the cirenit court before which ch cause shall be tried shall certify that the questions issue therein are of such !mporiance that they deserve consideration and decision by the court of highest resort. See. 12. And te it further enacted. That the Suvreme. Court shail designate ove of their number, who, with the sistance of five commissioners to be appointed by said justice designated, snd subject to the provisions of this act shall frame general orders for the following pur- poses:—For regulating the practice and procedure of the district courts in bankrupicy, and the several forms of petitions, orders, and other proceedings to be ueed in said courts, im all matters under this act; for regulating the duties of tho various officers of said courts; for wulating the fees payable and the charges and is to be allowed, except such us aro es tablished by this a or by law, with reapect to all proceedings io bavkruptcy before said courts; for regulating the practice and procedure upon appeals; for regulating the thing, custody and inspection of ind geerally for carrying tho provisions of this {ter such genéral orders shail have been 80 framed, they, or any of them, may be reecinaed or varied, and other borer orders may be framed in men- ner aforesaid; and all such generat orders so framed shail, from time to time, whem approved by the justice of the Supreme Court so designated, be reported to Con- Kress with such suggestions as said justice may prove. The district judges shall be eligible to act as such com- missioners. VOLUNTARY BANERUPTCY—COMMENCEMERT OF PROCEEDINGS. ‘Seo, 18. And be tt further boner ie eae Heed residing within the jurisdiction of the Unit tates, owing debts provable under this act exceeding the amount of two bondred and fi'ty dollars, spall apply by ition, addressed 10 tho judge of the judicis! distriet in ‘hich Boch debtor has rosided or carried on business for the six months next immediately preceding the time of filing such petition, or for the longest period during such gix men. setting forth bis piace of resitence, bis fnability. to” pay all his dobts in full, his williagness to surrender all bie estate and oflecta for the benefit of his creditors, and his dosire tw obtain the benefit of this act, and shall annex to his petition a schedule, veri fled by onth before the court, or before a recister in of the bankruptcy or before one of the commission Circuit court of the United States, containtt true statement of all debts, and. on for an whom due, with the piace of residence of each creditor, if known to the debtor, and if not known the fact 10 be 80 Stated. and the sum due to each creditor, also the nn- ture of each debt or demand, whether founded on writ- ten security, obligation, contract or otherwise, and also the true cause snd consideration of such indebtedness in possible to enc case, aod the place where such indebtedness accrued, and a statement of any existing mortgage, pledge, lien, judgment or collateral or other security given for the p-yment of the game! sod shall also annex to bis petition an accurate inventory, verified io like manner, 0: ail bis estate. both Teal and personal, assignable under this nct, describ. ing the same, and siting where It te situated, and whether there are any. and if 80, what encumbrances thereon, and in like manver of all the pr:perty tor which he claims exemption from the operation of this act, de- signating the same as such property, tho filing of such Petition shail be an act of bankruptcy, and such pett- tiovér eball be adjudged a bapkrayt. And the judge of the district court, or if there be no opposing party. any Tegister of sald court, to be designated by the judge. shall forthwith, if he be satisfied that the debts due from the petitioner exceed two hundred and fifty dollars, isene a warrant, to be he et by such judge or register, directed to the marshal of raid district, or to one of bis deputies: or to some suitable person specially deputized tor that purpose, authorizing bim forthwith as messouger, to take possession of all the estate, real and personal, cf the debtor, except such as may be by the laws of the State in which’such judicial district is situated exemptfrom at- tachment, and of all his deeds, books offaccounts and pa- pers, p the same safely until the appointment of fo assiznce; to publish notices In such newspapers as the warrant specifies, send written or printed notice. by mail Or otherwise, to ail creditors upon the schedute fed with the devtor’s petition. or whose names may be given to bim,-1n addition, by the debtor, and to give such personal or other notice to eny persons concerned as the warrant specifies; which notice shall state:—First—That a war. rant has been issued against the estate of the debtor, Second—That the payment of any debts and the delivery of any property belonging to such debtor to him or ior bis vse, and the transfer of any property § bim, are forbidden by law. Third—That a meeting of the cred- itors of the debtor, to prove their debta and choose ope or more assignees bis estate, will be held at a court of bankruptcy. to be holden at a time and place designated in the warrant, not less than ten nor more than ninety days after the issuing of the same. OF ASSIGNMENTS AND ARSIGNER?, See. 14. And be it further enacted, That the messenger ‘shall, a8 8000 as may be, dem: od receive from the debtor and other perrons ail the estate in his or their Possession, respectively, which is herein ordered to be asnigned, with all the deeds, booke of account and papers Of the debtor relating thereto; and, upoo demand made theretor, the debtor shall forthwith deliver tothe mes- senger such part of the estate and other things demanded aa is within [his possession or power, shall diss close the situation of such parte thereof an ure in the possession of any other person, so as to enabie the messenger to demand and receive the some. At the meeting, held in pursuance of the notice, oneof the re- gisters of the court shafl preside, and the messenger shall tmoke return of the warrant and of bis dotngs therei and if it appeara that the notice to the creditors has not been ‘as required to the warrant, the meeting shail forthwith be adjourned, and a new notice given as re: quired. If the debtor dies after the tasuing of the war rant the proceedings shail be continued and concluded in Jike manner aa if be had lived, Seo 15, And be it further enacted, That the creditors shall, at the first meeting held after due notice from the Messenger, 10 presence of a register designated by the court, choose one or more assignees of the estat of the debtor; the choice to be made by the greater part in value of the creditors who Proved their deta, pro- ‘vided that when tl im ber of creditors present amousts to ti 4 lene ten the votes of two, at least, shall be necessary fora choice, and when the number of credi- tors amounts to ten or more, the votes of three, at least, #hall be necessary for a choice. If no choice te made by the creditors at suid meoting tho jodge, or, if there be no opposing interest, the register sh all appoint one or more inted, fails nees; if an nee, FO Chosen or ay within five daya to express in writing of the trot, the judge or register may fill the vacuncy, All elections oF appointments of assignees Bball be subject to the approval of the judge; and when in bis jodment it is for any cause needful xpedient, he may appoint additional assignees or order a new elec. tion, The judge at any time may, and, upon the request in writing of any creditor who has proved his giaim, shall require tne assignees to give good and sufficient bond to the United States, with a condition for the faithful Pabiaeate Korg] discharge of bie duti PM yd b oa shall 6 APT the judge of regieter by his endorsement ioresn, sail” be dled with “the record of the caso, and jnure to the benefit of all creditors proving their claims, and may be prosecuted in the manner provided by law for the ution of marshals end other bonds given to the United States If the assignee falis to give the bond within auch time ay the judge bot exceeding ten days after notice to him of such ee Jes aball remove him and appoint another 16, And be tt further enact?, That as food ae Appointed and qualified, the Indge, ory where there is no oppost interest, the jer, eball, ‘Avwign ned convey to or perpowal, of the the estate, reat 0 b {ngs to bankrujtey, and thereupon, by operation of law, all (be property aud estate, both real aud Seased by bim, and which ‘ge could have iawfuily held, s0ld, assigned or conveyed, or which could have beeo tekea io execution of avy judgment or decree against him at the time of the filing of the petition by or agatust him; all goods «nd chattels which the bankrupt, at the time be becomes a bankrupt, shall, by the consent and per- ‘Mission of the true owner thereof, have tn his possesion or subject to bis order or disposition, or whereo! he had e, alteration or disposition as rsoDal, pos : mortgage of any vessel or of otner goods or chattels made as security for any debi debts in good faith or for present cousiderations aud otberwise id, and duly recorded, pursuant to any Statute of the United States, or of any State, shall be alidated or ted hereby; all the property con yed by the bapkrupt in fraud of bis creditors; all Fights in equity, choses in action, patents and patent rights and copyrights; all debts due him, or any person for his use, and. all liens and gecurities therefor; and all bis rights of action for property or estate, real or personal, and for any cause of action which the baakrupt hed against avy person arising trom contract or {rom the unlawful Waking oF @ateation of the property of the bankra ind all his rights of redeeming such property ith the like right, title, power and authority » Manage, dispose of, ue for, and recover or de- fend the same, as the baukrupt might or couid bave had if no assignment had been made, shall, in virtue of the adjudication of bankruptcy and the poiutmn of bis assignee, be at ouce vested ju such assignee: and he may sue for and recover the said estate, debis and eflects, ‘and may prosecute and defend ali suits at law or in equity, pending at tho time of the adjudication of bankruptoy,in which such bankrupt is a party in his own name, in the same manoer and with tbe like effect as they might have been presented or defended by Such bankrupt; and acopy, duly certilled by the clerk Of the court under the seal thereof, of the assignment made by tho judge or register, as the case may be, to him ag ussigneo, shall be conclusive evidence of his title As such assignee to take, bold, aue for, and recover the property of the bankrupt, ag hereinbefore mentioned. No person shall be entitied to maiatain an action assignee jn bankruptcy for anything done by him as Assigneo, Without previously giving him twenty day notice of such action, specifying the cause thereol, to the end that such assignee may baye an opportunity of ten- dering amonds, should he see fit to do 80. No person Bball be entitled, as against the assignee, to withhold from him possession of any books of” account of the bankrupt, or cliim any Hen thereon; and no sult in which the assicnee is a party snail be abated by bis death or removal from office, Dut the game may bo prosecuted and devended by his Successor, or by the surviving or remnining assignee, as tbe ease may be The assignee shall have authority, under the authority and direction of the court, to redeem and discharge any mortgage or conditioval contract, or pledge or deposit, or lien upon aby property rei personal, wheneuer payable, and to tender due periorm- ance of the condition thereof, or to sell the same, subject to such mortgage, lien, or other eucumbrances. Thededtor shali also,at the request of the uerignee,and at the ex- pense of the estate, make and execute any instruments, desds, and writings which may be proper, to enablo the assignee to pozsess himsel! fully tof ail the agects of the bankruptcy. The ¢@ shall immediately give notice of bis appointment, by publication at least once a wook for three successive weeks, in such uewspipers as shall, for that purpose, be designated by the court, one of which shall nave the largest circulation ia the district, and shail, witbin six months, cause the assignment to him to be recorded in every registry of deeds within the United States where a conyeyauce of any lands owned by the bankrupt ought by law to be recorded; and the record of such assignment, or a duly cortifled copy thereof, shall be evidence thereof fn all courts. Sec. 17, And be it further enacted, That the aasignee shall demand and receive from the messenger and all otber persons, all the estate assigned. or intended to be assigned, under the provisions of this act; and he shall Sell all such unencumbered estate, reai and persoual, which comes to bis hands, om sucu termsas he thinks most ‘or the interest of the creditors; but upon petition of any person interested, and for cause shown, the court may take such order concerning the time, place and muanoer of sate, as will, in its Opinion, prove to the inte- rest ui the creditors; and the assigneosball keep a regular aceount of all money received by him ag assignec, to which every creditor shall, at reasovable times, havo tree resort, Sere. 18. And be it furth-r enacted, That the assignee shail have the like remedy to recover all said estate, debts and effects, iu his own name, as the debtor might have had if the decree tn bankruptcy had pot been rea: dered and no assignment had been made. If, at the time of the commencement of proceedings in bankruptcy, un action is pending in the name of the debtor for the 're- covery of @ debt or otber thing which might or ought to to the wssiguee by the assignment, the assignee Shail, if he requires it. be admitted to progecute the action in bis owo name, in hke manner and with like effect as 4 it bad deen originally commeuced by him. No suit, pending in the name of the assignee, shalt be abated by bis death or removal; but upon the motion of the surviving, or remaining or new assiguee, ax the case may be, he be admitted to prosecute the sult, in like nd with like eliect as if it had been originaliy commenced by bim. In suits prosecuted by the assignee, acertiied copy of the assigument made to him by the judge or register shall be conclusive evideace of bis au- ‘thority to sue. nc. 19. And be it further enccted, That all attach- ™ments of the property of the debtor shall be dissolved by the decree in bankruptcy; but if a debtor, whose property is attached, conveys, be- fore judgment and execution in the suit, any part of such property, and subsequently thereto, and before execution issues, ings are commenced by or against — a a beg it Fhe Geb of ap ame ment might prevent the property attached from passing to the arsignee, the judge before whom proceedings in bank Fuptey are pending, or the court to which the 8s of attachment is returnable, may, upon applicat! on oF before the day of the third meeting of creditors by aoy person interested, aod cause shown therein, order the lien created by the attachment to continue. The ac- tion may be continued, or execution stayed, until the assiguee is chosen and takes charge of the action. The assignee may proceed with the action and levy the exe- cation at the cost and expense of the estate, and the amount recovered, exclusive of costs due to the original plaintiff, shall vest in the assignee, Seo, 20. And be it further enacted, That the assignee shail, a8 8000 a3 may be after receiving any money be- louging to the estate, deposit the game in some baok in hw name as assicuee, or otherwise keep it distinct and ‘apart from all other morey in bie possession: aud shail, 86 far as practicable, keep al! goods ana effects belonging to the estate separate and apart from all other goods in bia possessin, or designated vy appropriate marks, 60 that they may be castiy and clearly distinguished, and may not be exposed or liable to Le taken as his property or for the payment of his debts. When 1t appears that the distribution of the estato may be deiayed by iithca tion or other canse, the court may direct the tempo- Tary investment of the money belonging to such estate in securities to be approved by the judge or a regisier of said court, or may authorize the saine to be dep sited in Any convesient bank, upon svch interest, not exceeding the legal rate, as the bank may contract with the age signee to pay thereon, He shail give written notice to all known creditors, by mail or vtberwise, of all div!- dends, and such notice of mestings, after the ficst, as may ve ordered by the court. He stall be allowed and may retain, out of money i his hands, all the necessary disbursements made by him in the discharge of als duty aud a ressonabie compensation for his services, in the dis- cretion of (be court. He may, ander the direction of tbe court. submitany controversy arising in thesettiement of domands against the estate, or of debts due to it, to the determmation of arbitrators, 10 be chosen by him aod the ocber party to the controversy, ana may, under such direction, compound and settle avy euch controversy by agreement with the othor party as he thinks proper and most for the interest of the credite SHO. 21. And be i further «na Alter due notice acd bearing, signee if it appears, upon the complaint of any per- gon interested in the estate, that tho assignee has fraudulently received, concealed, embezzled or con- veyed away any of the money, goods, elects or other estate of the debtor, or has doen jnlerested ia any Suit at law in relation to said estate, for the purpose of Securing to himsel! « preference of priority over the other creditors, or bax in bis possession or control any portion of the estate with intent to apgropriate the same unlaw- fully to his own use, or hes been guiity ‘of frauculent activn in velation to the same. The court inay alzoremove assignee who, having removed from the district, un+ pnably refuses or neglects to discbarge his duties: and also fir any cause which, in the jndgment of tbe court, rendera uch removal necessary or expedient. At a meet: ing called by order of tbe court in its discretion for the purpose, and which shall be called upon the application of @ majority of the creditors in nomber and yaine, the creditors may, with the consent of the court, re- move apy assignee by such a vote as is horeic before provided for the choice of assignee, An assigneo may, with the conseot of tho judge, resign bis trust, and be discharged therefrom. Vacancies caused by death or otherwise ip the office of assignee may be filled by ap- pointment of the court, or at its discretion by an elec- (on of the creditors, in the manner horeinbefors pro- vided, at a regular meeting, or at a meeting called for the purpose, with such notice thereof in writing to all known creditors, and by such person, as the court ebal! direct. The resignation or removal of an aagigneo abali in no way releave bim from performing ail things requisite on his part for the proper closing up of bie trust and the transmission thereof to bis successore, nor shall it affect the liability of the princ:pal or surety on the bond given by tho agsignee. When, by death or otherwise, the numbor of assignecs is reduced, the cetate of the debtor pot lawfully disposed of shail vest in the remaining Assignee or aasigneen, and the pereous selected to fill ¥: cancies, if any, with the same powers acd datics relative thereto as if they were originally chosew. Any (ormer assignee, bis executors or admivistrators, upon request, pevee of the estate, shall make and execute | deeds, conveyanc daa. suravces, and do other lawful acts requisite to enable him to recover and receive all the estate. And the court mby pass all orders which it deem: pe dient to secure the proper fulfiiment of the duties of any former assignee, the rights and Interests of all per gov interested in the estate. No person who bas re. esived any preference contrary to tue provisions of this act sball vote for or be — pg a bond to ty, real or personal, sold, tran veyed by aa assigues, aball be alfected or impaired by reason of his ineligibility, An assignee refusing or on. reasonably neglecting to execute an instrument when tawfully required by the court, or disobeying @ lawful order or decree of maces in the premises, may be unished as for 8 contem| ‘4 ‘OF DEBTS AND PROOF OF CLATMA, further enacted, That all debts doe t tat the time of the adju- , and all debts then due bat not atire 1@ payable by tho t day is proved against the estate of the bankri bor fo" Egaloat the baokrupt for or on eonount of tom wrongfully taken, converted or held by bim, may be proved and allowed as debts the amount of the value of the property ao taken withneld, with interest. If the baskrupt shall drawer, indorser, surety, bail or guarantor . bond, note, or anpother speciality or con. of another and his lability absolute until at the adjudion- ‘ion of bapkruptey, the credivor may prove same payable fi dioation of bao! payable anti « made when no interest allowed, with the right to share in the dividend: contingency suall Lappen before the order (or dividend; or he may at any smecenin. to the the present \alue of ord ~ jiabiiity — liqu;dated, | which all sbep dope sack | Wahner ad the couth aha order’ siid‘be Ghul! be allowed mMOUn go ABcertained. Aby person lige arantor, or otherwise for the bank: | bt, OF to Btand in the place of the crediior if he shall ed the same, Falthougn such payments shall) after the procee in bankruptcy were yank ‘here the liable to pay ag | i or other debt falling due at fixed and stated periods, creditor prove for @ proportionate part thereo! up to the time of the bankruptcy, as if the same grew due | from day today, and not at such fixed and stated perk | ods, If apy bankrupt shall be liable (or unliquidated damages arising out of any contract or promise, or om ly taken, com account of aby goods or chattels verted or withheld, the court may cause such ane to be in suob mode as it may deem best, and sum 80 assessed may be proved agaings tue estate, Ne debts other than those above specilied shall be proved allowed against the estate, Bxc. 23. And Le ut further enacted, That, in all cases of mutual debts or mutuai credits between the ym the the account between them hail be debt set off against the other, aud ce only shall be allowed or ,» DUL no set. shall be allowed of a claim in its nature not prove ble against the estat Wheo 8 creditor bas a mor guge or pledge of real or personal property of the bank: ||| Tupt, or a lien thereon for securing the payment of a dedt | owing to him from tbe bankrupt, be shall be sdmitted ail @ creditor only for the balaoce of tbe debt, after deduct t jog the value of such property, to be asec by! agreement between him and the assignee, or by a sale | thereof, to be made io such manuer ag tue court shell direct; or the creditor may reiease bis claim upon suck property and be admitted to prove his whole debt. if the value of the property exceeds the sum for which it is se) held as security, the assignee may release to the creditor the bavkrupt’s right of redemption therein on receiving © such excess; or be way sell the property subject tw they claim of the creditor thereon; und in either caee the assignee and creditor, respectively, shall execute all deeds aud ngs necessury or proper to cofsummate the transaction. If the properiy is notso sold or released aud delivered up, the creditor shall pot be allowed to y part of his debs. Sno. 24. And be it further enacted, That no creditor proving bis debt or claim shall be allowed to maintata apy suit at law or in equity therefor, but shall be deemed to bave waived all right of action and suit uguinst the hapkrupt, and all proceedings already commenced or unsatisfied judgments. alieudy obtained thereom shall be deemed to be discharged aud surrendered thereby; and ho creditor whose debt is provable un der this act shall be allowed to prosecute tu flog judgment any suit at jaw or inequity therefor agaipgt to benkrupt, until the questionof the debtor's discuarg shall bave been determined; aud any such suitor pre | ceediug shall, uyou the application of the bavxrupt. B | Blayed to await the determination of the court in bik Tuptcy on the question of the discharge, provided there b no unreasonable delay on the f ibe bankrupt ines | deavoring to obtain bis discha: and provided, alse | that if the amount due the creditor is to dispute. the suli by leave of the court in Daukruptcy, may proceed to judg ment for the purpose of ascertaining the amount duc which amount may be proved in bankruptcy, but exect tion snel! be stayed as aioresuid. Jf avy bankrupt stab at the time of adjudication, be table ups ap Dill of exchange, promisgory note, or o.ber obligation & Tespect of distinct contracts asa member of two or mur firme carrying on separat® and distinct trades, and hay ing distinct estates to be wound up in bankruptcy, or @ a sole trader and ulso as @ member of a firm, the oir cumstance that such firms are in whole or in part com), posed of the same individuals, or that the sole c ntructor, ig also one of the joint contractors, shall not prevent, proot and receipt of dividend in respect of such distinet contracts against tue estates respectively liable apon suck | contracte. i BEC. 5. And be it further enacted, That all proofs of debts agaiost the estate of the bankrupt, by or ia beuall of creditors residiwg withia the judicial distriet) where tbe proceedings in Davkruptcy are pending, sbad- be made before ove of the registers of the court iu sas district, and by or in behalf of non-resident debtors berere: any register in bankruptcy in the judicial districts w wach creditors reside, or before any commissioner-of the circuit court autborized to administer oaths in any dis. triet, To entitt ciaimant agaiust the estate of ine bankrupt Lo Dave hig demand allowed, it must be verified by a deposition to writtug om oath or solemo aflirmatécc » setsing toreh on 4 tous the claimant has other his use, received any seourity or satisfaction whatever other than that by him set forth; thas the claim was procured tor purpose of influencing the under this act, and that 00 bargain or agreoment, or unplied, bas been made er entered into, by or on alt of sach creditor, to sell, traasi or said claim, or ap rapt, or to Tectly, apy money, erty, OF ation wi over, whereby the Vote of such ereattor for eadigues, or avy sciion on the part of such creditor or otber person in the proceedings under this act, is shall bein any way affecied, or and uo claim shall be allowed unless ail the state set forth in such deposition shall/appear to be true. oath or solemn affirmation shall be made by the toatifying of his own knowledge, unless from the United States, or prevented by some. star cause from testifying, in whlch cases the ad be verified in like maonor by the ageny of the Claimant tesiifying to the ieagt, information aod belie, and setting moans of knowledge, or, Ii in a foreign ‘of the creditor may be taken harem ¥i0e-congu! of te United states; it shall see fit, require or receive further e z iH [ rH 4 i E pertinent (> dence either for or against the admission of the claim. w= | porations may ly their claims by the oath or svien affirmation of ubeir president, casbeir or treasurer. If commission, it shall be signed by the deponent, and delivered or ob compare it with the books and accounts of the bank: and shall register, in a book to be kept by him for Purpose, the names of creditors who have proved claims, in the order in which such proof is received, me | the time of receipt of such prvof, and the amount | nature of the debis, which books shall be open tehe inspection of all the creditors. The court may. oabe application Of the assignes, or of any creditor, oF of oe bankrupt, Or without auy application, examine upon th the bankrupt, or any person tendering or who has mae Provt OF ci person capab: of xiving ev debt sougbt to be proved. duly proved, or where the proof shows the cliim tobe fonuded ia fraud, iilegality or mistake. i} . 26. And ve i further enacted, That when @ clim || is presented for proof before the election of ihe . assignee, and the judge entertuins doubts of ta ve of of the right of the creditor to preve aud is of opinion that such validity or righ ought to be investigated by the assiguee, he may Postpone the proof of the claun until the asskoce is- ehoven, Avy person who, after the approval of tals act, Shall have accepted any erence, having reasonable, cause to believe that the same was made or given by the debtor, contrary to avy provision of this act, shall not prove the debt or clan cn -account of which ‘the prefe- rence wus made or givec, nor sball he receive any divh .dend therefrom. The court shall allow all debts duly @ list thereof to be made and stors; aod any creditor may) all meetings by bis duly constituted attorney as though personaily present. Sac, 27. And be it furth r enacted, That a suy croditor who takes a appeal to tbe circuit court the devision of tho district court rejecting his claim, tr] whole or in part, sball, upon entering his appeal to the circuit court, file in the clerk's office thereof a stater in writing of his claim, setting forth the same, substan tially, as in a deciaration for the same cause of action law, and the assignee shall plead or answer thereto like manner, and like proceedings shall thereupon be bad in the pleadings, trial and determination of the cause, as, im an action at jaw commeuced and prosecuted, in the ual inanner, in the courts of the United States, except tno execution shall be awarded against the assigned’ amount of @ debt found due to th final judyment of the court shail be conciusive, and the.lists of debts shall, if necessary, be altered to com.) form thereto. The party prevailing in the suit shall be. entitled to costs ag the adverre party, to be law; if recovered against wed out of the estate. A bill or deposited in the clerk’s office, may be delivered by ti register to the person who used it, upon bis filing a thereof, attested by the clerk of the court, who shall em dorse upon it the name of the party agaiugt whose estaul it has been proved, and tue date and amount of any divs! dend declared thereon, OY PROPERTY PFRISHABLE AND IN DIRPUTE. ‘Sno, 28. Amul be it further enacted, That when it apy to the satisfaction of the court that the ostate of debtor in the hands of & messenger or of an nssignes is A perishable nature, or hable to deteriorate in vaiue, court may order the same to be sold, in such manner may be deemed most expedient, under fthe direction tho messenger or assignee, as the case may be, who) shall hold the funds received In place of the estate dis.) posed of; and whenever it appears to the satisiaction| of the cours that the titie to any portion of estate which has come into possession of the assign is in dispate, the court may, upon the petition of the! | assignee; and after such notice to the claimant, bis agent | oreattorney, as the court shall deem reasonable, order if, to be sold, undor the direction of the assignee, who shall hold the funds received in piace of the estate dim. 1d the proceecs of the sale shall be oousidered: of the value of the property in any suit or controversy between the parties in any courte, But ta | provision shall not prevent the recovery of the property) | | from the possession of the assignoe by action of replevi ‘commenced at any time bofore the court orders the sale Sno, 29, And bet further enacted, That the court may, 6n the application of the asgignes i bankruptoy,, or of any: creditor, or without any application, at all times before, the discharge of the bankrupt, tequiro the bankrupt, Upon reasonable notice, to attend and submit to Aan ox. am ination, on oan, a all matters relating to the dis. poaal or condition of bis property, to hin trade dealings with others, bis accounts concerning same, to all debts due toor claimed from im, and Ww, wl aii be in writing, and shall be siqnedby and fied wi 7, . and bring him fort! ne vemlen. 04 wines, ie the Dankrups fe lmmprisoned, abeoos oF die sbled from attendance, the o ert may order him to be produced © may amech the teemtoniien G Seber ‘akon, aod om or mi irect tt ys (ted, st ouch dae aod plese wad bo uct paanuec ea tn