Page:Federal Reporter, 1st Series, Volume 2.djvu/567

 560 FEDERAL EBPOBTEE. �Amount of daims as admitted hy the bankrupt �against him, as per schedules filed, - $71,584.30 �Amount of claims or debts proven before the �register, .... 43,984.12 �Debts increased by proof of larger amoants than set forth in bankrupt's schedule, as assumed in the argument on both sides, - - 8,281.39 �— which, added to the aggregate scheduled debts of $71,- 584.30, $8,281.39— $79,865.69— being the total liability as principal debtor of the bankrupt, without regard to the time the debts were contracted. �One-third in value, $79,866.69, - - $26,621.89 �The amount of the claims of the creditors, who have assented to the bankrupt's discharge, $24,667.60, which, deducted from $26,621.89, leaves a deficiency of $1,954,29, - - $26,621.89 �24,667.60 ���$ 1,954,29 Prior to June, 1874, 60 per cent, of proven claims was nec- essary for the discharge of the bankrupt without the assent of his creditors, and if the bankrupt had no assets, or not the required amount, he must have had a majority in number and in value of his creditors who had proven their claims. �The law as it then stood was in these words: "Section 5112. In ail proceedings in bankruptcy commenced after the first day of January, 1869, no discharge shall be granted to a debtor whose assets shall not be equal to 50 per centum of the claims proved against his estate upon which he shall be liable as the principal debtor, unless the assent, in writing, of a majority in number and value of his creditors to whom he shall have become liable as principal debtor, and who shall have proved their claims, is filed in the case, at or before the time of the hearing of the application for discharge ; but this provision shall not apply to those debts from which the bank- rupt seeks a discharge which were contracted prior to the first day of January, 1869." �Section 9 of the act of June 22, 1874, (18 U. S. Statutes, ����