Page:United States Statutes at Large Volume 14.djvu/560

 530 THIRTY-NINTH CONGRESS. Szss. II. Ch. 176. 1867. vant, to an amount not exceeding fifty dollars, for labor performed within six months next preceding the adjudication of bankruptcy, shall be enti. Persons liable tied to priority, and shall be first paid in full: Provided, That any debt ?:‘l]:é;f;g;°éb’;l‘;; proved by any person liable,·as bail, surety, guarantor, or otherwise, for unm, &c_ the bankrupt, shall not be paid to the person so proving the same unul satisfactory evidence shall be produced of the payment of such debt by such person so liable, and the share to which such debt would he entitled may be paid into court, or otherwise held for the benefit of the AMF *h¤‘?¤ party entitled thereto, as the court may direct. At the expiration of and exhibit ac; case, or as much earlier as the court may direct, the court, upon request
 * g°;§fé°;;?§;`f° three mouths from the date of the adjudication of bankruptcy in any
 * _’:£5rji‘°·*’° of the assignee, shall call a general meeting of the creditors, of which

°' due notice shall be given, and the assignee shall then report, and exhibit to the court and to the creditors just and true accounts of all his receipts and payments, verified by his oath, and he shall also produce and file vouchers for all payments for which vouchers shall be required by any rule of the court; he shall also submit the schedule of the bankrupt’s creditors and property as amended, duly verified by the bankrupt, and a statement of the whole estate of the bankrupt 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 yet undetermined, _ Qreditors *0 and stating what sum remains in his hands. At such meeting the majorg?$;°lgn“;,-t° ity in value of the creditors present shall determine whether any and i s pro-. . . ceeds of estate. what part of the net proceeds of the estate, after deducting and retaining a sum sufficient to provide for all undetermined claims which, by reason of 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 the creditors shall attend such meeting, either in person or by attorney, it shall ASS;g,,%t0 be the duty of the assignee so to determine. In case a dividend is ordccide whc¤,&c. dered, the register shall, within ten days after such meeting, prepare a P,0,mdiu,,S if list of creditors entitled to dividend, and shall calculate and set opposite dividend is Si- to the name of each creditor who has proved his claim the dividend to d"°d· which he is entitled out of the net proceeds of the estate set apart for dividend, and shall forward by mail to every creditor a statement of the dividend to which he is entitled, and such creditor shall be paid by the assignee in such manner as the court may direct. _ Like proceed- Sec. 28. And be it further enacted, That the like proceedings shall be lggcagzggxgr had at the expiration of the next three months, or earlier, if practicable, earlier. _ and a. thiidmeeting of creditors shall then be called by the court, and a °fTLl:_;'gt;¤rg°t¤¤8 final dividend then declared, unless any action at law or suit in equity be Fi,mdi,,{_ pending, or unless some other estate or effects of the debtor afterwards deuds. come to the hands of the assignee, in which case the assignee shall, as soon as may be, convert such estate or eH`ects into money, and within two months after the same shall be so converted, the same shall be divided in manner aforesaid.' Further dividends shall be made in like manner as often as occasion requires; and after the third meeting of creditors no further meeting shall be called, unless ordered by the court. If at any time there shall be in the hands of the assignee any outstanding debts or other property, due or belonging to the estate, which cannot be collected and received by the assignee without unreasonable or inconvenient delay or expense, the 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 creditors proving such debts shall be entitled to a dividend equal to those already received by the other cred- .ugf3lg;fS“;Q_ itors before any further payment is made to the latter. Preparatory to the must and mary final dividend, the assignee shall submit his account to the court aud file °”d'*°"‘- the same, and give notice to the creditors of such tiling, and shall also