Page:United States Statutes at Large Volume 18 Part 3.djvu/212

 182 FOBTY-THIRD CONGRESS. Sess. I. GH. 390. 1874. I ¤ v 0 m p utivg attorneys, agent or agents, of such signers. _ and ill computing the num. ¤“¤*l>°*‘ °1" °*°d**°*¤ bor of creditors, as aforesaid, who shall _10in in such petition, creditors gggff gi, Q": Otheg whose respective debts do not exceed two hundred and fifty dollars counteu,oxeept,&c. shall not be reckoned. But if there be no creditors whose debts exceed said sum of two hundred and hfty dollars, or if the requisite number of creditors holding debts exceeding two hundred and fifty dollars fail to sign the petition, the creditors having debts of a less amount shall be reckoned for the purposes aforesaid”. Amendmen t or SEO. 13. That section forty of said act be amended by adding at the section 40. end thereof the following words: *‘And if, on the rcturn·day of- the order to show cause as aforesaid, the court shall be satisfied that the requirement of section thirty-nine of said act as to the number and amount of petitioning creditors has been complied with, or if, within the time provided for in section thirty-nine of this act, creditors sufficient in number and amount shall sign such petition so as to make a total of one-fourth in number of the creditors and one-third in the amount of the provable debts against the bankrupt, as provided in said section, the court shall so adj udge, which judgment shall be final; otherwise it shall dismiss the procedings, and, in cases hereafter commenced, with costs." Amendm e nt of Sec. 14. That section forty-one of said act be amended as follows: ¤¤¤¤1<>¤ 41- After the word “ bankruptcy,” in line eight, strike out all of said section, and insert the words, “Or, at the election of the debtor, the court may, in _ its discretion, award a venire facias to the marshal of the district, returnable within ten days before him for the trial of the facts set forth in the petition, at which time the trial shall be had, unless adjourned for cause. And unless, upon such hearing or trial, it shall appear to the satisfaction of said court, or of the jury, as the case may be, that the facts set forth in said petition are true, or if it shall appear that the debtor has paid and satisfied all liens upon his property, in case the existence of such liens was the sole ground of the proceeding, the proceeding shall be dismissed, and the respondent shall recover costs; and all proceedings in. bankruptcy may be discontinued on reasonable notice and hearing, with the approval of the court, and upon the assent, in writing, of such debtor, and not less than onehalf of his creditors in number and amount; or, in caseall the creditors and such debtor assent thereto, such discontinu— ance shall be ordered and entered; and all parties shall be remitted, in either case, to the same rights and duties existing at the date of the filing of the petition for bankruptcy, except so far assuch estate shall have been already administered and disposed of And the court shall have power to make all needful orders and decrees to carry the fore- ‘ going provision into effect". Amend in e n t o £ Sec. 15. That section eleven of said act be amended by inserting the sections 11 wd 4% words “and valuation " after the word “inventory" in the twentyfirst line; and that section forty-two of said act be amended by inserting the word 4* and valuation" after the word “ inventory " in the fifteenth me. . l,,,,,,,,,,,,,,,,,, of Sec. 16. That section forty-nine of said act be amended by striking section 40. out after the word “the" in line five, the words “ supreme courts", and inserting in lieu thereof “ district courts," and in line six, after the word “ States", inserting the words “ subject to the general superintendeuce and jurisdiction conferred upon circuit courts by section two of said act!' conrrosrrxon WITH omnmrous. Amend m .,,,1, to Sec. 17. That the following provisions be added to section forty-three section 43. of said act: That in all cases of bankruptcy now pending, or to be hereafter pending, by or against any person, whether an adjudication in Mw ,,1, how bankruptcy shall have been had or not, the creditors of such alleged c,,,,,_,,,_ 5* bankrupt may, at a meeting called rmder the direction of the court, and Notice upon not less than ten days’ notice to each known creditor of the time, place, and purpose of such meeting, such notice to be personal or other-