Page:United States Statutes at Large Volume 30.djvu/599

 560 FIFTY-FIFTH CONGRESS. Sess. II. Ch. 541. 1898. CMI of =¤¤¤¤¤z by e The court shall call a meeting of creditors whenever one-fourth or °°°"' more in number of those who have proven their claims shall Ble a written request to that effect; if such request is signed by a majority of such creditors, which number represents a majority in amount of such claims, and contains a request for such meeting to be held at a designated place, the court shall call such meeting at such place within . thirty days after the date of the Bling of the request. rmi mann;. f Whenever the affairs of the estate are ready to be closed a Bnal meeting of creditors shall be ordered. V¤¤¤r¤=·¤ ¤¤¢¤¤¤s¤· Sec. 56. Vornns Arr Mnnrmes or Cnnnrmoizs.-—a Creditors shall · pass upon matters submitted to them at their meetings by a majority vote in number and amount of claims of all creditors whose claims have been allowed and are present, except as herein otherwise provided. Secured cwlircrs- b Creditors holding claims which are secured or have priority shall not, in respect to such claims, be entitled to vote at creditors’ meetings, nor shall such claims be counted in computing either the number of creditors or the amount of their claims, unless the amounts of such claims exceed the values of such securities or priorities, and then only for such excess. _ wfjggj c*;fm_gj•_},.·¤=· Sec. 57. Pnoor mm Auowmcn or Grams.-a Proof of clanns ` shall consist of a statement under oath, in writing, signed by a creditor setting forth the claim, the consideration therefor, and whether any, and, if so what, securities are held therefor, and whether any, and. if so what, payments have been made thereon, and that the sum claimed is justly owing from the bankrupt to the creditor. t;’m:g=¤¤¤ 0;,5; b Whenever a claim is founded upon an instrument of writing, such iuimarmiiiieu. instrument, unless lost or destroyed, shall be Bled with the proof of claim. If such instrument is lost or destroyed, a statement of such fact and of the circumstances of such loss or destruction shall be Bled ~ under oath with the claim. After the claim is allowed or disallowed, such instrument may be withdrawn by permission of the court, upon leaving a copy thereof on Ble with the claim. » @{2*:;;* °1¤**¤¤*" cClaims after being proved may, for the purpose of allowance, be 'Bled by the claimants in the court where the proceedings are pending or before the referee if the case has been referred. ‘ A1i·>w¤¤·=¤ ·>¤"¤¤¤*¤·¤· dtllaims which have been duly proved shall be allowed, upon receipt by or upon presentation to the court, unless objection to their allowance shall be made by parties in interest, or their consideration be continued N _ for cause by the court upon its own motion. °‘”""""""""""'“· eOlaims of secured creditors and those who have priority may be allowed to enable such creditors to participate in the proceedings at creditors? meetings held prior to the determination of the value of their securities or priorities, but shall be allowed for such sums only as to the courts seein to be owing over and above the value of their securities or priorities. mjtfj;:;j3g;jf,j}f***¤**•— f Objections to claims shall be heard and determined as soon as the convenience of the court and the best interests of the estates and the _ _ claimants will permit. P"""'""""""°"‘· g'l`he claims of creditors who have received preferences shall not be _ _ allowed unless such creditors shall surrender their preferences. mii§}YY['P’§'Q?{,*{§Y,,,'lj l¤Th€ VHIUB of Securities held by secured creditors shall be dorm-- Ssnmi .·¤··1n¤m. mined by converting the same into money according to the terms of the agreement pursuant to which such securities were delivered to such creditors or by such creditors and the trustee, by agreement, arbitration, compromise, or litigation. as the court may direct, and the amount of such value shall be credited upon such claims, and a dividend shall _ be paid only on the unpaid balance. mfg;;f{[jn,*°;;jfj'f_,J,§f i Whenever a creditor. whose claim against a bankrupt estate is w·.i·mm¤m.»r.. secured by the individual undertaking of any person, fails to `prove such claim, such person may do so in the creditor's name, and it' he discharge such undertaking in whole or in part he shall be subrogated to that extent to the rights of the creditor.