Semi-Weekly Journal, Volume 3, Number 252, Indianapolis, Marion County, 4 September 1841 — Page 2
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shall have a right, when their debts and claims become absolute, to have the same allowed them; and fuch annuitants and holders of debts payable in future may have the present value thereof ascertained, under the direction of such court, and allowed them accordingly, as debts in presenti, and no creditor or other person, coming in and proving his debt or other claim, shall be allowed to maintain any suit- at law or in equity therefor, but shall be deemed thereby to have waived all right of action and suit against such bankrupt; and all proceedings already commenced, and all unsatisfied judgmenu already obtainedJhereon, shall . be deemed to be surrendered thereby; and in all cases where there are mutual debts or mutual credits between the parties, the balance only shall be deemed the true debt or claim between them, and flie residue shall be deemed adjusted by theset-otT; al such proof of debts shall be made before the court decreeing the bankruptcy, or before some commissioner appointed by the court fur that purpose; but fucli court shall have full power to set aside and disallow any debt, upon proof that such debt is founded in fraud, imposition,, illegality, or mistake; and corporations to whom any debts are due may make proof thereof by their president, cashier, treasurer, or other officer, who may be especially appointed for that purpose; and in appointing commissioners to receive proof of debts, and perform other duties, under the provisions of this ret, the said court shall appoint such persons as have their residence in the county in which the bankrupt lives. Sec. 6. And be it further enacted. That the district court in every district shall have jurisdiction in all matter and proceedings in bankruptcy arising under this act and any other act which may hereafter be passed on the subject of bankruptcy, the said jurisdiction to be exercised summarily, in the nature of summary proceedings in equity; and for this purpose the said district court shall be deemed always open. And the district judge may adjourn any point or question arising in any case in bankruptcy into the circuit court for the district, in his discretion, to be there heard and determined; and for this purpose the circuit court of such district shall also be deemed ahvays open. And the jurisdiction hereby conferred on the district court shall extend to all cases and controversies in bankruptcy arising between the bankrupt and any creditor or creditors who shall claim any debt or demand under the bankruptcy; to all cases and controversies between sucli creditor or creditors and assignee of the estate, whether in office or removed; to all cases and controversies between such assignee and the bankrupt, and to all acts, matters, and things to be done under and in virtue of the bankruptcy, until the final distribution and settlement of the estate of the bankrupt and the close of the proceedings in bankruptcy. And the said courts shall have full authority and jurisdiction to compel obedience to all orders and decrees passed by them in bankruptcy, by process of contempt and other remedial process, to the same extent the circutt dotirts may now do in any suit pending therein in equity. And it shall be the duty of the district court in each district, from time to time, to prescribe suitable rules and regulations and forms of proceedings in all matters of bankruptcy; which rules, regulatiuns, and forms shall be sub ject to be altered, added to, revised, or annulled, by the circuit court of the same district, and other rules, and regulations, and forms substituted therefor; and in all such rules, regulations, and forms it shall be the duty of the said courts to make them as simple and brief as practicable, to the end to avoid all unnecessary expenses, and to facilitate the use thereof by the public at large. And the said courts shall, from time to time, prescribe a tariff or table of fees and charges, to be taxed by the officers of the court or other persons for services under this act, or any other on the subject of bankruptcy; which fees shall be as low as practicable, with reference to the nature and character of such servies. '. . Sec. 7. And he it further enacted, 'That all petitions by any bankrupt for the benefit of this act, and all petitions by a creditor against any bankruptunder this act, and all proceedings in the case to the close thereof, shall be had in the district court within and for the district in which the person supposed to be a bankrupt shall reside, or have his place of business at the time when such petition is filed, except where otherwise provided in thisact. And upon every such petition, notice thereof shall be published in one or more public newspapers printed in such district, to be designated by such court, at least twenty days before the hearing thereof; and all persons interested may appear at the timeand place where the hearing is thus to be had, and show cause, if any they have, why the prayer of the said petitioner should not be granted; all evidence by witnesses to be used in all hearings before such court shall be under oath, or solemn affirmation when the party is conscientiously scrupulous of taking an oath, and may be oral or by deposition, taken before such court, or before any commissioner appointed by such court, or before any disinterested State judge of the State in which the deposition is taken; and all proof cf debts or other claims, by creditors entiled to prove the same by this act, shall be under oath or so'emn affirmation as aforesaid, before such court or commissioner appointed
thereby, or before some disinterested State judge of
the State where the creditors live, in such form as mav be prescribed by the rules and regulations here
inbefore authorized to be made and established by the.
courts having jurisdiction in bankruptcy. But all such proofs of debts and other claims shall be open to contestation in the proper court having jurisdiction over the proceedings in the particular case in bankruptcy; and as well the assignee as the creditor shall have a right to a trial by jury, upon an issue to be di.MiaJ Kir enrh rnnrt. tn ft.;rtain fh va.)ulltv and a-
J Ll-i i.u vj . - j mount of such debts or other claims; and the result I . 1 I II L .. .'P r. I
therein, unless a new inai snau oe granica, ji in javorof the claims, shall be evidence of the validity and amount of such debts or other claims. And if any person or persons shall falsely and corruptly answer, swear, or affirm, in any hearing or on trial of any matter, or in any proceeding in such court in bankruptcy, or before any commissioner, he or they shall be deemed guilty of perjury, and punishable therefor in the manner and to the extent provided by law for other cases. Sec. 8. And be it further enacted, That the circuit court w.ithin and for the district where the decree of bankruptcy is passed, shall have concurrent jurisdiction with the district court of the same district of all suits at law and in equity which may and shall be brought by any assignee of the bankrupt against any person or persons claiming an adverse interest, or by such person against such assignee, touching any property Or rights of property of said bankrupt transferable to, or vested in, such assigneee; and no suit at law or in equity shall, in any case, be maintainable by or against such assignee, or by or against any person claiming an adverse interest, touching the property and rights of property aforesaid, in any court whatsoever, unless the same shall be brought within two years after the declaration and decree of -bankruptcy, or after the cause of suit shall first have Accrued. Sec 9. And be it further enacted. That all sales. . "transfers, and other conveyances of the assignee, of the bankrupt's property and rights of property, shall
be made at such times and in such manner as shall be ordered and appointed by the court in bankruptcy; and all assets received by the assignee in money
shall, within six'.y days afterwards, be paid into the court, subject to its order respecting its future safekeeping and disposition; and the court may require of such assignee a bond, with at least two sureties, in such sum as it may deem proper, conditioned for the due and faithful discharge of all his duties, and his compliance with the orders and directions of the court; which bond shall be taken in the name of the United States, and shall, if there ho any breach thereof,-be sued and sueab!er under the ordnv of such court, for the benefit of the creditors and other persons in interest. Sec. 10. And leit further enacted, That, in order to ensure a speedy settlement and close of the proceedings in each case in bankruptcy, it shall be the duty of the court to order and direct a collection of the assets, and a reduction of the same to' money, and a distribution thereof, at as early periods as practicable consistently with a due regard to thi interests of the creditors: and a dividend and distribution of such assets as shall be collected and reduced to money, or so much thereof as can be safely so disposed of, consistently wiih the rights and interests of third persons having adverse claims thereto, shall be made among the creditors who have proved their debts, as often as once in six months from the time of the decree declaring the banktuptcy; notice of such dividends and distribution to be given in some newspaper
or newspapers in the district, designated by the court; ten days at least before the order therefor is passed; and th! pendency of any suit at law or in equity, by or against such third persons, shall not postpone such
division and distribution, except so far as the assets
may he necessary to satisfy the same; and all the proceedings in bankruptcy in each case shall, if practicable, be finally adjusted, settled, and brought to a close, by the court within two years after the decree declaring the bankruptcy. And where any creditor shall not have proved his debt until a dividend or distribution shall have been made and declared, he shall be
entitled to be paid the same amount, pro rata, out of
the remaining dividends or distributions thereatier made, as the other creditors have already received, before the latter shall bo entitled to any portion thereof. Sec. 11. And be . it further enacted, That the assignee shall have full authority, by and under the order and direction of the proper court tn bankruptcy, to redeem and discharge any mortgage or other pledge, or deposite, or lien upon any property, real or personal, whether payable in presenti or at a future day,, and to tender a due performance of the conditions thereof. And such assignee shall also have authority, by and under the order and direction of the proper court in bnnkruptcy, to compound any debts, or other claims or securities, due or belonging to the estate of the bankrupt;' but no such order or direction shall be made until notice of the application is given in some public newspaper in the district, to be designated by the court, ten days at least before thehearing, so that all creditors and other persons in interest may appear and show cause, if any they have, at the hearing, why the order or direction should not be passed. Sec. 12. And be it further enacted, That if any person who shall have been discharged under this act shall afterward become bankrupt, he shall not again be entitled to a discharge under this act, unless his estate shall produce (after all charges) sufficient to pay every creditor seventy five per cent, on the amount of the debt which shall have been allowed to each creditor. Sec. 13. And be it further enacted, That the proceedings in all cases in bankruptcy shall be deemed matters of record; but the same shall not be required to be recorded at large, but shall be carefully filed, kept, and numbered in the office of the court, and a docket only, or short memorandum thereof, with the numbers, kept in a book by the clerk of the court; and the clerk of the court, for affixing his name and the seal of the court to any form, or certifying a copy thereof, when required thereto, shall be entitled to receive, as compensation, the sum of twenty-five cents, and no more. And no officer of the court, or commissioner, shall be allowed by the court more than one dollar for taking the proof of any debt or other claim of any ereditor or other person against the estate of the bankrupt; but he may be allowed, in addition, his actual travel expenses for that purpose. ' Sec. 14. And be. it further enacted, That where two or more persons, who are partners in trade, become insolvent, an order may be made in the manner provided in this act, either on the petition of such partners, or any one of them, or on the petition of any creditor of the partners; upon which order all the joint stock and property of the company, and also all the separate estate of each of the partners, shall be taken, excepting such parts thereof as are herein excepted; and all the creditors of the company, and the separate creditors of each partner, shall be allowed to prove their respective debts; and the assignees shall also keep separate accounts of thejoint stock or property of the company, and of the separate estate of each member thereof; and after deducting out. of the whole amount received by such assignees, the whole of the expenses and disbursements paid by them, the nett proceeds of the joint stock shall be appropriated to pay the creditors of the company, and the nett proceeds of the separate estate of each partner shall be appropriated to pay his separate creditors; and if there shall beany balance 'if the separate estate of any partner, after the payment of his separate debts, such balance shall be added to the joint stock, for the payment of the joint creditors; and if there shall beany balance of thejoint stock, after payment of the joint debts, such balance shall be divided and appropriated to and among the separate estates of the several partners, according to their respective rights and interests therein, and as it would have been if the partnership had been dissolved without any bankruptcy; and the sum so appropriated to the separate estate of each partner shall be applied to the payment of his separate debts; and the certificate of discharge shall be granted or refused to each partner, as the same would or ought to be if the proceedings had been against him alone under this act; and in all other respects the proceedings against partners shall be conducted in the like manner as if they had been commenced and prosecuted against one person alone. Sec, 15. And be it further enacted, That a copy of any decree of bankruptcy, and the appointment of assignees, as directed by the third section of this act, shall be recited in every deed of lands, belonging to
the bankrupt, sold and conveyed by any assignees un
der and by virtue of this act; and that such recital, together with a certified copy of such order, shall be full and complete evidence both of the bankruptcy and assignment therein recited, and supersede the necessity of any other proof of such bankruptcy and assignment to validate the said deed; and all deeds containing such recital, and supported by such proof, shall be as effectual to pass the title of the bankrupt of, in, and to the lands therein mentioned and described to the purchaser, as fully, to all intents and purposes, as if made by such bankrupt himself immediately before such order. Skc. 16. And be it further enacted, That all juris-
diction, power, and authority conferred upon and OCfrt in iho Histriet court of the United States by this
I act, in cases in bankruptcy, are hereby conferred upi i . i . .1.. nf tlio TTnJiorl Stotos
on ana vesteu in me cukuu uuui uuni.u w.w for the District of Columbia, and in and upon the supreme or superier courts of any of the Territories of the United States, in cases of bankruptcy, where the bankrupt resides in the said District of Columbia or in either of the said Territories. Sec. 17. Andbe it further enacted, That this act shall take effect from and after the first day of Febru-
Speaker of the House of Representatives.
SA.fll L L. fcUU lriAiHJ, President of the Senate pro tempore. Approved, August 19, 1841. JOHN TYLER. - , Public No. 7. AN ACT further to exiend the time for locating Virginia military land warrants, and returning the surveys ihereon to the General Land Office. Be it enacted $c. That the first section of the act entitled "An act to extend the lime for locating Virginia military land warrants, and returning surveys
thereon to the (ieneral Land Uthce," approveujuiy seventh, eighteen hundred and thirty-eight, as to all warrants issued prior to the tenth day of August, eighteen hundred and forty, and no others, be, and the same is hereby, revived, and to continue in force until the first day of January, eighteen hundred and forty-four. Approved, August 19, 1841,
mount of cancelled notes. No "Combination Lock" there, we guess. Was there, Mr. Editor of the Sentinel?
LYNCH'S LAW. The extent to which the infliction of punishment by mobs for alleged crime, is becoming really alarming to the admirers of good order, justice, and the proper administration of the laws. We hardly open a western orsoutliwestern'pa-
SEJII-WE E ItLY JOUIJ IV A L.
INDIANAPOLIS:
SATURDAY, SEPTEMBER 4, 1841.
Whigs, remember the meeting at the Court House this evening. Let us have a real Tippecanoe gathering. GEORGE II. TROFFITT. It is with regret that we have to announce to the Whigs of Indiana, that the gentleman whose name heads this article has withdrawn from among them. He has connected himself with the "corporal's guard," or as it has been significantly called, the "Other-wise party." That party now consists of Henry A, Wise, Francis Mallory, Thomas W. Gilmer, and George H. Proffitt. . Some of our friends are speaking pretty harshly of Mr. P. for his course, but they themselves are much to blame in the matter. Last summer when intense excitement pervaded the whole people, Proffitt was their idol, His tempestuous and eataract public harangues suited the temperament of the times. His keen anathemas against the then Administration, his bold and searching expositions of the corruptions of the Government met the feelings and wishes of the people. Such orators as Proffitt were every where received with acclamations and loud huzzas. When it was known that he was to be present at a political gathering, it added hundreds aye thousands to the excited throng. His praises were upon the lips of every one. What wonder then, having a full share of human nature, that he has madly shot from his sphere. Those that once almost worshipped him, after the excitement passed off, coldly passed him by. His turbulent and daring spirit was suited to the lead in battle; but, after the victory, men turned their attention to better balanced and more experienced minds as better calculated to take the lead in matters of peace. Older and wiser heads were naturally looked to to conduct the Whig party through the intricate and important scenes of Government. Don't blame him harshly. His conduct is in a great degree attributable to his own friends. Last year they placed him in the front rank, and where the battle raged the fiercest. Now they wish to put him in the rear guard when the danger is past.
What wonder then that such spirits as his should become disaffected. They would rather reign in the Locoveto camp than serve in the Whig ranks. But we do not give him up as lost. After due reflection, George H. Proffitt will again be found batileing in the good cause. CONGRESS. The amendments of the Senate to the Land Bill have not been acted on as yet in the House. The Senate has not taken up the new Bank Bill sent there from the House. It will be taken up, however, and passed; and we cannot but think that the President will give it his approval. Many of our friends at Washington, however, entertain a different opinion. Gen. Wool's nomination to fill the vacancy occasioned by the promotion of Gen. Scott has been confirmed. Col. Todd has also been confirmed as Minister to Russia, by a unanimous vote, as was also Mr. Jenifer to Austria.
Look out for an exhibition of Locofoco corruption and rascality. The Commissioners engaged in the investigation of the Custom House offices at New York have closed their labors and repaired to Washington to make out their report. A certain Broker of this place, we learn, says that he can go before a Justice of the Peace and make affidavit that a certain "doctor" did procure from the Bank, as stated in the Sentinel, $1,300. That swearing is more than Chapman would do. "A burnt child dreads the fire."
Another Extensive Bank Robberv. The Danville Branch of the Farmers' Bank of Virginia was entered on the night of the 21st ult by means of false keys, and robbed of twenty thousand dollar of good money, besides a large a-
per that does not give an account of some outrage by mobs. A most aggravated case occurred at Kaskaskia, Illinois, a few days since. It appears that some families there brought with them slaves bound to them to a certain age or for a stipulated time. That time has expired but they are still held in bondage. One of the slaves, so held, applied to a lawyer of St. Louis to procure his freedom, who immediately set about doing it. For this discharge of his duty as a legal man, the hotue in which his family were (who were at the time in Kaskaskia on a visit) was attacked, windows and doors brc ken in, and one of his children seriously hurt with some missile. The lawyer, himself, was with difficulty rescued from the lawless violence of the mob. We thank God, that Indiana is yet free from law-defying and law-usurping proceedings. May she ever remain so.
VETO MESSAGE. The Indianapolis Journal is misinformed respecting the burning of the President in effigy by the citizens of Columbus. No such occurrence took place in this city. Ohio Stale Journal. Does our friend of the Journal imagine that the town of Columbus, Ohio, is the only place of that name in the Union? If he does, we will hasten to inform him that he is mistaken. Columbus, Ohio, we have heard of, and therefore take it for granted that it has a locality somewhere in Franklin county, on the borders of a small stream called the Scioto. Of that, however, we are not certain. But Columbus, Indiana, we have seen, and therefore know there is such a place situated in a rich district of country, near the pelucid waters of the East Fork of White River, and in the Whig county of Bartholomew. Its citizens, too, save the outbreak of popular feeling alluded to, have been and are still distinguished for their intelligence and propriety of conduct. We can tell our brother, when we speak of our Columbus, we do not think it necessary to affix the word Indiana to it to distinguish it from hits little city of the same name.
The editor of the Sentinel takes it in high dudgeon because the "Combination" Lock is likely to keep him out of the Bank.
THE FINE ARTS IN INDIANAPOLIS. Having, recently, some business to transact in the rooms over the store of Mr. John H. Wright, I peeped into the studio of our gifted townsman, Jacob Cox, Esq., Portrait Painter. Not thinking of any thing to attract my attention, how great was my surprise on beholding an elegant Gallery of Pictures and Portraits, all from Mr. C.'s pencil. So unexpected and pleasing a sight induced me to make a rather careful examination; and I . found there many things in landscape and fancy painting, "Rich in beauty bright, And full of nature true." But what pleased me the most were the number and excellence of his portraits of our distinguished citizens, such as Gov. Wallace, Douglass Maguire, Esq., Hon. O. II. Smith and oth
ers. Those who have seen these gentlemen have no occasion to ask, "Whose likeness is that? and that? and that?" They know them at once. One of the finest things of the kind I have ever seen, is the portrait of Gov. Bigger. It is precisely what it should be, a perfect likeness, and needs only to be seen to convince us that we have an artist residing among us fully competent and most worthy of support. Mr. C. is polite and agreeable, and instructive in his conversation. X.
THE PUBLIC FAITH. We hear many respectable citizens express fears that the next Legislature may feel disposed to repudiate the State Debt of Indiana. On what grounds this opinion is based, we are at a loss to conjecture, for, surely, we have never heard one public man express such a traitorous wish. During the last session of the Legislature, a small portion of the Van Buren members seemed averse to the payment of the interest on the suspended debt, deeming (as they said,) the States Bonds illegally sold by our agents, and illegally withheld by those into whose hands they passed. Beyond this, they never advocated any measure of bad faith. A large majorit of that party, we are very well convinced, are sound on this question of State honor, and will be found, this coming winter, repudiating the repudiators. While on this subject, it might be well enough, perhaps, to notice the very ungracious remarks of several Eastern papers, in regard to the failure of Indiana to meet the July interest on the State debt. Weare no apologists fur bad faith, in public or private transactions, but there may be extenuating circumstances, offering, at least, some reason why a littla charity should be extended. The members of the last Legislature were alive to the plighted faith of Indiana, and exhibited as much solicitude for its preservation as any body of legislators could do, under the most unfavorable circumstances. Coming, as they did, fresh from the People, and elected in the midst of an unparallelled excitement, growing out of the thea Presidential election, they did not forget what wa due to the untarnished honor of Indiana. Unlike their immediate predecessors, the Representatives there as-