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section, and insert the words, "Or, at the election of the debtor, the R. S., §§ 5026, court may, in its discretion, award a venire facias to the marshal of 5027. 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 one-half of his creditors in number and amount; or, in case all the creditors and such debtor assent thereto, such discontinuance 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 as such 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 foregoing provision into effect.
SEC. 15. That section eleven of said act(1) be amended by inserting Bankrupt to subthe words "and valuation" after the word "inventory" in the twenty. mit valuation with inventory. first line; and that section forty-two of said act be amended by inserting R. S., §§ 5014the words "and valuation" after the word "inventory" in the fifteenth 5016, 5030. line.
SEC. 16. That section forty-nine of said act(1) be amended by striking In Territories, out after the word "the" in line five, the words "supreme courts", and district courts to inserting in lieu thereof "district courts," and in line six, after the word have jurisdiction instead of supreme "States", inserting the words "subject to the general superintendence courts. and jurisdiction conferred upon circuit courts by section two of said R. S., § 4978. act."
COMPOSITION WITH CREDITORS.
R. S., § 5103. 71 N. Y., 20. 12 Blatch., 562. 124 Mass., 213, 300, 493, 497. 4 Dillon, 111. 128 Mass., 228. 49 Md., 51. 13 Hun., 526. 17 Hun., 49.
SEC. 17. That the following provisions be added to section forty- Composition on three of said act(1): That in all cases of bankruptcy now pending, or resolution of credto be hereafter pending, by or against any person, whether an adjudi- itors, how effected. cation in bankruptcy shall have been had or not, the creditors of such alleged bankrupt may, at a meeting called under the direction of the court, and 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 otherwise, as the court may direct, resolve that a composition proposed by the debtor shall be accepted in satisfaction of the debts due to them from the debtor. And such resolution shall, to be operative, have been passed by a majority in number and three-fourths in value of the creditors of the debtor assembled at such meeting either in person or by proxy, and shall be confirmed by the signatures thereto of the debtor and two-thirds in number and one half in value of all the creditors of the debtor.
And in calculating a majority for the purposes of a composition under-computation of this section, creditors whose debts amount to sums not exceeding fifty majority for purdollars shall be reckoned in the majority in value, but not in the majority in number; and the value of the debts of secured creditors above the amount of such security, to be determined by the court, shall, as nearly as circumstances admit, be estimated in the same way. And creditors whose debts are fully secured shall not be entitled to vote upon or to sign such resolution without first relinquishing such security for the benefit of the estate.
The debtor, unless prevented by sickness or other cause satisfactory Debtor to be to such meeting, shall be present at the same, and shall answer any in- present at meetquiries made of him; and he, or, if he is so prevented from being at ings, answer in
NOTE.-(1) The provisions of the bankrupt law referred to in this act are incorporated into the
debtor's statement to be presented to court, and proceed
such meeting, some one in his behalf, shall produce to the meeting a statement showing the whole of his assets and debts, and the names and addresses of the creditors to whom such debts respectively are due. Such resolution, together with the statement of the debtor as to his assets and debts, shall be presented to the court; and the court shall, upon notice to all the creditors of the debtor of not less than five days, and upon hearing, inquire whether such resolution has been passed in the manner directed by this section; and if satisfied that it has been so passed, it shall, subject to the provisions hereinafter contained, and upon being satisfied that the same is for the best interest of all concerned, cause such resolution to be recorded and statement of assets and debts to be filed; and until such record and filing shall have taken place, such resolution shall be of no validity. And any creditor of the debtor may inspect such record and statement at all reasonable times. may The creditors may, by resolution passed in the manner and under the change provisions circumstances aforesaid, add to, or vary the provisions of, any composiof composition. tion previously accepted by them, without prejudice to any persons 15 Blatch., 23. taking interests under such provisions who do not assent to such addition or variation. And any such additional resolution shall be presented to the court in the same manner and proceeded with in the same way and with the same consequences as the resolution by which the composition was accepted in the first instance.
The provisions of a composition accepted by such resolution in purcomposition, upon suance of this section shall be binding on all the creditors whose names whom binding. and addresses and the amounts of the debts due to whom are shown in the statement of the debtor produced at the meeting at which the resolution shall have been passed, but shall not affect or prejudice the rights of any other creditors.
Debtor or how to
Where a debt arises on a bill of exchange or promissory note, if the describe debts debtor shall be ignorant of the holder of any such bill of exchange or where holders are promissory note, he shall be required to state the amount of such bill or note, the date on which it falls due, the name of the acceptor and of the person to whom it is payable, and any other particulars within his knowledge respecting the same; and the insertion of such particulars shall be deemed a sufficient description by the debtor in respect to such debt.
- how may correct mistakes in state
Any mistake made inadvertently by a debtor in the statement of his debts may be corrected upon reasonable notice, and with the consent of a general meeting of his creditors.
Composition to Every such composition shall, subject to priorities declared in said provide for pro- act, provide for a pro-rata payment or satisfaction, in money, to the rata payment, &c. creditors of such debtor in proportion to the amount of their unsecured debts, or their debts in respect to which any such security shall have been duly surrendered and given up.
rules in relation
may be set aside or not confirmed by court, &c.
The provisions of any composition made in pursuance of this section may be enforced by the court, on motion made in a summary manner by any person interested, and on reasonable notice; and any disobedience of the order of the court made on such motion shall be deemed to be a contempt of court.
Rules and regulations of court may be made in relation to proceedings to, may be made of composition herein provided for in the same manner and to the same by court. extent as now provided by law in relation to proceedings in bankruptcy. If it shall at any time appear to the court, on notice, satisfactory evidence, and hearing, that a composition under this section cannot, in consequence of legal difficulties, or for any sufficient cause, proceed without injustice or undue delay to the creditors or to the debtor, the court may refuse to accept and confirm such composition, or may set the same aside; and, in either case, the debtor shall be proceeded with as a bankrupt in conformity with the provisions of law, and proceedings may be had accordingly; and the time during which such composition shall have been in force shall not, in such case, be computed in calculating periods of time prescribed by said act.
preme Court makes
R. S., §§ 4990,
SEC. 18. That from and after the passage of this act the fees, com- Fees reduced missions, charges, and allowances, excepting actual and necessary dis- one-half until Subursements, of, and to be made by the officers, agents, marshals, mes new rules. sengers, assignees, and registers in cases of bankruptcy, shall be reduced to one-half of the fees, commissions, charges, and allowances 5124-5127. heretofore provided for or made in like cases: Provided, That the preceding provision shall be and remain in force until the justices of the Supreme Court of the United States shall make and promulgate new rules and regulations in respect to the matters aforesaid, under the powers conferred upon them by sections ten and forty-seven of said act, and no longer, which duties they shall perform as soon as may be.
And said justices shall have power under said sections, by general Supreme Court regulations, to simplify and, so far as in their judgment will conduce to to simplify and the benefit of creditors, to consolidate the duties of the register, assignee, of officers. marshal, and clerk, and to reduce fees, costs, and charges, to the end that prolixity, delay, and unnecessary expense may be avoided.
And no register or clerk of court, or any partner or clerk of such register or clerk of court, or any person having any interest with either in any fees or emoluments in bankrupety, or with whom such register or clerk of court shall have any interest in respect to any matter in bankruptcy, shall be of counsel, solicitor, or attorney, either in or out of court, in any suit or matter pending in bankruptcy in either the circuit or district court of his district, or in an appeal therefrom.
Who are prohibited from being ruptcy cases, &c.
counsel in bank
R. S., § 4996.
Nor shall they, or either of them, be executor, administrator, guard- and from being ian, commissioner, appraiser, divider, or assignee of or upon any estate executors, guardians, &c. within the jurisdiction of either of said courts of bankruptcy; nor be interested, directly or indirectly, in the fees or emoluments arising from either of said trusts.
And the words (2) "except such as are established by this act or by law", in section ten of said act, are hereby repealed.
Power of Supreme Court to regulate fees. R. S., § 4990. Marshal to re
clerk of district
SEC. 19. That it shall be the duty of the marshal of each district, in the month of July of each year, to report to the clerk of the district port annually to court of such district, in a tabular form, to be prescribed by the justices of the Supreme Court of the United States, as well as such other or further information as may be required by said justices.
First, the number of cases in bankruptcy in which the warrant prescribed in section eleven of said act has come to his hands during the year ending June thirtieth, preceding;
Secondly, how many such warrants were returned, with the fees, costs, expenses, and emoluments thereof, respectively and separately;
Thirdly, the total amount of all other fees, costs, expenses, and emoluments, respectively and separately, carned or received by him during such year from or in respect of any matter in bankruptcy;
Fourthly, a summarized statement of such fees, costs, and emoluments, exclusive of actual disbursements in bankruptcy, received or earned for such year.
Fifthly, a summarized statement of all actual disbursements in such cases for such
And in like manner, every register shall, in the same month and for the same year, make a report to such clerk of,
First, the number of voluntary cases in bankruptcy coming before him during said year;
Secondly, the amount of assets and liabilities, as nearly as may be, of the bankrupts;
Fifthly, the number of compulsory cases in bankruptcy coming before him, in the same way;
Sixthly, the amount of assets and liabilities, as nearly as may be, of such bankrupt;
Eighthly, the amounts and rate per centum of all dividends declared in such cases; Ninthly, the total amount of fees, charges, costs, and emoluments of every sort, received or earned by such register during said year in each class of cases above stated. NOTE. (2) That part of the act of 1867, ch. 176, § 10 (14 Stat. L., 521), here repealed, is in Revised Statutes, § 4990.
R. S., §§ 776-792.
R. S., § 5058.
Clerk to make
And in like manner, every assignee shall, during said month, make like return to such clerk of,
First, the number of voluntary and compulsory cases, respectively and separately, in his charge during said year;
Secondly, the amount of assets and liabilities therein, respectively and separately; Thirdly, the total receipts and disbursements therein, respectively and separately; Fourthly, the amount of dividends paid or declared, and the rate per centum thereof, in each class, respectively and separately;
Fifthly, the total amount of all his fees, charges, and emoluments, of every kind therein, earned or received;
Sixthly, the total amount of expenses incurred by him for legal proceedings and counsel-fees.
Seventhly, the disposition of the cases respectively;
Eighthly, a summarized statement of both classes as aforesaid.
And in like manner, the clerk of said court, in the month of August annual statement. in each year, shall make up a statement for such year, ending June
- to report cases begun.
- to make state
First, all cases in bankruptcy pending at the beginning of the said year;
Secondly, all of such cases disposed of;
Thirdly, all dividends declared therein;
Fourthly, the number of reports made from each assignee therein;
Fifthly, the disposition of all such cases;
Sixthly, the number of assignees' accounts filed and settled;
Seventhly, whether any marshal, register, or assignee has failed to make and file with such clerk the reports by this act required, and, if any have failed to make such reports, their respective names and residences.
And such clerk shall report in respect of all cases begun during said year.
And he shall make a classified statement, in tabular form, of all his ment of fees, &c. fees, charges, costs, and emoluments, respectively, earned or accrued during said year, giving each head under which the same accrued, and also the sum of all moneys paid into and disbursed out of court in bankruptcy, and the balance in hand or on deposit.
Reports, &c., to be signed and
to be transmit
And all the statements and reports herein required shall be under oath, and signed by the persons respectively making the same.
And said clerk shall, in said month of August, transmit every such ted by clerk to statement and report so filed with him, together with his own statement Attorney-General. and report aforesaid, to the Attorney-General of the United States. Penalty for violating provisions of this section.
R. S., § 5012, 5079.
Any person who shall violate the provisions of this section shall, on motion made, under the direction of the Attorney-General, be by the district court dismissed from his office, and shall be deemed guilty of a misdemeanor, and, on conviction thereof, be punished by a fine of not more than five hundred dollars, or by imprisonment not exceeding one
Notaries-public SEC. 20. That in addition to the officers now authorized to take proof may take proof of of debts against the estate of a bankrupt, notaries public are hereby authorized to take such proof, in the manner and under the regulations provided by law; such proof to be certified by the notary and attested by his signature and official seal.
R. S., §§ 1778, 5078.
1876, Aug. 15,ch.
Repeal of incon- SEC. 21. That all acts and parts of acts inconsistent with the provisions sistent provisions. of this act be, and the same are hereby, repealed. [June 22, 1874.] Act of 1867, ch.
176 (14 Stat. L.,
June 22, 1874.
18 Stat. L., 186.
AN ACT TO AMEND THE CUSTOMS-REVENUE LAWS AND TO REPEAL MOIETIES.
-failing to so produce letters, &c., cannot afterwards avoid penalty by their produc tion.
12. Defrauding or attempting to defraud by false invoices, &c., how punished; forfeiture, &c. Entire invoice not to be forfeited on account of undervaluation of items.
13. Merchandise entered in violation of preceding section may be seized and held for payment of fine, &c.
-may be released on giving bond and pay. ing or securing duties.
14. Omission to add to market value cost of packing, shipping, &c., without fraudulent intent, not to cause forfeiture.
-to be supplied by collector or appraiser, &c., with one hundred per cent. additional, and duties collected thereon.
15. Customs officers detecting violations to report to collector, who shall report to district attorney.
Be it enacted, &c.
District attorney; when to prosecute, &c. 16. Issue whether alleged acts were done with intent to defraud to be determined by jury.
-or by judge in certain cases.
Penalty not to be imposed unless fraudulent
17. Proceedings for relief of persons charged
summary hearing in, before whom to be
19. Officers compromising or abating claims for
Secretary of Treasury may remit fincs, &c.
21. Settlements as to duties, after one year, in
22. Suits for penalties and forfeitures under cus-
24. Secretary of Treasury to regulate bonded.
[SECTION 1], That the thirty-ninth section of the act entitled (1) "An Seizure of books, act further to prevent smuggling, and for other purposes," approved &c., in case of susJuly eighteenth, eighteen hundred and sixty-six; and the second section pected smuggling of the act entitled "An act to regulate the disposition of the proceeds of R. S., §§ 3091– fines, penalties, and forfeitures incurred under the laws relating to the 3093. customs, and for other purposes," approved March second, eighteen hundred and sixty-seven, be, and the same are hereby, repealed.
SEC. 2. That all provisions of law under which moieties of any fines, penalties, or forfeitures, under the customs-revenue laws, or any share therein, or commission thereon, are paid to informers, or officers of customs, or other officers of the United States, are hereby repealed; and from and after the date of the passage of this act the proceeds of all such fines, penalties, and forfeitures shall be paid into the Treasury of the United States.
Moieties to in
formers abolished, and fines to be paid into Treasury. R. S., 3090, 3689, 2d ed., p. 726. Hann's case, 14 C. Cls., 305. SEC. 3. That it shall hereafter be the duty of the Secretary of the Compensation to Treasury, out of any money specifically appropriated by Congress, to be allowed for demake suitable compensation in certain cases under the customs-revenue tection of smuglaws, as hereinafter provided, and not otherwise; and for the purpose of gling, and reported making such compensation for the next fiscal year, the sum of one hundred thousand dollars is hereby appropriated out of any money in the Treasury not otherwise appropriated; and he shall annually report to Congress, in detail, all payments by him for such purpose. SEC. 4. That whenever any officer of the customs or other person shall -to officers and detect and seize goods, wares, or merchandise, in the act of being smug- others for detectgled, or which have been smuggled, he shall be entitled to such com- ing and seizing in act of being smugpensation therefor as the Secretary of the Treasury shall award, not exgled. ceeding in amount one-half of the net proceeds, if any, resulting from such seizure, after deducting all duties, costs, and charges connected therewith:
Provided, That for the purposes of this act smuggling shall be conSmuggling destrued to mean the act, with intent to defraud, of bringing into the fined for this act. United States, or, with like intent, attempting to bring into the United 13 Blatch., 185. States, dutiable articles without passing the same, or the package containing the same, through the custom house, or submitting them to the officers of the revenue for examination.
NOTE.-(1) The provisions of the act of 1866, ch. 201, and 1867, ch. 188 (14 Stat. L., 187, 547), referred to in this act, are incorporated into Revised Statutes in the sections noted in the margin.