1. S. Laws, ufa intes, etc. Kankrupton Lewe

THE

BANKRUPT ACT

OF 1867,

CONSOLIDATED WITH ITS AMENDMENTS,

INCLUDING THE

AMENDATORY AND SUPPLEMENTARY ACT

OF.1874.

COMPILED WITH AN INDEX

BY

SEYMOUR D. THOMPSON,

OF THE SAINT LOUIS BAR.

SAINT LOUIS :

SOULE, THOMAS & WENTWORTH.

1874

il s 135

8218

847

1885. Jan. 21,

Gift of

The Heirs of O. O. Felton.

Entered according to Act of Congress, in the year 1874, by
SEYMOUR D. THOMPSON,

In the office of the Librarian of Congress at Washington.

ΝΟΤΕ.

The object of this pamphlet is to consolidate the Bankrupt Act of 1867 with its amendments, including the amendatory and supplementary act of 1874, so as to exhibit the entire law as it now stands, and as it is intended to read. In order to do this, wherever a section has been amended by the addition or interpolation of words or clauses, these words or clauses have been added or inserted in their proper positions in brackets, and the proper explanations made in the foot-notes. The like course has been pursued where words have been stricken out. The law is thus presented as amended, or as it should now read; while in each instance the date of the amendment and the act by which it is made are given, with such other explanations as are deemed necessary. Aware that the construction of statutes is frequently influenced by such trivial circumstances as punctuation and paragraphing, I have made no deviation in these particulars from the style which is employed in the acts as published by authority. Symmetry and neatness would have been consulted by dividing the long sections into sub-sections, and even by changing the order of sections in some instances, as Mr. Brightly has do⚫e; but, believing that the duty of a private compiler of laws is not that of an artist, but of a copyist, I have thought it best to stick with fidelity to the text. Considerations of conciseness and beauty would - also have dictated a revision of the side-notes, but I have preferred in most cases to follow the full and expressive running titles given in the statutes at large, believing that these are as useful as any that could be divised. For like reasons, instead of numbering the sections of the consolidated act seriatim, I have preserved the sectional numbers of the

685648

original act of 1867, and designated the supplemental sections composed of subsequent acts by added letters-as, §14, §14a-and the like. This, while it diminishes the beauty of the pages, will, it is believed, facilitate rapid and easy reference. The bold-face side-heads have been divised for a like purpose. With a similar end in view, the text has been printed in large, open type.

Except in one or two instances, no attempt has been made at annotations embracing judicial decisions—the only object of this pamphlet being to present the law itself as it now stands, arranged for easy reading and convenient and rapid reference.

S. D. T.

1.

§1

open.

or vacation.

Original Act of 1867, $1 as Amended. - That District courts of the United States the several district courts of the United States be, and they made courts of hereby are, constituted courts of bankruptcy, and they Jurisdiction. bankruptcy. shall have original jurisdiction in their respective districts in all matters and proceedings in bankruptcy, and they are hereby authorized to hear and adjudicate upon the same according to the provisions of this act. The said courts shall be Courts always always open for the transaction of business under this act, and the powers and jurisdiction hereby granted and conferred shall be exercised as well in vacation as in term time, and a judge sitting at chambers shall have the same powers and Authority of jurisdiction, including the power of keeping order and of judge in term time punishing any contempt of his authority, as when sitting in court. And the jurisdiction hereby conferred shall ex- Jurisdiction in tend to all cases and controversies arising between the ruptcy. bankrupt and any creditor or creditors who shall claim any debt or demand under the bankruptcy; to the collection of all the assets of the bankrupt; to the ascertainment and liquidation of the liens and other specific claims thereon;; to the adjustment of the various priorities and conflicting interests of all parties; and to the marshalling and disposition of the different funds and assets, so as to ecure the rights of all parties and due distribution of the assets among all the creditors; 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. The

matters of bank