Page:United States Statutes at Large Volume 18 Part 3.djvu/209

FOBTYIDHIRD CONGRESS. Sess. I. OH. 390. 1874. 179 discretion, order any real estate of the bankrupt, or any part thereof, Court may order to be sold for one-fourth cash at the time of sale, and the residue within "°“l °°*"·*° "°m ’°°" eighteen months in such instalments as the court may direct, bearing 95`B'f?mh §:f’h’ N?" interest at the rate of seven per centum per annum, and secured by] lfgtglresltson 32E5I proper mortgage or lien upon the property so sold. And it shall be the ments. duty of every assignee to keep a regular account of all moneys received Assignee to keep or expended by him as such assignee, to which account every creditor “°°°“”° °f .'°°°*P” shall, at reasonable times, have free access. If any assignee shall fail ”g,§§§2$g'$,"E,,e or neglect to well and faithfully discharge his duties in the sale or dis- access to neeennte. p0s1tion of property as above contemplated it shall be the duty of the Penalty for neg— court to remove such assignee, and he shall forfeit all fees and emolu- I$’°*· &°·· °f ““‘ ments to which be might be entitled in connection with such sale. And S]€_i°,;;,],y {0, mmd if any assignee shall, in any manner, in violation of his duty aforesaid, nnden¤·upt·1n¤,&e.,' unfairly or wrongfully sell or dispose oi} or in any manner fraudulently of ¤¤¤*S¤•>·>· or corruptly combine, conspire, or agree with any person or persons, with intent to unfairly or wrongfully sell or dispose of the property committed to his charge, he shall, upon proof thereof, be removed, and forfeit all fees or other compensation for any and all services in con nection with such bankruptfs estate, and, upon conviction thereof before any court of competent jurisdiction, shall be liable to a fine of not more than ten thousand dollars, or imprisonment in the penitentiary for a term of not exceeding two years, or both line and imprisonment, at the discretion of the court. And any person so combining, conspuing, or agree- Penalty ren eem. ing with such assignee for the purpose aforesaid shall, upon conviction, biuing, ¤<>¤¤piri¤:::. be liable to a like punishment. That the assignee shall report, under &‘z» ‘Y’““ “·°°‘K”°°·b oath, to the court, at least as often as once in- three months, the con- to c:$:,§,"f:,§{§,'Q°;f ditiou of the estate in his· charge, and the state of his accounts in de- estate and er his setail, and at all other times when the court, on motion or otherwise, shall ¤¤¤¤¢¤· so .order. And on any settlement of the accounts of any assignee, he shall be required to account for all interest, benent, or advantage re~ To account forinceived, or in any manner agreed to be received, directly or indirectly, '°°'°“» &°- from the use, disposal, or proceeds of the ba11krupt’s estate. And he shall be required, upon such settlement, to make and tile in court an To 61¤o5d¤¤v** affidavit declaring, according to the truth, whether he has or has not, as the case may be, received, or is or is not, as the case may be, to receive, directly or indirectly, any interest, benelit, or advantage from the use _ or depositof such funds; and such assignee may be examined orally ‘°° °X“°“”°* upon the same subject, and if he shall willfully swear ialsely, either in °” y' such aftidavit or examination, or to his report provided for in this section, he shall be deemed to be guilty of perjury, and, on conviction Penalty for false thereog be punished by imprisonment in the penitentiary not less than ¤“'*‘>¤~¤¤S· one and not more than live years. SEO. 5. That section eleven of said act be amended by striking out Amendment of the words “as the warrant speci6es," where they iirst occur, and insert- ¤°°**°¤ U·· ing the words " as the marshal shall select, not exceeding two"; aud inserting after the word " specifies " where it last occurs the words “But whenever the creditors of the bankrupt are so numerous as to make any notice now required by law to them, by mail or otherwise, a great and disproportionate expense to the estate, the court may, in lieu thereof; in its discretion,- order such notice to be given by publication in a newspaper or newspapers, to all such creditors whose claims, as reported, do not exceed the sums, respectively, of fifty dollars.” Sec. 6. That the nrst clause of section twenty of said act be amended Ainen a men t or by adding, at the end thereof, the words “ or in cases of compulsory ¤¤¤¤¤·>¤ 20- bankruptcy, after the act of bankruptcy upon orin respect of which the adjudication shall be made, and with a view of making such set-0if.” Sec. 7. That section twenty-one of said act be amended by inserting Annenumenu er the following words in line six, immediately after “ thereby ": *‘ But a¤¤¤¤¤<>¤ 21- creditor proving his debt or claim shall not be held to have waived his right of action or suit against the bankrupt where a discharge has been refused or the proceedings have been determined without a discha»I°g°”•