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JOB PRINTING, OF EVERY DESCRIPTION EXECUTED AT THIS OFFICE. _.”Pamphlets, Posting and Hand Bills, Cards Orrentara. Shop Bills, c., neatly printed the g Morning Freeman. THURSDAY MORNING, JUNE 17, 1869, Crvics—No. 5, (West side) Prince William treat. The Bankrupt Bill has psssed through the various stages in the House of Commons as amended by the species committee, and will probably become law this eestion. ‘The m-seure is by no means the mere white washing machine which fraudulent debtora wish for and honest tract ra 80 much dread. It appears to be cumbrous 20d unwieldy, and it may be that under its operation the estate of s bankrope may in great port be eaten up by costs, but this is all that can with any show of fairness be said against it, and even these objections when thoroughly teated will not be found to have so much weight as may at first be supposed. If we aee to have Bankrupt Law at all it must necessarily be somewhat cumbrous. st lesst all attempts hitherto made to frame a short and simple’ law requiring little machinery have only pro duced whitewashing measures which were re pealed as soon as their true character was proved by experience. When subjeted to the same feat the bill may be found to have many defects, but it un doubtedly has many merits, and it supplies many wants much felt in this Province, ren dering transactions such as have so often started and shocked our commercial comunity all but impossible in the future. Should this bill become law no one can with impunity make large purchases on the very eve of him declaring himself insolvent, and with the de liberate intention of defrauding those from whom he abuve, a6 has so often been done, for such transactions will be treated as the frauds they are end punished accordingly. No one can by a fraudulent assignment or sham sale, or by giving judgment, or by mak ing an assignment to trustees of his own select lion place his property beyond the reach of his creditors. ‘The bill, unless its provisions fall in some incomprehensible way to carry out the express intentions of the Legislature, will put an end to all the frauds of that kind. The bill, in fact, treats the property held by a person unable to meet his obligations within the time specified as the property of his credi tors, and purports to vest the entire and abso lute controul of it in them as soon as they choose to assume such controul, enabling them also to recover possession and control of any Property which the insolvent might have im properly conveyed to others. ‘There are objections, and many were urged by those who had experience of the working of the former Canadian Bankrupt Law. One objection is that in many cases the creditora are remiss and allow by their own neglect their interest in the debtor's estate to be destroyed ; that in many cases it does not pay the credi tors to take the necessary proceedings, simple as they are, and that therefore the debtor does as he pleases; that collusion between the debtor and official assignee is possible and in fact often exists; that the County Court Judges are not always men who should be entrusted with the great discretionary powers the bill confers on them; that in Ontario they have proved too ready to grant certificates in all cases, c. It was also asserted that many persons have found meone to break through all the difficulties the law weaves around the debtor, and to get their certificates relieving them from all claims and liabilities while they retained a large amount of property or large sums of money and continued to live sump tuously. Great pains were taken in prepar ing the new bill to meet such cases and to render such operations more difficult if not impossible. The bill appears to have been formed almost too much in favor of the creditors. Yet it affords every facility for the unfortunate hon est trader to get relief from difficulties from which he can not now escape in the Province, and which unless removed by some means, must weigh him down perpetually, and by rendering his life hopeless deprive him of all energy and drive him to despair. One amendment, made at the instance of ‘some New Brunswick members, authorizes a Judge to discharge from confinement in gaol or on the limits any one who, on appeal to him, offer due notice to the creditors at whose suit he has been arrested, shows that he has complied with the requirements of the Act,, and has assigned to the Official Assignee all his property, real and personal. ‘This will put an end to the continued imprisonment of hon est men for debts they cannot pay. The provisions of the Bll can hardly be considered as extending at all to persons not known as traders. Such persons cannot, by operation of this will, get relieved from any debts or liabilities they may contract; but if they attempt to abscond, or resort to shame executions and often, c., their creditors can employ this law against them—yet not so as to relieve them in any way from any obliga tions or debts, for which they will be held accountable until they are fairly met and liquidated. Boston despatches state that the inaugura tion of the great Peace Jubilee” was a de cide success. At the opening on Tuesday there were 50,000 persons in the building, and it was estimated that there were 160,000 stengers in the city including a large deputation of pick pockets, c., male and female, who no doubt expect to reap a rich harvest during the week. he hotels are crowded to excess, and many, persons anticipating this and the probable in creased charges, brought with them the neces sary appliances for camping out on the Common and other places. President Gran and suite were present at the Coliseum yester day afternoon, and the audience it was sald, , numbered 40,000, Bantry Baaten.—On Tuesday morning be tween 5 and 6 o'clock, a quarrel took place on Sheffield street, between two young men named Geo. Knox and Thos. Gibbons, during which the latter was very severely injured, by being kicked or stabbed by Knox, who, it is! Said was assisted by another young man named Clark. Gibbons was at once conveyed to the Hospital, where his wounds were attended. Neither of his assailants has ne yer been ap prehended, and it is said that Knox has fled the city. The thook of Mr. D. Scribner, Waterloo street, was broken into on Monday night, and several valuable fishing rods c., were stolen. Attention is called to the Government Sale by Messrs. Hubbard Wakefield of military stores to take place on the 24th inst. Messrs. Stone Murray's Circus will, it is said, shortly visit this City,
Newspaper Details
Saint John Morning Freeman
Saint John, New Brunswick, CA
Thu, Jun 17, 1869
Page 2
Full Page
Clipped by
Lynn G.
CA 22 Jun 2026
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Saint John Morning Freeman
