Show OUR BANKRUPTCY LAW NUMBER OP PETITIONS FILED PAST SIX MONTHS I ActIs MeetingAlmost Universal Approbation I Ap-probation Nevada Only State in Which No Petitions Were Filed Washington June 7The summary of the semiannual reports of the operation op-eration of the bankruptcy law for the period ending March 31 1901 recently submitted to the AttorneyGeneral byE by-E C Brandenburg In charge of bankruptcy bank-ruptcy matters In the Department of Justice shows that during this period 9561 voluntary petitions were filed as against SOOO for the preceding six months 12120 for the six months ending end-ing March 31 1900 10121 for the six months ending September CO 1900 and 9025 for the six months ending March 31 1899 thus showing no appreciable variation from the average number of petitions filed since the law went Into operation though It is over 2COO less than for the corresponding period of last year For the same period 1073 peptitions In voluntary bankruptcy were filed this being slightly in excess of the average for the past two years and a half OLD INSOLVENTS The report shows that a large percent per-cent of those taking advantage of the voluntary feature of the law are old insolvents seeking this means re susitatlng themselves In the business world During the past six months of the voluntary cases 7057 have been closed In these the total liabilities direct and contingent have been 81 Sn5097 while the net assets realized for distribution as dividends have been 3GS71 > The total liabilities In 7GO cases were less than 500ln 810 cases between 500 and 1000 and In 3000 cases between 1000 and 5000 the balance being for larger sums in varying amounts WHO FILE PETITIONS It also appears that 745 who flied petitions pe-titions were farmers 3S43 wageearners 1377 merchant 123 manufacturers 113 professional men and the balance had occupations of a miscellaneous character charac-ter Of the Involuntary cases 325 were closed during the year in which the total liabilities were 1620918 while the total assets realized 5789597 In Hawaii Ha-waii only three petitions have been filed two for voluntary bankruptcy and one for involuntary bankruptcy LAW IS APPROVED S Mr Brandenburg pays it may be safely said that with one or two exceptions ex-ceptions for which Congress doubtless will make provision an early date the law Is meeting will almost universal univer-sal approbation As time passes its superiority su-periority over many of the State insolvency in-solvency and assignment laws in reducing reduc-ing the expanse of administration to a minimum with a result of maximum dividends together with the disappearance disappear-ance preferences either through legal proceedings or fraud he says Is redounding re-dounding to the advantageof the business busi-ness world NO GUARANTEE AGAINST FRAUD The experience gained by the commercial com-mercial Interests under the present law he says has alforded a keener Insight Into its practical advantages than was expected or could have been anticipated antici-pated and while the existence of the present law i3no guarantee against fraud or that the honest debtor will not endeavor to use its machinery to his advantage and to the detriment of the creditor whenever ponsiblc yet the opportunities under the various State assignment and Insolvency laws were so much greater and tho fraud frequently fre-quently so much more flagrant that the Federal law has come to be looked upon as one of the most beneficent and advantageous I ad-vantageous to the business world that has been placed on our statute books for many years FILING BY STATES The States showing the greatest number num-ber of voluntary petitions filed during the last six months are Illinois 1312 New York 1263 Massachusetts 1000 Iowa 139 and Alabama I2U The lowest numbers are shown by the State of Nevada Ne-vada where none was filed Arizona and Hawaii 2 each Delaware 5 New I Mexico 8 Idaho 10 Of the Involuntary petitions the greatest great-est number were Pled In the following Stales New York 23o Pennsylvania 132 Illinois 70 Massachusetts 52 Kentucky Ken-tucky CO and Georgia tnd Texas 48 each while In the States of Kansas and Nevada no petitions were filed In Hawaii and New Mexico one ench In Delaware Indian Territory North Dakota Da-kota and Oregon two each |