Show HARD ON THE BANKRUPT A measure of great importance to business men and lawyers and indeed to the whole community the bill which was signed by the President on February 5th and by which the bankruptcy bank-ruptcy law of ISttS was materially amended We observe In the first place that by the new law preferred creditors of a person who soon afterwards becomes be-comes a bankrupt are not debarred from having other claims passed upon by a failure to surrender the amount rp colved 1 In pursuance of a decision of the United States Supremo court a preferred pre-ferred creditor may now retain the amount paid provided of course tho payment was not fraudulent while at the same time as regards debts unpaid ho will share the rights of other creditors credi-tors Another Important amendment provides that the appointment of a receiver re-ceiver for an Insolvent corporation shall bo deemed an act of bankruptcy entitling enti-tling the creditor to choose their own I trustee Among the objections to a discharge dis-charge which are Included in the new law is the giving of a Calc mercantile statement or the proof that a voluntary bankrupt has sought to go through bankruptcy more than once in six years The bill Just enacted also adds to tho list of debts from which a bankrupt cannot bo relieved by a discharge In bankruptcy Among these additions are debts to wife and children and alimony also any sum duo under a Judicial decision de-cision to a seduced woman or for the support of an Illegitimate child We note finally that the list of corporations corpora-tions permitted to go Into voluntary bankruptcy will hereafter include mining mi-ning corporations and that the fees oCr oC-r ferC s and trustees arc to be Increased on an average by about CiO per cent of the fees hitherto allowed by law Har perH Weekly |