Music Trade Review

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THE MUSIC TRADE REVIEW
A New Bankruptcy Bill
PREPARED BY A SUB-COMMITTEE OF THE HOUSE
—PROVISIONS FOR BOTH VOLUNTARY
AND INVOLUNTARY BANKRUPTCY
THE MEASURE REPORTED TO
THE JUDICIARY COMMITTEE.
[Special to The Review.]
permits his commercial paper to go thirty
days after it is due shall be an involuntary
bankrupt is eliminated.
Where a person institutes proceedings
against an alleged bankrupt by petition,
and is defeated on a hearing, the bill as it
now stands directs the courts to allow the
respondent all reasonable costs, expenses,
and counsel fees, to be paid by the peti-
tioner. The petitioning creditor also must
at the time of filing, or within five days
thereafter, file a bond approved by the
court conditioned on the payment of the
costs. Its general effect is to discharge
the bankrupt of all debts after the estate
has been administered, and it has been
found that there has been no fraudulent
conduct.
The measure is so framed as to make
administration simple and inexpensive.
It involves only two officers—referee and
trustee. The trustee receives no pay un-
til the estate is closed. The referee is to
receive a fee of $10 at the outset, and
when the estate is closed a commission of
one-half of one per cent. Various penal-
ties not only against the referee and trus-
tee, but the bankrupt in case of fraud, are
named.
Washington, D. C., Dec. 15, 1897.
A national bankruptcy bill, similarin its
substantial features to the Henderson-
Culberson bill passed by the House of Re-
presentatives last session, will be reported
to the House perhaps this week. The com-
mittee believes its prospect of being en-
acted into law is good. The House sub-
judiciary committee on bankruptcy was in
session to-day, finally agreed on the bill,
and will report to-morrow to the full com-
mittee. It is likely to be put through with-
out any changes of significance.
The bill provides for both voluntary and
involuntary bankruptcy.
By its pro-
visions any one may file a petition and go
into voluntary bankruptcy except a cor-
poration. The latter may be forced into
it, but not otherwise. Wage-earners, la-
borers, and farmers cannot be forced into
bankruptcy. All others are subject to in-
voluntary bankruptcy for certain designa-
ted causes. In general, these involuntary
The Bronson Bronze Panels.
causes relate to fraudulent conduct on the
part of the bankrupt.
The Homer D. Bronson bronze panels
The work of the sub-committee in are among the specialties which seem to
finally shaping the measure to-day was hold a permanent place in trade esteem.
a liberalizing of the former bill. The This is hardly surprising when the merits
former clause providing that a man who of the panels are considered. By reason
of their attractiveness, novelty of design
as well as durability, they have won a
special place which it seems hard to dis-
place. The Bronson bronze panels are
made in a variety of designs or to order.
They impart a certain individuality to the
piano in which they are used, and more
particularly when special designs to the
manufacturer's order are embodied. Con-
sidering their merits the Bronson panels
are sold at a reasonable price. Manufac-
turers not acquainted with these wares
should write the Bronson Co. for a cata-
logue, or give them a call at their head-
quarters at Beacon Falls, Conn.
Ann Arbor's Fine Showing.
The Ann Arbor Organ Co. expect to
close 1897 with an output of 3,000 organs.
This exceeds by seventy per cent, the busi-
ness of this house in any year since its
foundation. In addition there has been a
vast number of the new Henderson pianos
sold. Such a fine showing speaks volumes
for J. C. Henderson's able management.
He has labored tirelessly, and with the
greatest enthusiasm, and it is some satisfac-
tion to know that his efforts have been
successful. It only goes to show, how-
ever, what can be accomplished by per-
sonal effort and up-to-date methods.
We are in receipt of a very pretty New
Year's calendar from Morris, Field &
Rogers Co., Ltd., of Listowel, Ont.
ON THE TRADE SEARCH=LIOHT
and where more perfect instrument than the
EMERSON
Built upon advanced lines, and
with nearly a half century of
experience embodied in the
means value to the dealer and
to the retail purchaser.
No
experiments with a Piano that
has stood the test of years
•••••»•••••••»••
EMERSON PIANO CO
EMERSON SEMI-COLONIAL.
Factory, 560 Harrison Avenue.
BOSTON-
Warerooms, 11O Boylston Street.