The State Journal

THE REPEAL OF THE BANKRUPT LAW.

The House, on Thursday, took up the bill from the Senate repealing the bankrupt law and passed it with amendments.

The bill as amended is as follows:

That the bankrupt law approved March 2, 1867, title 61, revised statutes, and an act entitled "An act to amend and supplement an act entitled An act to establish a uniform system of bankruptcy throughout the United States,' approved March 2, 1867; and for other purposes," approved June 22, 1874, and all acts in amendment of or supplementary thereto, or in explanation thereof, be and the same are hereby repealed; provided that such repeal shall in no manner invalidate or affect any case in bankruptcy instituted and pending in any court prior to the day when this act shall take effect, but as to all such pending cases and all future proceedings therein, and all penal actions and criminal proceedings arising therein under the acts hereby repealed shall continue in full force and effect until the same shall be disposed of in the same manner as if said acts had not been repealed.

The Senate having adjourned until Monday, the amendments of the House cannot be agreed to now, the probabilities are, therefore, that the repeal will not take effect before Wednesday of next week, at the earliest.