CORPORATIONS SUBJECT TO BANKRUPTCY

It would seem unwise to include within the scope of a national bankruptcy act a charitable corporation, an insurance com pany, or any public service corporation, whether a railroad or transportation com pany or not. If, however, Congress still desires to pass a statute which shall have the effect which the Conference Committee

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evidently thought the Act of 1898 would have, let it substitute for that part of Section 4 B, with regard to corporations, the following: " Any corporation, except national banks or banks incorporated under state or territorial laws, or common carriers, may be adjudged an involuntary bankrupt." Boston, Mass, August, IQ07.