Section 167. Notice to debtors, bailees and creditors

The trustees,
  immediately upon their appointment, shall give  notice  thereof  for  at
  least  three  weeks  in  a  newspaper  published  in  the  county  where
  application was made and therein shall require:
    1. All persons indebted to such debtor,  by  a  day  and  at  a  place
  therein  to  be specified, to render an account of all debts and sums of
  money owing by them respectively, to such trustees, and to pay the same;
    2. All persons having in their possession any property or  effects  of
  such  debtor,  to  deliver  the  same to the said trustees by the day so
  appointed;
    3. All the creditors  of  such  debtor  to  deliver  their  respective
  accounts  and  demands  to  the  trustees or one of them, by a day to be
  therein specified, not less than forty days from the  first  publication
  of such notice.