The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1858-11-09 00:00:00

UOURT Or BANKRUPTCY, HAIIIIIOHALL•1111111111,
NoV. O.

(No. Mr, °wowinflow romnotiuN,)
IN NN RHILIP A. NANKIN 4Np jowl ',ARNIM,

The bankrupt' were wooletaplers uf Blandford. This
V/1111 the inirtifloate 'nesting,
Mr. Fun appeared for the assigmee. p Kr. Linklater
for Mr. kdinonde and other creditors and Mr. Low.
rem for the bankrupts,
Mr. Linklater said tlie benkrupte ?ether lowing fri
many pare ogrried on WlOllO6l s woolstapler, di
,4
the ytar 11141,imeeneed of a surplus o
4114,000, Under the will of Kr. Barnum the properly
wee bequeathed to truelees for the Wish of hie widow,
and ilaughl CH title emu the bankrupts bor.
rowed £9,010, an the Intermit upon whjeli they had
regularly paid. made the end of MT they sus.
tinned sloe. of 11,1111.1 by Hubbard, their wont et LAWIL
UM one of 1111V/1114111 of 481,04J0 by Edward Smith, of
Bermondsey. Thus knowing their position to be one
of danpr, they had Induced Mr. Silinonde to renews
lull fur 4140 due on the 4th of January, 1866, end
bill. due to othere about the same date had not been
pent. One of the banknote loul about 011ie time com.
nitniciated toe Oita that they were In difficulties and
on the 14th of ,Tanuery the bankrupts were lerviid by
the solicitor for the trustee', with write for the 49,000.
Ose writ WU put by one of the bankrupts In hie ioaket,
and the other writ wee put by the other In a strong boa,
&lowing as they mild—s. one of the benkrupte admitted
—that the effect of taking no notice of these write would
be to allow ineaution to lens In 14 dam the bankrupts
took no notice whatever of the write; and upon Mr.
Oak, of the Arm of Oak and Snow, bankers, of Blend.
ford (sine bankrupt), miring them to sign a declaration
of ineolvency before the whole of their stook as Weed
under It 1110 been gold, and thus to Inlet In some degree
the equal distribution of their property; they refused to
in so. The trusties having obtained full satisfaction of
their claim, Muir., Oak and Snow thought that AI
there wee to be a scramble for the bankrupts' property
they might al well participate, and they enforced an
execution end obtained the wreck of tho bankrupts'
stook. The result we., thet although the claim of the
trustee" had been fully "Falsified, and that of M ' Oak
and Snow partly [satisfied, the bankrupt.' debts
were now £12,877 and their meets only £2,360, subject
to realisation. Edward Smith failed on the 18th of
Deoeinber, 1817, end he had made an offer of Be. in the
pound. Mr. Linklater proceeded to refer to avidenee
given by the bankrupts and others. Philip Barnes ad-
mitted Elva he had pointed out to the officer of the
sheriff their stock, and that they had not informed any
creditor of the trustee. having issued the write. When
marvel with a copy of writ on behalf of Mr. Edmonds
they heti petitioned this Court, believing that their per-
son* were not safe. It was quite olear from the evidence
that if the bankrupts had been only Influenced by •
prinolple of common honesty this preferenoe would never
have been permitted. Mr. Edmonds objected to the
case being wound up by privets arrangement. At the
Auk,. of assignees the conduct of the ease puled into
other hands, The solicitor for the assignees had taken
the opinion of counsel on the question of the right of the
aesiguees to recover the £ll,OOO. That opinion was not
in favour of the right, end although he Mr. Linklitter)
'night differ In opinion with the learned (mongol and the
""Ilineel, lie did not at present propose to do more
than press for a oulpension of the bankrupt.' oertill-
onto*. .

Tho bankrupt, Philip A. Borneo, examined, mold I
Tho atnuunt of tho bill due on the Oh of January WA
CITO,on amount of which he gave Mr. Edmonds Cllo and
C now bill at four motitho for £440. Mr. Edmund, wee
at thil time &warn of the lures by Smith, but lie (the
bankrupt) told him thot they would tisk° up the £240
bill, They had not told Mr. ICintondo or coy other
auditor that prouedingo were being token by the
trtudwoo,
. .

Mr. Llnklater I During the twn gum ending Deem.
bur. 101/17, the bunkruptu paid mu interest to their
banknai kloito, and it Woo peifoetly lionietruu+ thut they
01101114 ulluw thrill. trustees Mid the bunk tu pusuelia
thennuelvioi uf the whulti of their mtuok —duck WlllOll WOO
not !oda for, but nbtalned too outwiderable extent on the
@milt of their bilk. . . . . . .

Mr, LAwranee eubinittod thAt the point wee, whether
the bankrupt.' hell procured the exeeution, He mob.
initted that the evidence ellowed the oontrAry. He
mild not deny that they had done wrong In allowing the
exeeirtion, nut that wee a minor offenee, Moore, Oak
end I4IIiIW were 0111 erolliture for R 4,000 or g 3,000;
Their Amigos** woe virtually the meigneee lii Mlle Nee,
end they 11111 not prefer 'my uppoitition. The Nl'ward
Smith referred to wuue h Perllllll whoa traneeetione were
very lerge—too large for He eepltel. They bed Amounted
to npwerde of h Ilinlloll lethal. WO life Itilhee it elle
tiuoeif hie benkruptuy were from £lllO, 000 to IIZAIX/O,
Ills creditors Mutinied porcine 'if the flighted ellendlng,
end the benkrupte More had been to a great 'leave
oonegioned by hie eitepenmion.
Mr, Linklater I It. AMAMI not he overlooked Moot the
hAnkruptel 'mount of their Meese ineitnie P. 4,000 by de.
piaeletion lin house property mince Juno, 111131.
Mr. TAWWWIOII, in ooneitielon 00'10001 that but for
the inetter of the mention the henkropte would be eii.
titled to inintedlete certitleatee of the 11'44111w,
Ills Honour said the evidence did nut warrent the be'
lief thet the lainkrupte hid immured the execution hy
the triletece he would, therefore, it mute doomed thet
vie* lot the Ones. It Wee clear, however, that they
might hare prevented It. He would not fur one 111091011 i
believe Moot they were ignorant of the few —thAt exam'.
Mon might liteedily follow the writ, In feet, one of the
banknote at initted hie knowledge of the how, It we,
their duty not to have allowed illy prefereitee, and to
have signed the iieoleritiuun of insolvency when coked,
Ily not taking tide 'course they had subleeted theologies'
to the oeusore of the Coon, The benkrnoto hood traded
too long. liver y puneoo treding upon borrowed capital
Wee bound to be eiratiotepeet. He believed the batik.
rapts had treded honestly, but they had traded flopru•
dently. They ought to have stopped Immediately on
dineovery of the looses by Smith and Hubbard. The
trengeotion In reopeet to the trustees moot be merked
with dimapprobetion, and the bankrupts would rewire •
racond•elaos eertlfieete after 13 months' ouspension.
Mr, Lawranee Protection, 1 preouinel

The Commissioner i Yes.