The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1856-02-05 00:00:00

THE LAW OF PARTNERSHIP.

On Friday, Mr. LOWE, the Vice-President of the
Board of Trade, introduced two bills into the House
of Commons, for the purpose of effecting an alteration
in the law of partnership and also the law relating to
joint-stock companies, the objects of which may be thus
briefly stated. It is proposed to repeal the Joint
Stock Companies' Act, the Act amending the same,
and the, Limited Liability Act of last session. The
new bill has a double principle—compulsory and per-
missive. The compulsory clauses provide that all
partnerships of more than twenty members shall be
incorporated by a memorandum of association and
registration, to be signed by at least seven shareholders,
and to state whether the company be limited or un-
limited. This document is to be filed with the regis-
trar, and the company then to be entitled to registra-
tion, and to the right of suing and being sued as a
corporation. Companies, consisting of more than six
and less than twenty members, are permitted to avail
themselves of the act, if their object be gain or profit ;
and so may all associations, whether established for
education, religious, or other legal purposes, if they
consist of more than six members ; but banking and
insurance companies are, specially excepted. The
companies shall be compelled, under penalties, to keep
a register of their own shareholders, which shall be
accessible to the public at reasonable hours, and such
register shall be conclusive evidence as to who is or is
not a shareholder. The act shall be applicable to all
companies now existing, or to be formed ; and a ba-
lance sheet, containing certain items, shall be filed
every year with the registrar of companies. Share-
holders, holding one-fifth of the shares of any company,
may apply to the Board of Trade to have the affairs of
the company inspected at their own expense ; and if
the Board of Trade, at their discretion, have the ac-
counts investigated, the report shall be the property
of those who pay for it.
It is also proposed to repeal the existing Winding-
up Act ; and to replace it by a new one, with the fol-
lowing conditions. A company may be wound up
whenever it is unable to pay its debts, or whenever
such winding-up shall be for the benefit of the
shareholders, to be ascertained by three-fourths
of the shareholders holding half the capital
declaring so in public meeting ; whenever the
company does not commence or suspends its busi-
ness for a year; whenever the shareholders are
reduced in number to less than seven ; or whenever it
is declared by the court that it is for the interest of
the shareholders, and not injurious to the public, that
it should be wound up. A company shall be taken to
be "unable to pay its debts" whenever it neglects
for three weeks to pay a debt for which a notice
has been served ; or whenever execution has issued
upon a judgment decree. The application for wind-
ing-up is to be by petition to the Court ; when, both
parties having been heard, the Court will be empowered
to order whether the company be wound up absolutely,
or, unless its debts be paid within a certain time.
These are the principal provisions of the two bills
which were read a first time on Friday, without oppo-
sition, and are ordered for a second reading To-morrow
(Wednesday), so that no time appears to have been
lost in pressing this subject upon the attention of
Parliament.

SHOCKING and FATAL ACCIDENT near
the EXCHANGE, YESTERDAY.

A shocking accident occurred yesterday, at the pile of build_
ings in High-street, near the Exchange flags, which are at
present in course of demolition. About three o'clock in the
afternoon, Thomas Jones, a master mason, who lived at
Lindon-street, Windsor, and Thomas Williams, his assistant,
were on top of the old police office, engaged in lowering the
cornice-stones, with a pair of " sheer-legs," fixed on a platform
on the building, on which they were standing. The first stone
was in course of being lowered, when, owing, it is thought, to
the men below pulling the guide rope too hard, the stays of
the sheers gave way, and the weight of the hanging stone
pulled the sheers and the platform over the cornice, bringing
the unfortunate men with them, and all fell together into
High-street, a depth of more than forty feet. Williams fell
upon his back on to a pile of flags, and expired almost imme-
diately. Jones, strange to say, was still alive, and able to
speak, but his body was dreadfully mangled. The body of
Williams, (who was about 19 years of age, and lived in Straw-
berry-court, Hygeia-street,) was taken to the Northern Hos-
pital, and thence to the dead-house. Jones, at his own request,
was taken to Mr. Evan Thomas, the well-known bone-setter,
of Great Crosshall-street, when it was found that he had sus-
tained a severe wound on the forehead, and a compound frac-
ture of the left leg, besides severe bruises over his body. By
the advice of Mr. Thomas, he was conveyed to the Royal
Infirmary, Brownlow-street, where he progresses favourably.

COLLEGIATE SCLCOOLS.—The second of the two Smith's
prizes, which are annually awarded at Cambridge to the two
best mathematicians of the year, has been obtained by Mr.
Rigby, whom we lately had occasion to mention as second
wrangler. We believe that these are the highest math*ma-
tical destinations ever obtained by a boy educated at Liverpool.
Mr. Rigby went in 1852 from the Collegiate Institution to
Trinity College, Cambridge, where he has been in the first
class each successive year, besides being elected a scholar at
his first examination.

TILE ROYAL CHARTER.—After a succession of surveys last
week by Lloyds' officers and others on board this ship in Ply-
mouth Sound, she was examined on Friday by Mr. Edey,
master builder of Devonport dockyard, Captain Thompson,
Queen's harbour-master, and Mr. William Foster Moore, ship
builder, and upon their decision, artisans commenced on
Saturday to repair and strengthen the upper works, by driv-
ing new bolts into the seraph ends, and in and out in the
waterways, through the plates, and by caulking six planks
from the waterways. These repairs, with some alterations in
the second class cabins and water-closets, will occupy about
three days, and preparations are making for her departure for
Melbourne to-morrow. It is expected that when the proposed
quantity of ballast is removed she will be lightened two feet
fore and aft. Great dissatisfaction prevails among some of the
second and third class passengers.—Times of yesterday.

DARING ATTEMPT AT ROBBERY.—VALUE OP MILNER'S
STRONG HOLDPASt SAFES.—On Thursday evening last, the
office of Mr. Thomas Parlane, timber merchant,Vauxhall-road,
was entered by thieves, but fortunately they did not accom-
plish their object—that of obtaining a large amount of cash,
deposited in one of Milner's fire-proof safes. It appears that
about half-past ten o'clock in the evening an alarm was raised
that Mr. Parlane's office had been entered by thieves, who ob-
tained access through a small window at the back. The
attention of the police was directed to the matter, but the
thieves had then succeeded in effecting their escape. The fel-
lows, judging from the manner in which they had prosecuted
their work, must have numbered a formidable gang. In the
first instance they appear to have forced all the drawers and
ransacked them, but were disappointed in not finding any
money. They then took down a small cast-iron safe of the
ordinary make, weighing from 3 cwt. to 4 cwt., and smashed
it with sledge hammers, two of which instruments were found
in the place. The safe contained nothing but documents of
various kinds, valuable only to the owner, and the gang were
again doomed to disappointment in their search for money.
The - afterwards directed their attention to a large safe, one of
Milner's construction, and which contained a considerable
amount in cash. This safe stood against the wall, was of
wrought iron, and weighed about 121- cwt. From the appear-
ance which it presented there was unmistakeable evidence
that the huge sledge hammers already referred to had been
actively employed, though with little effect, to accomplish its
entire demolition. There were several marks in front of blows
inflicted by the hammers, and the top was slightly beaten in
near the centre. Beyond this the safe had not sustained the
slightest injury. A stronger testimony of the perfect security
of this kind of safe could not be given than its resistance to
the formidable and repeated attacks which must have been
made upon it. It ought also to be stated that, with the view
of rendering the blows of the hammers more effective, the safe
had been removed a short distance from the wall where it
originally stood. A somewhat remarkable circumstance in
connexion with the affair is, that the sledge hammers, one of
them having a head 171b5., and the other about Nibs. weight,
were actually stolen the same night from a forge in Vauxhall-
road, not far from the scene of the outrage. As yet no traces
of the thieves have been obtained.

[FEBRUARY 5, 1856.