The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1881-02-05 00:00:00

THE FAILURE OF MESSRS. MOUNTFORA
HOMER, & MOUNITORD.

On Tuesday, a meeting of the creditors of Messrs.
Mountford. Homer and Mountford, chain, anchcr,
cable, and nail manufacturers, Netherton was held
at the Dudley Arms Hotel, Dudley; Mr:Benjamin
Hingley, the largest creditor. occupied the chair.
Mr. L. J. Sharp, of Birmingham, read the state-
meat of accounts, which showed :—Unsecured
creditors, £13,602. 13s. 4d. ; creditors partly
secured, £20,867. 2s. lid. ; estimated value of
securities, £10,360., leaving £10,507. 2s. 11d. ;
other liabilities, £135.; creditors to be paid in
full, £217. 13s, 4d. ; liabilities on bills discounted
£5,458; 17s. 10d., of which it is expected will
rank against the estate for dividend, £1.500, ;
total debts, £25,834. 16s. 3d. Assets ; Stock-in-
trade, estimated to produce £3,600. ; book tiebts,
about £10,116. 6s. 3d., estimated to produce
£3,005. 14s. 9d. ; cash in hand, £4O 108. 6d. ;
surplus from separate estates. £234. 58. 7d.; total.
£6,880 10s. 10d.

Mr. Sharp also read a statement of the rise,
progress, and failure of the debtors' business. nay
started at Cradley, with a capital of £4,000., and
rapidly increased this amount. Tempted by their
success, they purchased a piece of land from Lord
Dudley. for .21,350., and built the very large
works at Netherton. Capital was thus baked up,
and when trade fell off the debtors seught other
customers, of whom they knew less than those the
had :Jean accustomed to supply. They sustained
a heavy loss of A 2,000., besides trio costs of
litigation with a Birkenhead firm (Messrs. Bowd.er)
In 1877 the debtors capital was £lO,OOO, in
December, 1878, £2,500., and in 1879 £1,600.
When the debtors went to Netherton they thought
it to their advantage. Mr. Hingley, the chairman.
said the outlay on such extravagant works was
totally unjustifiable. Mr. Homf ray (Messrs.
Homfray and Holberton, the debtors' solicitors)
said the failure stripped the debtors of everything
they possessed. The debtors were then called
into the ruom, and asked to consider an offer. In
the meantime Mr. Cope, the receiver, stated that
the stock had been most carefully weighed up,
and the value based on realisable prices. The
Chairman, whilst admittirig the care exercised, did
not believe the st)ck would fetch the prices fixed,
for much of it was the result of experiments which
had proved unremuuerative to the debtors, and
was only fit to sell as old castings. Mr. Richard
Mountford here made an offer on his own b-half,
of 3s. Gcl in the pound. His brother and Mr.
Homer had no resources, but his (the speaker's)
fri nds would help him.
Mr. Clement Beale (who appeared for tho Birming-
ham ad Midland Batik) said he could not say
what the bank would do until the debtors let them
know what they were going to do with the works.
He moved, "That the estate be wound up in
liquidation by arrangement and not in bankruptcy."
Mr, Cornelius Chambers seconded this, and it was
carried unanimously.
Mr. Luke J. Sharp was elected trustee, and
Messrs. B. Hingley, C. Chambers, and W. Perry a
committee of inspection, Messrs. Homfray and
Holberton were entrusted with the registration of
the :guiding.

BRIERLEY HIL

THEIIT.-At the Police Court, on Monday, before
Messrs. H. 0. Firmstone, and T. Wilkes Webb,
Elizabeth Laverage (35), and Rosa Laverage (12),
hawkers, were charged with stealing a bodice at
Kinetswinford, on the 29th ult.—The elder prisoner
pleaded not guilty and the younger prisoner phacied
guilty.—Elizabeth Mutleit. an innkeeper at Mount
Pleasant said that about 4 o'clock on the day in
questien the prisoner came into her house. Shl
left the room they were in about five minutes, and
left a bodice on the table. On going back again
she found the bodice was missing and sent for the
police. The bodice produced was her property.—
Police-constible Farnell said he apprehended pri-
soners at Mount Pleasant, and found the younger
prisoner wearing the bodice. On being charged
with stealing the bodice the elder prisoner said that
it was her (the girl's) own. The younger prisoner
replied'' No, I found it on Mullett's door step."
He searched the van belonging to prisoner's and
found a large quantity of all kinds of wearing
apparel —Prosecutroc on being re-called said that
she had missed several things before from her house
after prisoners had been there, but she could not
bring it home to them.—The Bench addressing the
elder prisoner, said they considered it was a very
serious case and that it was brought clearly home
to her daughter and they were 'glad that they
could inflict a fine instead of sending her to prison.
They thouczht she was responsible for the girl and
fined her 20s including costs, with the alternative
of one month's hard labour. Theyounger prisoner
was discharged.
guoP Levrirro.—Nancy Homer (12), and Silva
Homer (9), two sisters, were charged with stealing
two loaves, the property of Edwin Nock, corn
dealer, Brierley Hill, on the 27th ult.—Elizabeth
Nock, daughter of prosecutor, said that the pri-
soners came into the shop and she saw one of them
take a loaf of bread and put it under her shawl,
Police-constable Eden was passing at the
Police-constable Eden said that as he was passing
the shop he saw last witness take a loaf of bread
from the elder prisoner. The younger prisoner
had also a small cottage loaf. lie searched their
residence and found a quantity of soap, candles,
pieces of bacon and salt pork; two whole loaves
of bread, one cottage loaf with the top cut off, and
another which was half used. Ile had, since the
prisoners had been in custody, received complaints
that they had been caught taking bread six weeks
ago, but were forgiven.—The Bench said they
should allow the younger sister to I),J discharged be-
cause she was acting under the i..fluence of her
elder sister. In the Ether case they ieflicted a fine
of l Os, including costs, with the a; ternative of 14
days' imprisonment.
OFFENCE AGAINST THE GAME L ,ws.—Thomas
Dry was charged with carrying a gun on
the 18th ult, for the purpose of killing hares, on
land in the occupation of the Earl of not
having a license to kill game. Mr. Homfray
(Messrs. Humfray and Holbert on) prosecuted.—
Defendant was seen on the day iu question, by
Arthur Sprawson, carpenter, living at flimley, in is
wood called " Ashwood Wood" belonging to the
Earl of Dudley. He was beating about the wood
and was seen to shoot at a hare, When witness
went up to defendant he said that he had got a
license to carry the gun and if he (witness) took it
from him he should make him pay for it,—Defend-
ant who pleaded not guilty was fined 20s and costs ;
with the alternative of one month hard labour.

COAL STEALING. - \Villiam Porter, miner, of
Gornal Wood, was charged with stealing coal the
property of the Earl of Dudley —lie was seen on
the 13th ult, to take about 501bs, weight of coal
from No, 56, pits, belonging to his lordship.—A
fine of 10s. including costs, was imposed.