The Express.
London, England, 1848-03-08 00:00:00

COURT OF IYIISRUPTCIr.
Halm Ns. Ornsislior Mgrarl• ,„
Tits GENELL Kunnas bottIIANCE VOMPANT.—A '
meeting for the cholas of erlison was held in the case of '
W. C. Streatfield, underwriter, of Comilla The bankrupt
Cobeen a director of tbe Genital Maritime Insurance
Company, the capital of which was one million. A number
of policy holders now sought to prove their debts, but the
proofs were resisted by Mr. LIIIFTWICO, on thegroundthat the
bankrupt's name was lot signed to the policies, and that be
was not liable beyond the amount of capital be had auu-
scribed. Besides, there were no funds of the company, on
which ground only would the directors be reached. In sup-
port of this view he cited the cases " Alehorne v. Saville,"
Andrews v. Hinson," and others (6 Moore, p. 190).
—Mr. Norton supported •• proof for 3001. on the part of
Mr. Davrson contending that the fact of the bankrupt
being a director of the company, rendered it immaterial whe-
ther he had rgned the policiem or not. The vaunted capital
of ono million had not been paid up, nor had the bankrupt
paid op what was due on his 100 shares ; and it being ad-
mitted that the company had no funds, to whom had the
policy holders to look but to the directors? Though the
bankrupt's name was not signed to the policy, it was printed
polio with Mime of the other directors at the head of each
policy, and every policy Was aigned by three of the directors.
—Mr. Deddomes to a (roof for 3,0001. 00 behalf of
Mean. Dewar and Careford, on other policies which had
been signed by the bankrupt. He denounced tke company
as one that had imposed on the public by prof( saing to heve
a capital of one million, while all that was ever brought to.
inTfhaoceugoll
titiorglmoneytrtvlertKeyweairmktheeZ
' ftelegrone onllM6,adirili
their capital was consumed. Should these proofs be rejected
the parties would have no remedy either at law or equity.—
His Honour held that on the policies eigned by the hank-
rapt he was liable ; on the ground that lie had not paid up
the full amount of his shares. On the policies not so signed
he entertained some doubt, and would reserve his decision ;
his present inclination being to construe the contract moot
strongly against the party sought to be charged.— Mr. Foster
Reynolds, of St, hlildred's-court, wee chosen assignee.
Before Mr. Commimioner Boeblanque.
RITRAORDINAILY CA42.—Thomas Burton, of Comelier
Mal-road, Lambeth, builder and contractor, came up for his
adjourned final examination. The bankrupt had been ex-
tensively engaged in railway contracts, particularly with the
London and liorth-Western Company, to the extent of
200,0001., and also fur large government works. The ac
counts were very voluminous.—The Commissioner said this
was a very different cam front most of those which came
before him; the official assignee reported that the books had
been most regularly kept, which was an extraordinary thingd
for • builder.—Mr. Llod, the solicitor under the fiat, mi
there was another extrayordinary feature in the ease,—the
bankrupt would have left a balance of 11,0001., after paying
all the creditors 20s. in the pound.—The balance-sheet,
which extends from March to December, 1847, shows debts
and liabilities amounting to 56,7241. IN. 6d.; profits,
20,1071. ; capital, 16,655/. ; tomes, 6,0511.; trade expenses,
12,010/. ; domestic expenses, 5771. ; property and good debts
given up, 67,4531. Ammit the debtors to toeban and the krupt
Lon-
are
the Board of Admiralty tor barracks, 6P231.
don and North-lVestern Railway Company, 16,478!. Ne trip
all the debts kayo been roved and a dividend will shortly
be declared. The bankspupt pissed his last examination.