The Express.
London, England, 1853-09-24 00:00:00

Rah) Entelligence.

COURT OF HANKItUPTCY.—YESTERMIT.
Nia. Comer:v:o)ms GorLatax.
1, 1:r F. W. Sink, ELAND.

This was the List Istn.Lati n tn. r inK. The bankrupt
was de•cribcd as a ine•inerchsnt, of Kensington and Sy-
mond's•ins, Chancery-lane. The accounts, prepared by
Ms IMS. Robinson and Knowles, show the bankrupt's debts
to be but InCif. (assets to meet them 1701.). but his liabilities
as dirictur. of the Counties Union Life Assurance Atiocia-
tion amount to 2,1.11.
. .

The assignee.' were satisfied with the accuracy of the ac-
*bunts, and the bankrupt passed.
Is as DAVIS.

This was the adj turned certificate meeting. The bank-
rupt was proprietor of the Railway Hotel at Colney Hatch.
lbe eaee was beard a few days since. The accounts (pre•
pared by Messrs. Robinson) sh-ew the unsecured debts to be
' 1,5171.; secured ditto. 3 til. The assets veers—good deb's,
7931. property, 1501.; ditto in the hands of credit.im,
4.2331. The profits had been 1.7701. ; losses, 1,0491. ; hotel
expenses, 4221.; personal (during 12 months), 20'21.
Mr. Bagley appeared tar the assignees to oppose; Mr.
I.swrauee supported the bankrupt.
It was urged against the bankrupt that he had traded
reckles•ily. Being insolvent to toe extent of about 1001.,
he had covered upon the hotel, and had also speculated iu
the purchase of land. After eleven actions had been
brought against him, and under which executions had
subsequently been levied, he had continued to trade, and con-
tracted the greater pinion of the debts appearing un the

Mr. Lawrence contended that it could not be held that
a trader who was ineolysnt to a small extent was nut justi.
Bed in entsriug upon transactions which offered reason-
able, and even Err ngly warrantable expectations of profit.
The result in 0.3 c •se wed that the bankrupt had thus
been warranted. The hotel for which he had contracted tor
the priviltav of purchase for 1.2001. had since increased
2,1001. There was not a more ruing neighbourhood in the
suburbs of London. Raving a station on the Greet Northern
iilway, land at Colney Hatch, which only a few yearn
since, woad not mike more than 601. per acre, was now
realising 6001. per acre. The bankrupt had every reason
to believe that he should have been able to satisfy the
claims fur which the actions (twos of which he defended),
were brought. lie bad contracted only one debt, that to
Mr. Layton f-n 81., after the emotions were on his pre-
mises. Under the circumstances stated an immediate csr.

glean was prayed for.
His Honour in giving judgment said, " that some obser
watiol, hod been made :u which he could not accede, and
which would have his concurrence, namely, that a per-
son who was insolvent and worse than nothing had •
right, if he saw an opportunity, of purchasing
or obtaining possession of 'cranking that was likely to
turn to profit. l'he only proposition ho could agree to was,
speaking in a commercial iniut of view, that • person was
not justified in entering into each a speculation unless he
had :he means to cover ouch a risk. Had a Mlle, a pauper,
worse than a pauper—a right to say that from his know-
ledge of a subliet he had a right to purchase, and trust to
the chapter of accidents as to the speculation turning out
pruti!able, and In the event of its being unsuccessful
having no means to meet such losses, merely
because there were instonci s of indiri:suals having
purchased with nothing who hid obtained • large
profit on such a speculation ? lie (the Commissioner) de-
wiliog a Clial in *commercial court mast be permitted to
say that such an individual could not escape from a large
measure of blame. Here was a man who could nei-
ther read nor write—who came from the clorids—em
barking in speculation with nothing, having previously
been in the habit of selling small quantities of eatables, &c.
at fairs, and keeping at no period any books. The
first principles of trade had therefore been dispensed
with. Another point was that the bankrupt had
taken upon himself, upon receiving the profits of his
speculation, to pay whom he thought fit. The as-
signees had taken rather a lenient view of the case,
and hail the court been called upon to say whether any debts
had been contracted in any ni of fraud, there would
have been some doubt on the subject. The assignees had
acted with justice to the debtor as well as the cre-
ditors. The bankrupt had not made any purse for him-
self and left his creditors, as was too often the case, with
nothing. His conduct, however, seemed to have been
reckless in the highest degree, but he had stopped short of
any attempt to cheat his creditors. Had the bank-
rupt kept proper books, and narrowly watched
his out goings, he might have gone on prosperou-ly.
The coutinuacg trade had placed the interest of others in
peril, the new creditors, being the heaviest loners. The
bankrupt had sinned very much against the bankrupt law.
Considering that this was his first failure, end that his
estate would yield • good aividend, be would be dealt with
more leniently than might otherwise have been the Cu.
Under all the circumstances, the justice of the case would

be sin by I Inliptlllioll of bix month hem the date of paw-
ing the last examination, and then to be of the second
class. His Honour was anxious to hold oat to debtors that
the fact of their giving up all the assets they had for equal
distribution amongst their creditors would be looked upon
as a favourable circumstance.

Suspended for siz months accordingly.
IN BA HANYINT WARo (A STATIONIIII.
In this case Mr. Beard, from the office of Mr. Buchanan,
appeared for a witness who had been summoned to give evi-
dence as to the circumstance+ connected with a bill of sale,
under which he claimed nearly all the effects on the bank-
rupt's premises ; and after an examination of some dare-
ion, and further protection to the bankrupt was granted,
an application for an allowance was, after a suggestion
from the spurt, withdrawn.
_ IN NU W. BAKTON.—THE ROSINAILY BRANCH.

This was a last examination 'Bislang. The bankrupt
was the proprietor of the Rosemary Branch Tavern, bung.
tua. The accounts, prepared by Mr. Thomas, show the
debts to be 7,1691. ; assets returned at TOOL There was an
item of 3,9531. returned in the balance-sheet as being the
amount of lase sustained by fire.
Mr. Shillibeer, of Great James-street, Bedford-row, ap-
peared f-r creditors, and reserved all opposition for the cer-
titteate meeting.
The bankrupt pa.scd.