The Express.
London, England, 1851-07-21 00:00:00

THE EXPRESS, MONDAY EVENING, JULY 21, 1851.

Kato intelligence.

COURT OF

r.-SATUILDAY.

11.LW_ORDER 13

- -
emu Ida. Omartleloltil FOJOILLNOCI.
Is as BRADBURY AND Lowa.—THE CORN TRADR.
The bankrupts were described u flour factors, of Great
Tower-street. The joint balance sheet showed a sum of
2,6121. due to unsecured creditors, and 4131. to those hold-
ing security. The secured property woe put down at 5491.,
and there were good debts to the amount of 2961. They
bad begun with a capital of 3001. (brought in by Lowe), on
the 17th of January in last year; there was no entry of
profits. The loess had been 1,2171. ; drawn out by Brad-
bury, 553/. ; by Lowe, 2661.
This was the certificate meeting. llmdbury's separate
debts were 130/. secured, and 1291. unsecured. The pee-
-1 perty given up was lfil. ; deficiency at the commencement
of the account, 1181.

n. telirirtai ceder desert vas Weed a
1M Mat Itanoureble Theme Lord lbure. 'Aid Sikh Chancellor
el Omsk Britaia, M antt the advise end aridnime at the Lett
lienemelie l Isla Memlihf, Wok? of dm Molls, mod the
▪ leseenige tbie Thedlheeedler Ur Jame Meta LBW
the Ilenemelde the Tiee•Chtnel:or llehrt
Lad 'MI dee Opt Hosourable the Viee-ChatalrawasaZ
ham e, lthieght, doth hereby or.:eit and diner In ISM.
on OM te err:
1. Thu torpagork r dinked to be too'.d before the Master,
the Mem eMI Ime at Wartg I..Ner the sense to be mold at suet
;tem
delek *Wm la leeks sr la dr eoestry, ea I by suth perms, as he
shah

f. That when say property is darted to bs sold before re Master,
the Weitte shad be at liberty to dm a reeerved bidding for the maim
Kral erre. or Mudd la ler one *Mir for each lot, and mach re.
em Wiles dealt* medease of the cornrow of sate under which
theta be rid; and I. order that the Mister may
Oun Lb es tower furred bidding, the parties shall carry
la Mhos ear getucar ssi they may think fit. And the Muter I
' ctrl rig hie diseretiaa r to comminuting emit reserved bidding
Mrs pink., or say of thane, or their rolicitors; and the Master,
pada* to such see, If he shall think fit, shall ewe to be put
Meier • mated cote, and delivered to the person appointed to rte, a
haler tartar of the sum at which he shall fie such reserved Marne
friar let. And in use no person Shaft tad a price equal to or
Miller Ulan the turn =mired in the mold note, thi-n the Master, or
the rem appointed by him to sea the said property shall declare
that ear tot is not sol but re been bought into account of the per-
inea Miereeted in or Eutitled to the property.
L That when any property Or directed to be sold before the Muter,
the Mutt r shall be at ratty to fit on amount to be paid as a depo-
sit by the purchasers respectively at surh ails, sad to appoint tome
promi person to receive the game, who, if required by the Master,
chant give Kearny. to be approved of by the Master, duly to account
for and pay what be shall receive in respect of such deposit in such
manner at the court shall have directed In respect to the TO,Olifl, to
arise from etch role; oral the pers.= smarted to receive such depo-
alts shag, within such time Or the Muter sh dl appoint, and without
any special order for the purlieu, pay the monies which he rah
creel e la met et tfo reef ;the amount of such moneys to tie certified
by the Maur} in such manner es the mart shall have directed with
named to the mon.; is to artre from the rate.
4. That when one property is directed to be sold before the Mateo-,
the Master ehali be at liberty, either before or after such property
she hone been pot up :or Nate b• public auction, to erectly proposal*
ter the sale thereof. It any par thereof, by private contract ; end he
shad stake his repo t thereiif, with bin opinion thereon, to the court,
which report shall be wubmitted to the court foe confirmation in Cr
MOM sorrier .I.slepOrt.illlotk: upon op clot referenee as to macs ty
private coteract.
(Signed) Truro, C. ; John Ittenilly, M. R.; 1. L. Knight Bruce,
V. C.; Clanworth, V. C.; G. J. True, V. C.

Mr. Lawrence supported.
Mr. Linklater opposed for the assignees on the ground
that the bankrupts were insolvent when they began trade,
and were hopelessly so when they incurred debts to the
amount of 1,8001. The whole account of assets realised
under the joint estate was 111.
Bradbury was examined at considerable length as to the
items of his account. Ile had been employed come years in
the house of Kingsford and Ley; his business was to attend
to the foreign exchanges. Had known great fluctu-
ations in the price of corn; in 1846, wheat was at 10.31. a
quarter. He had known the price fluctuate 20s. a day before
the free-trade measures. Lowe, who brought in the capital,
had no previous knowledge of the trade. There was a good
chance of success, but they had not sufficient capital. Since
they commenced in February 1840, the markets had been
continually falling, with ono exception; wheat was 4.35. a
quarter when they begnn, it was now 38s. They bought
foreign wheat—not by sample, but by general description.
Sometimes a worse quality was sent, and they were fre-
quently mixed. For one good cargo they often received two
of an tub:rine description. The grain was gathered up from
number of small millers, and shipped in bags as of the
same quality.
Lowe aeposeel that he had borrowed the .300/., which ho
advanced at the commencement of the partnership.
Mr. Linklater urged that this was nothing more than an
attempt on the part of two insolvent men to take advantage
of the fluctuations of the market. When these weut
against them they obtained advances on their goods from
brokers, and had not paid their creditors a farthing. Their
principal creditors resided at Riga and l)antzfe, and had
been doubtless imposed on by the circumstance of Brad-
bury's connection with the house of Kingsford and Ley.
The report of the official assignee ',hewed that the bank-
rupts had been keeping their books in such a way as to defy
all scrutiny. The result was that there was a cash defi-
ciency of 1151!., for which they were unable to account.
Mr. Lawrence contended that the capital, though
borrowed money, NAI:s legitimately employed for the
purposes of the trade, the best possible test of the
honesty of the bankrupts' intentions. They had adopted
the usual mode of disposing of their cargoes, hav-
ing entrusted them to Messrs. Coventry and Shep-
herd, who would doubtless obtain the beat prices ; and the
advances were applied in diseltarge of their trade debts. It
was es :,lent that loss had arisen faum the defective quality of
the grain consigned to the bankrupts, and still more by the
fall in the markets, from which thousands had suffered in
common with themselves. It would not be contended that
the bankrupts ought immediately to have closed their trans-
actions, because the markets were falling ; for within the
last few weeks there had been a rise. There was no charge
of fraud, or of making forced sales. In the case of Elliott,
before Mr. Commissioner Goulburn, the assignees had sold
all the corn in hand; while the result showed that, had
they held it 12 mouths, it would have realised 20s. in the
pound to the creditors. It was evident that the trade was
a very speculative one, and ought to be dealt with accord-
ingly. The personal expenditure had been moderate. The
ehart;a of imperfect bookkeeping hail ben met by the fact
that the accounts of persons in their way of business were
to a large extent kept by the brokers.
Ilia Honour said that one of these bankrupts was con-
fessedly behind the world 118/., the other had only a bor-
rowed capital of 5001., and they had engaged in a trade
which was in its nature peculiarly hazardous. The one
actually behind the world was in every respect unjustifi-
able; the other not so much so; but this distiecticit was
always to be drawn with respect to borrowed capital, that
the man bringing it in did not know the hour when he
might be compelled to withdraw it. Ile was not himself
the master of his own funds, and therefore the 500/.
brought in by Lowe did not warrant their entering into
dangerous speculations. That men ustered into this ha-
zareluus trade was perfectly true, but no man was justified
in doing so except in the most cautious manner, and unless
he lead funds to fall back upon. They were utterly want-
ing in this case; and it was a most extraordinary circum-
stance that every one of their transactions hied turiteeVout a
loss. Why was this? The unfortunate experieuce of that
eaurt showed numerous instances of reckless men entering
into trade for the mere purpose of subsistence for a greater
or less period of time, then failing, and leaving the cre-
ditors to bear the burden of that 7subsistenee. If that sub-
sistence were of the lowest character, the most eco-
nomical that could be imagined, still it was unjustifiable
in turn to live out of the pockets of their creditors.
That was not the case here ; instead of the expenditure
being the lowest that could be justified, it was uujustitiably
high. Bradbury had drawn out of the concern 5331.; about
half that was attributed to personal expenditure, the re-
mainder, 21,11., there was no account of. Lowe stood in a
much more justifiable position ; for, although the court did
not attach much value to borrowed capital, yet he had
s 9111(., and he had been content with cleaning out about
half what Isis partner had done. Ile therefore came to the
conclusion that this was un unjustifiable, reckless, and im-
provident trading, but he did not think it of such a cha-
racter as would warrant the refusal of the certificate altoge-
ther. Ile should suspend llrailbury's certificate a consider-
able time, for two years. Lowe stood in a somewhat better
position. Ile bad not been the active partner ; his expen-
diture was less ; and he had some slight justification in
his borrowing 500/., which appeared not yet to have been
clahued against him, and which could not be claimed
against the joint estate. His certificate would therefore
only be suspended for six months ; both certificates to he
of the third class. lie should grant protection; because he
thought that these men had better return to their position
as clerks ; and if the creditors locked them up, they would
not be good clerks. Men should not be in too great a hurry
to quit the safe position of clerks, until they got capital of
their own; then the desire to do so was very limitable.
Hail it appeared that there was an intention of getting
these goods from abroad, for the purpose of unduly selling
them and unduly applying the proceeds, he should have
held that to be a gross fraud, and one against which
foreigners especially were entitled to protection ; but he
did not set the case in that light. The bankrupts hail been
exceedingly reckless, but he did not find that they had
been fraudulent.

EQUITY COURTS.—SATCRDAL
iii.vost rev Low el/ ANCALLOS.
DOYLE r. WILIOIIT.

Mr. It. Palmer salt this was a petition on behalf of Lord
Edward Howard.

The Lord Chancollor desired him to apply to Vice Chan-
cellor Knight Bruce ; he had spoken to him about the mat-
ter and he would hear it immediately. Nit. Palmer and
Mr. Itolt then left the court in haste to go to the Vice
Chancellor's court.
Daw r. CLAUKE.—Loco IMPRISONMENT rou DEBT;
ONET RELIEF IN THE COEUT lOU IXoULYENT DEBTORS.

A petition was presented in this case, argued last Sa-
turday by Mr. J. Parker and Mr. Frith, for the discharge,
under Sir Edward Sugden's act, 1 Wm. IV., cap. 30, sec.
16, of the defendant, Thomas Clarke, from the Queen's
Beath prison—where be has been biller 1827, for disobedi-
ence to the orders of this court. The application was
opposed by Mr. Morris and Mr. Ilughes, on the ground
that the case did not come within Sugden's Act.
The Lord Chancellor now, in giving his judgment, stated
the origin and history of the various proceedings taken by
and against the defendant and his brother Valentine Clarke,
now deceased. The disputes ori,tinatcd in the administra-
tion of the estate of Eli Stott, father of the plaintiff, Mrs.
Dew. Ile was a found a lunatic in 1821, and died the same
year leaving property of the value of 40,01101., end a will
made in 1818, prior to the finding of the lunacy. The
executors named in that will renounced probate, under the
impression that the testator was nut sane at the time he
made the will. Then the testator's nephews, Valentine
and lknjamin Clarke, the residuary legatees named in the
will, applied to the Ecclesiastical Court, and having there
obtained administration with the will annexed, proceeded
to take possession of the estate. Mrs. Dew, the only child
and sole next of kin of the testator, instituted a suit in the
Ecclesiastical Court to rem' the administration, upon the
ground of the insanity, which consisted of a monomania
respecting herself, always speaking of her as a worthless,
vile, and demoniacal person, and treating her with the
greatest harshness and cruelty. The daughter succeeded in
Doctors' Commons, and the administration granted to the
Clarke' was recalled, and administration was granted to
Mrs. Dew. There was then an appeal to the Court of Dele-
gates, where the decree of the court below was affirmed.
(For those proceedings see 1 (laggard, 311; 1 Addams,
288; 2 Addams, 103 ; and 3 Addams, 79) Mrs. Dew then
filed he r bill in this court against the two Clarkes for an
account of the monies received by them from the estate of
the deceased. An order was made on them to produce cer-
tain papers and documents in their possession relat-
ing to the estate, and also to nay into court a sum
of about 50001. admitted to have been received by them.
They had made application for a commission of review,
which tame before Lord Lyndhurst, then Lord Chancellor,
who refused the application. They then tiled a bill against
Mrs. Dew and others, but that suit was not prosecuted,
Thomas Clarke having been in prison at that time for dis-
obedience to the order of the court. Ilia brother Valentine
had gone out of the country and taken the documents with
him, and died abroad. (For an account of the proceedings
in the suits in this court, see 1 Simons and Stuart, 108 ;
Russell, 373 ; 5 Russell, 16.3 ; and 1 Mylne and Keen,
10:3.) The costs of all these proceedings exceeded 10,0001.,
all of which were paid out of Eli Stott's estate. There were
several attachments tor costs against Thomas Clarke besides
the order of attachment for non-payment of the 6,0001.
That sum was a debt, and that court had not the power to
discharge the prisoner from it. The Blaster of the Rolls
has already discharged him from the contempt for non-
production of the documents, it appearing that Valentine
Clarke had taken them with him, but ho refused to dis-
charge him from the contempt as to the 5,0001. That was
as just ► debt as any debt could be to the estate of Eli
Stutt. If the petitioner seriously wished to be discharged
from prison his course was to pay the debt, or give up all
the property he had towards the payment of it, and apply
to the court for relief of insolvent debtors, and he would,
upon giving up all his property, obtain his discharge.
Whatever disposition he (the Lord Chancellor) may have,
to discharge him he had not the power. The case did not
come under Sir. E. Sugden's Act, and he must refuse the
prayer of the petition.

I VICIXNANCILLOII KNIGHT Barer.
nH COLLIE'S CHAILITY.

Mr. Cooper and Mr. Townsend supported the petition of
two out of Live of the trustees of the above charity seckintr
an appointment of new trustees, and the settlement of a
'theme for the future administration of the charity. The
• •

original trusts, declared in the 31st Elizabeth, were that
rents and profits should be employed in the reparation of
the parish church, the amendment of the highways, the
easing and discharging of the poorest of the parish charged
towards setting forth of soldiers, the payment of taxes, or
else distressed and brought casually into poverty or other-
wise, for the commonwealth of the parishioners, the rents
to be gathered by the churchwardens or others, by appoint-
ment of the most substantial men thereof.

INSOLVENT DEBTORS' COURT—SATunDAT.
gavot' MR. Commisaissiut
Ix VIZ NAFIER OF FREDERICK Tots FOWLER.

This insolvent, a newspaper reporter, who applied under
the Protection Act, was opposed by Mr. Sargood for
Mr. Francis Thomas Gell, an attorney. He defended him
self.
The complaint urged against the insolvent was that he
had incurred a debt with the opposing creditor without
reasonable or probable expectation of payment. It ap-
peared that the insolvent had employed Mr. Gell to bring
an action against the Daily News for an alleged libel in
reference to the Bishop of London's charge delivered at
St. Paul's on Saturday, the 2nd November. On the 4th of
that month an article, which was now read in court, ap-
peared. Three writs were issued at the suit of the insol-
vent, and two other reporters named Woods and Potter.
According to the insolvent's statement in his schedule, Mr.
Gal was to take the case into court for 71. 'lids allega-
tion was denied by Mr. Gal, who stated that he was to be
paid the costs out of pocket as he proceeded with the action.
He had not received one shilling. Ile brought an action
against the insolvent fur 31!. 7s. 7d. It was refs reed to the
Muter for intuition, and he struck off several items, re-
ducing the bill to 211. 18s. Ekl. It was on account of the
judgment so obtained that the insolvent had petitioned the
court, and on the question being raised the court decided
that an inquiry into the cause of the proceedings was legi-
timate.
On his examination the insolvent stated that he was the
party who furnished the daily papers with a copy of the
Bishop of London's charge. It was delivered on Saturday,
the and of November, and he obtained it on the Tuesday
preceding. He had made a copy of it at Fulham palace,
Herm LORD Ciarwosm (Vice-thsneelloej with the assistance of two other reporters, named Woods
IN RE THE GLOUCESTER, CHEPSTOW, AND FORRET OP and Potter. He made six copies, which were left with the
DEAN JUNCTION RAILWAY COMPANY.—PETITION TO DIE- bishop, and brought the top slips away. He first arranged
CHARGE A WINDING-Cr ORDER REFUSED. with the bishop respecting the charge by correspondence,
Lord Cranworth delivered judgment in this ease, and afterwards by a personal interview. It was by his (in-
which was a petition to dismiss an order made for the wind-
solvent's) suggestion that the copies were left with the
ing up of the above company on the 2atli of January. Ilia bishop. They were for the daily papers. The copies were
lordship said that the petition stated that the original left with the bishop to secure him being anticipated in the
order was made upon the application of Mr. George publication of the charge. He did not ask his lordshipm
the's per-
Man, and it set forth the prospectus of the company, and mission to take the seventh copy. Ile had no authority fro
that a number of shares had been allotted, including ten daily papers to apply to the bishop further than his general
shares to Mr. Man—that the undertaking was projected in authority as a reporter. lie was known to the bishop as a
1843, and it was found in 1846 that it would not be pros- reporter, and he dined at the palace whilst he was making
peens, whereupon a meeting of the shareholders took the copy. The bishop received him as a general reporter.
plase, at which it was agreed that 28s. per share The Guardian newspaper set up the charge from the copy,
elartild be returned to those who had paid de-
and pulled him slips, by which he supplied the other
rides upon their shares that Mr. Man had papers. He did not make 1001. by the charge. The Muss-
ing Chronicle gave him five or six guineas. The Times
pald 21/., and had received back from the directors 111.
This petition alleged that Mr. Man had no right to have paid him by the line, 10/. as. Gd. lie got five
obtained the order for winding up, on the ground that his guineas from the Guardian, five guineas from the
interest was so small, 71. being all that was owing to him, /Sat, three guineas front the Standard, and three
and also that it was a fraud on the part of Mr. Man, be- guineas from the Chrittian Times. All that wu
cause be had accepted the lit in lieu of all demand', that made was 301. between the three—Woods, l'otter,
the transaction was not bona tide and had been improptrly and himself. He got the six copies front the bishop
gut up by the solicitors. The petition alleged that the soli- In St. Pours Cathedral. lie had arranged with the bishop
citon, for the purpose of obtaining payment of their ex• that it should not be published before it was delivered. lie
penes in getting up the company, had beat about to find had }so authority from the Daily Noes to apply to the
some one to make the application for the winding-up order, ti-sop. He considered that the article in that paper was a
and had induced Mr. Man to come forward. libel on him. After the article in the Daily Ames he did
Ilia lordship said that in his view of the cue it was un- not call on the bishop. Ile had had a correspondence with
necessary to say whether the case alleged in support of the his lordship, but ha (lid not mean to put it in evidence.
petition was made out ;he was inclined to think it Lad Mr. Gell stated that the insolvent, Woods, and Potter
been, for the resolution passed at the meeting of the called on hint to bring actions for libel against the Daily
shareholders was, that on payment of the 28s. per share News for the article. They were to pay the costs out of
the scrip should be given up. That would be a good reason pocket. Only one action was carried on. The insolvent
for supposing that wheu the party gave up the scrip he never paid him, and he did not proceed to trial, but sued
I meant the receipt of the money to be in lieu of all demands, him for his own costs. The insolvent never confided to him
but he could not look to that circumstance, because thew that he had taken a secret copy. If he had known that the
petitioners had not taken proceedings when it was first defendants would have been able to have proved such a
known that the order had been obtained. It appeared that circumstance he would not have incurred the expenses.
the directors did not Immediately step forward to put a atop It was not true that the cause was to be carried into court
to the order, but they allowed the matter to go on. An for 71. The insolvent had defended his own case, and had
official manager was appointed, and expenses incurred. abused him before the court and jury. That induced him
After this it was too late to come to the court to set aside , now to come forward and contradict the charges made
the order. It might be doubtful whether under the oth I against him.
Section of the Windiug-up Act the court could make an I The insolventeross-examined Mr. Gellon matters relating
order ou this petition ; but this it was unnecessary to de- to his profession, and occupied some time.
tide, as he had come to the conclusion that the petition I Some discussion took place in the course of the case, and
be must dismissed with costs on the ground of the delay of the question was raised whether the Bishop of London
the directors. should be asked to attend the court.

Mr. Wigram and Mr. Berkeley, appeared for the re-
spondents.
The Vice-Chancellor directed the appointment of the new

trustees to be selected by the vicar and two magistrates of
the county, and to comprise the churchwardens; and that
the rents and profits of the estates should be applied to the
repairs of the church of Upton and of the highways, so that
not more than half should be applied towards easing the
parish rates.
Uzwe AND FLAX COMPANT.—WINDINO-UP Acts.
Mr. Malins and Mr. Gilmour supported a petition, seek-
ing to discharge an order which had been made for winding
up the above company.
Mr. Cooper, Mr. Uncoil, Mr. Metcalfe, and Mr Swift, for
the respondents, opposed the opposition.
Mr. Whitworth, the registrar of joint stock companies,
attended in court to inform the Vice-Chancellor that then
were circumstances attending the alleged deed of settle-
ment of the company of such a nature as would render it
proper to take some steps in respect of it.
The ease was ultimately ordered to stand over in order
that one of the respondents, a solicitor, in whose possession
the deed was stated to be, might produce it, so that it might
be impounded.