The Express.
London, England, 1856-06-26 00:00:00

COURT OF 1
/1110112 111.

—Juan 25.
LAMM
IN MB J. W. NATION

-•- • --
This was Beeman** meeting. The bankrupt was described as a
lighterniam,ef Ifeltaladese, Balterbitke, and elsewhere, trading
nadir the Irmo= end Co.
kir. Immenee
Mr. Ow, Ur e=o. offend as !wahine.
Mr. WAWA the in Ifs report on the ease, stated
that the Winne mmemmeedas2"essume at the beginning of 1834
with a islielemey of 1111. Be now owed to unsecured creditors
le Om belllagssoilty, 1,1011.; liabilities on bits of ex.
!OW. Theemern went returned at 2531. in good debts, and
Ini-7610018tri Prentirlg bald by creditors, 1,0001. The profits on
tabs hesa ;BM fba is. year and stereo months) ; expenses,
LIM.; hems and primal ditto, 41/1.; lowa, 1.1551.
dou
atiMemelag ble present amo
bankrupt
bad powereunts with d
a deli.
Were wee me bt the a
af 1501. In INI, for he then paid that sum into
the ihm of Covington and Om, which at that time toordeted of James
and Jame Covington, jun., the bankrupt being ad-
rZati partner, and the elder Covington retiring. The India,
appeared to have been carried on by Covington, jun. and the bank.
rapt till June, 1834 when. dineolutlon took plus, Covington retiring,
sad the bankrupt continuing to Wads under the Arm of Coviogton
and Co. At that time It was found that the capital of Covington, ion,.
wee 3,7:191., and that of Covington, jun., 1,9001. The bankrupt made
Memel: rossonsibis far time amounts, and by way of security, trans.
fried his interest in all the stock and plant, consisting of twenty
t:b tmhent..7.,os,Lintitoonat ; the
their .nooriuereter,
.w:dsi, that whilst [h
toea got ey
to
nothing. After this arrangememt the binkrupt appeared to have bad
great difficulty, from want of capital, in meting hie en-
gagement., and he commenced raising money by means of mom
modation Them Marathons, during the time over which the
belatemsbeet extended, mounted to the large sum of 11,3951, and
aatonnted for the large amount paid for interest and commis-
sion. Ms books had bees well kept, and corroborated the tialanee-
ehese.

Kr. Lomee put the ewe to the court is one of misfortune, to
sone extent.
. . _

Tith-iicialasimut—lt appears to me as though the two outgoing
;orison bad conspired to take this young man's money from him,
and gin him bottling In return. Thy mews him to pay 7Sul.,
111116111.1 to be Montt' into the drm ; Is done, and the elder
Osrlbtkm themedbuely puts at into his pocast and beet' the firm. It
scheme to take him in.
Mr. gun said this was not exactly the fact. Ilte bankrupt had
paid Ws 7.01. for • share la the Nathan ; and though Mr. Covingtoo,
sm., ce leaving he firm, thew out so much capital, be :alt more be-
hmd In stock, phut, no.
The fkonmissioner—lt comes to the same thing, call it by what
you will.
Mr. !an—The transmittal was juat so fair and proper as when
os• man some to buy • bone of another and pays him so much
money tor it.
The Othotokrioner —I sanest help thinking that this young man
has been impend open. Ho does not appear to ban much wit or
penetration, sad two moor got bold of him who had • great deal
more than he bad. As it is partly a misfortune for • man in busi-
ness to be without wit or penetration, he may take an immediate
aertalicato of the secood class, and I bops that the next time he Ands
Month( with 7301. in his pocket he will take oars how be gives it
'Tr. Bun said be was desirous to state that when the bankrupt
arranged for the punthaas of • share to the badness be wee emoted
by can of the ablest solicitors In Chancery-labs.

117001 MI. commie:mu 10XXA1O1le
IN ma PHILLIPS BROTlttla.
The bankrupts were deecrlbed as general merchants, of 53, King
Willlam•itreet, and this day printp on aicatien for their cent.
cats. The following are theipal Items of the halance•theet,
prepared by iteorrs. Butler and Macpherson:—Dr.: To creditor,
Rammed, 25,4141. ; ditto to be paid In full, : profits, 1,1301.;
our proportion of the Finnic, meta of Eaton mid Co., 3,2571.; Bahl-
lities,l,BlBl. ; onkel at commencement, 2,2144 Cr.: By claim upon
the estate of Eaton and Co., of Bombay 11,337 f.; trade uproars,
1,9114; imam 26,4814 ; partners' drawings, 2,2024;
1,8:84 ; L. and B, Phillips'. loan per contra, 1,2001.
There was no opposition. and no statement was made as to bringing
t dote the mum the features of the case.
flia Honour raid this was • very uneatisfastory slate of things;
there was nothing before bum upon which be could form a judgmenL
As the court was deciding in the dark, the bankrupts might take a
medical certificate —one of tbe second clam.