The Northern Daily Times.
Liverpool, Merseyside, England, 1856-01-21 00:00:00

COURT OF BANKR UPTCY.-JAN. 18

(BEFORE MB.. COM;DSIONER EVANS.)
IN RE STRAIIAN, PAUL, AND BATES.—A petition had been
presented under this bankruptcy by the Rev. Henry Snow, of
Bibury, in Gloucestershire (brother of Mr. Strahan), praying
to be declared entitled, as trustee under the will of the late
Mrs. Snow, to 509 Sambre and Meuse iron shares, which, at
the time of the bankruptcy, were held by his brother, Mr-
Strahan, (a co-trustee) and were deposited in the bank in a
wrapper, labelled with the names of the trustees. Tll,O
property being in " the order and disposition of the bankrupts,''
had of course been taken possession of by the assign, cs

and the question arose whether there had

an appropriation of the shares as to render them the
property of the trustees. To-day was appointed for
taking evidence on this point. Mr Hannan appeared for the
assignees, and Mr. Bigley for the claimant. Wm. Strahan,
one of the bankrupts, who had been brouzht up from pri.ont
deposed,—l and my brother, the Rev. Henry Snow, were
appointed by my mother executors of her will, and trustees
under it. • She bequeathed £10,295 in the three per cent.

Consols in trust to my brother Llenty Snow and mdse

Robert Snow and his children. The proceeds of her property
tvere invested in the purchase of consols to that amount.
Some time after her death, in Match 1849, we sold Out that

Stock, and lent the proceeds to S:rahan, Panl, and Ba
The books will show when that took place. It was heft
the death of the late Sir John Paul, which took pl

hi 1851

It was done in order to

instead of the interest on Coils ;€,•
m the life of the late Sir J. Paul were
emrity. On his death the bank received the
proceeds of those two policies, and I gave some other sec:pities
instead. There are regular entries of the transactions in the

Two policies

but not of the receipts of the proceeds of the pol
acted entirely the business connected with my mot

My brother Ilenry must have signed the authority for

stock ; but he has taken no subsequent part
An entry in the stock- book of " 509 Sambre

Meuse iron shares elven in exchange for the policies," was made
by me in April, 1855. I had the shares at the bank at the time,
wrapped in a paper. At the same time I wrote on the wrapper,
and Henry Snow, trustees," and added 100 shareslir"
409 already in the packet. This must have been done either at

the time or shortly before, as I had not had the shares very loll*,
About the 2nd or 3rd of April, having taken fright about the
state of the bank, I went out and bought a note of hand stain?.
dated it back for the previous September, and deposited
it with the shares. The shares at that time were of more valuo
than they are now ; and 1 might have made use of them for,
the hank at any time, if I had not put them by and considered
them as sacred. 1 had previously put by some Charleroi and
Erqueilines shares ; but there is no entry in the books to show
the appropriation of those shares. The entry referred to is the
Ally one showing the appropriation of the Sambre and Meuse
shares. I exchanged the Charleroi shares for the Sambre iroa
shares, hut no money passed. I would not have raised monq
on them. I exchanged with Mr. Arnold, who was 0
director in both companies. The exchange must
have been made two years ago. The Ist of September,
1854, the date of the note of hand, has no connection what.
ever with the date of these transactions. That date g 159
merely put to conceal the real date of the transaction !
was on the Ist of January, 1854, that I exchanged the
Charleroi for the Sambre shares. The stock, before it w 59
sold out, stood in the name of William Strahan and Henri
Snow. My brother joined with me in the authority to sell'.
The proceeds were lent to the bank immediately, and 53
account was opened in our books as an ordinary banking
account r I intimated to my brother at the time that there
was security, and he has supposed so ever since, at least I hay°
never told him to time contrary. 'When the proceeds of the.policie°
on Sir J. Paul's life were received they went into the bank, and
paid off part of -Irts debt to tho bank ! I immediately sub-
stituted the Charleroi shares as security, but I did not
mention this to my brother, nor the exchange of the Charleroi:
for the Sambre shares, I mentioned it to my partners, but net,
to my brother. I might have raised money on these shares
at any time, but that I considered them sacred as security. I'
cannot say when I put the additional 100 shares into tl.e paper.
After hearing Mr. Bagley and Mr. Hannan, his honour de-,,
ferred his judgment till Thursday next.