The Express.
London, England, 1850-06-12 00:00:00

tato intelligence.

rap 's partial @spirituel' from Nev., 1846, to July, NW,
nearly Tour yeses wee 22,0001.1 Rom which mac be de-
flected at least 3,000!. for eollege ezeonissee=l:llll4s,
trine a personal expenditure of 19, than
5,0001 a year. Now this not reckless =tiare in a
penes who had aeon 7,10121. • year. Is to this
gars of the ease gleam was made lus the gift of 6.0001. to
Mr. Webster, sad tbe eabsegesel expeeditens of 8,3061. for
his benefit. As to lids. Me Ilesskrupt'a release IS. that
Mr. Welder had lest Mr to meet bie early diM.
mattes, aad be dee • 1•101111• b••
tween Mr. We mad met Weikel ef his.
Bat it is Namely le mass these ezpieeillses. Tbe
6,0001. was ghee se the Web, 1817. eel ea that day
the bask/met resolved SAW. hem Mew Meths eM
Co. ; used when be sesegid to my far the hipmeeneeele as
Willem leek he had i 111110,0021. Is reserve, mei ef MOM
every pane is at liberty Is glee away them ands set of Ms
ewe messy if he Mmes. es far to depart frees the mown
=of meakiaiL The 'My osier shares made splint the
pt ea peblis meads was that be had made
swag with all his reassess pesperty is favour
of Dials jar ea the eve of basks Gad
Alb abuse yr feuded oat his execution of the two
deeds of the 22ed of April, sad the let of May, 1849. Now
it km always hem coesidered by me as as impertaat part of
es daty here, to hapless en all tradeelishat although they
are at liberty to tempi, for a living es m there is a fair
abases of seism remalaies, sad their item are willing,
hy_ebstaisies from primate by salt, to allow less to do so,
▪ that they are bowed whoa all reesionsble ranee is gene,
sled penes by andiron begins, to look their stain steadily
la Oak foes. and if they see no fair ground of hop, sad
seem a their weaken will wait no layer, UM& to
plasm themerves entirely In the hands of their creditor, and
U mesessey submit to bankruptcy, showing no favour to one
ember more than another. Prima facie the application of
tbst yriastple to the present case, would require condemn.
dee etas kankrept as far an unfair preference of Beek, bat
era Sall mineMeratioe Ire of opinion that this Is an en.
etyliseel NM First, some allowance ought to be made for
the mums* youth of the bankrupt, some for the drew&
Orme that be could hardly be deemed • trader, soar for the
ihmeptirsof whirr bas boon made the victim, sad some
in the greatems et the rule that has befallen
bin; which, ewers*, must operme in itself as severe pun.
ishesest. But I have another difficulty in dealing with this
part of the ease on the strict principle, and that is, that the
Anwar bas thought it best to settle all guarder' with Mr.
Beale by accepting from hint 1,0001. la sedisetisa of all
claims, and hence then has not been that tel laretigatioa
of the facts connected with the executiaa of the two
deeds which would be monks to enable me to fors
a judicial opinion on the merits of the transac-
tions. An obvious excuse, however, seen itself
for the execution of the deed of the UM of April;
that April was the very eranniononsent of the Corm-
garden opera season, and the bankrupt might have Aright
that in inducing Beale to furnish funds to go on with, be
was dreg the beet he could for the creditors, whose imme-
diate subeisteues and ultimate payment depended on the
theatre being kept open. With regard to the deed of the
Ist May, it seems is fast thee the bankrupt was net a or-
TWIN' party; the deed related to Mr. Webster's property,
and it was only executed by the bankrupt, in order
that any subsequent purchaser under Beale might ,
be better satisfied. Under these circumstances.
sad kris, regard to all these considerations, I
do not feel myself in • portion to pronounce judicially int
the eertifieate ought to be postponed with respect to the
alleged safer disposition of property on the eve of bank-
ruptcy. It remains to midair the private complaint of the
assignor. He was a college friend three or font years older
than the bankrupt In Much, 1846, being then untainted,
it most be presumed, with his young friend's eardrum's
about wary and his unfitness to be trusted with it, he
thou b% fit to lend him 4,600!., to be repaid at the option
of either party on 12 months' cotta being given.
Ia February, 1848, he or his friends commenced an
action to recover the money immediately with in-
terest. The bankrupt paid the interest, but as to the
principal be declined paying at that time on the ground that
he had not had twelve months notice. The assignee know-
ing the defence was right in point of law submitted, gave'
immediate notice, and renewed his action in February, 1849.
Meanwhile, the bankrupt had involved himself in the opera
speculation, and was in hot utterly ruined. Now, is there
anything in these circantstances which should de-
prive the bankrupt of his certificate? I thick not.
The defence he made was justifiable at the time.
The lender had agreed that repayment should
sot be made until after twelve months notice, and
that notice had not been given. But then it is insisted that
I ought, in 'treating the certificate, to attach the condition
that the bankrupt shall pay 10.. in the pound on his debts
out of future assets, sad a decision something like that In
Lord Huntingtower's cue was cited to me, I do not know
the exact particulars of that ease, I only know it was very
peculiar ; bet I confess I have no inclination to attach such
a condition to • certificate in say ease. I refused to do so in
Jellies s. The world of industry in which we live is one,
in which every man net living on accumulations is
struggling for • subsistence. In that struggle it is difficult
enough for any one to wend his way, even with character
clear, and some hing to begin with. What then may be
expected to be with the fate of one, who not only begins with
nothing, but is weighed down by the stain of bankruptcy
and by an unpaid debt of 10'. in the pound oat 33,0001. I
see nothing for a person so burthened but to lie down iu
hopeless deepen and abandon all future exertioa. Wm the
tarts of this bankrupt far greater than they area would not
condemn him to such • fate. It may be said
that this bankrupt has rich relations. Perhaps he
has; bat if it were true, this argument is one which will
weigh with him. I will never be a party to the esta-
blishing of any such doctrine, that rich relations are under
any obligation to pay the debts of extravagant connexions.
A coutrary docrine is • far more wholesome one. It is
better to lay it down that • creditor shall not have means of
pressure, direct or indirect, upon rick relations, and thus
check the giving credit to the young and foolish. It is to
the great prevalence of this credit, which in the long run
leads to the establishment of laws, which, though intended
to check the unwholesome credit only, which is
given to the idle, such as that given in Lord Hantingtower's
ease, and again in this, has a tendency to impede that
wholesome credit which by enabling struggling industry to
exercise its calling is the source of public wealth. And for
whose benefit am 1 to impose this berth's ?—for that of the
✓eign,* ? or for that or the g 1 body of creditors ? If
for the assignee, I answer, that he knew at the time he lent
the money that he was lending to a spendthrift, that the
money was to meet past or future extravagance. Why
should the law go out of its way to aid such lenders ?
They are public enemies. They foster extravagance
encourage idleness, and disturb the happiness of families.
Even those who advance money to enable others to educate
themselves, or go into business, must submit to the loss of
what they have lent, if circumstances turn out unfavour-
able ; and if this be the fate of those who advance money
fur praiseworthy purposes, why should it not be the fate of
those who advance money to supuly extravagances. Surely
the loss of what has been so lent is not inappropriate punish-
ment for peters who thus interfere between the young and
their natural advisers and protectors. But it may be said
that I ought to impose that condition for the
benefit of the other creditors. To that I answer
that I believe there is not one who really wishes it. 1 have
now bean engaged 26 year. in administering the law of
bankruptcy, and in that time I have ob erred that the most
marked feature in the conduct of creditors as a body towards
debtors is an unwillingness to press harshly on the fallen,
and 1 doubt not that that is :he feeling which pervades the
body of creditors in this case. At all events not one has
appeared to make the slightest personal complaint
against the bankrupt. But if a contrary feeling did
prevail, I should not yield to it, for I look upon the general
body of creditors in Ibis case as oo speculators with the
bankrupt; and, as the speculation has been a total failure,
and be th greatest sufferer, all ought to bear their share of
the siallortene without refusing. On the whole, I think,
upon full consideration of all the circumstances, kat I shall
best discharge my public duty by granting the bankrupt •
Mamie certificate, without attaching any condition. 1 hope
that the terrible lesson he has received may be of use to him
in after life.—Certificate printed accordingly.

COURT OF EXCHEQUER—YLETIMDAT.
amass ta um.. _ _

Li ........... ...........
TIM BONO' 011 EXITTIM-iVDOIIRXT,-RCLII

XVII 0/LANTILD.

Is this is.., bri.ily TroTh'irToortoiii-astertley's Frprsee.
Sir P. Pollock mid, the and his seriously re end this
Losesormitszoved on Thundey last by air Fitesoy Kelly. The
the am a Um use head, and the rest weight
justly dose to the tosesrrent opinions of two taxa to the
other hand require from es the utmost deliberetiss Were
we proceed either to manor refuse lilt rale- But. l°18".-
row is the last day of Triaity Term, end the lois viesties
whisk follows it, would, ia area we lima ultimately
gang • rah %Ili. Myra this iteettios hem
wag emeluled before nest Michaelmas Pam ;-4 delay
lily prejudicial to all parties. We ea by no WPM pre-
pared to differ from the jimitotents already gives, bet before
we prosaism our ows elusion, whosoever that may boo, we
*Mk It right that en *paid amide= gofer to and 'irefully
mamas all the authorities sited, and this se yet we have sot
had enticient time a do. tales these eircutessalles.
Mush as by grads" a rule aid to-day namable peremp-
torily tomorrow, we ran at the attars after the pretest
Imm deft hentely bear end slansoin• this rale (es • motion
E daisy this term), sad se pronounce air somidered
t beim the simile begin, we payees at am M'
*lea that sasses. tf it were sot for the psesliar arose
Min year, we should bra &harmed farther be-
Irre we took this step. TM course we lama to
= tittill, 'however, give se the diastase of farther
, if any esa he Worded, sal particularly es one
moist, sot armrest!l mak adverted to in the prerioes dis-
tworiewe. sesselv, w6ethee, eves 'imposing the 9th section
tel thole Men. VI 11. fa be slll I. terse, end to arply to
ash • ease as this, this is a " Ganes matter or coatertios
walk touches the Illay"—e point os which several of us at
prima tatertais very gent doubts." Ws shall arrange
with Mr. Baron Parke to take the Guildhall Sittings on
Saturday, June 29, and the following days, satin the
sworements in this ease ere ended, and we oursela a shall
Inset et this plies, end sit from day to day, till tease has
Man shown and this rule has been claimed of.
Rale nisi accordingly.

COURT OF BANKRUFTCT.—YEnTEZDAT.
Suess Ma. CoenOWWOlll2 Fags.
Is is Rowans THollati Dataffiet.D.—Jenounirr.—Tnu
ITattAW °Peru Hovaa, COVWCT
His Honour to-day gave judgmest on the questlos of the
bankrupt's cetUficate. Ho said—This is • very remarkable
ease and very unlike those which usually appear in this
sours. The bankrupt as costing of age in 1845 found him.
oalf melded to a fortune left him by his uncle, who died
about 182.5, which, with its accumulations, amounted to
100,0001. and upwards. He was also entitled, under his fa-
ther'. will, to • revenionary interest of 6,oool.'payable en
lie death of en aunt. His father and uncle had been peel
vets is the brewery of Comb*, Delafield, and Co., and hewn
admitted into the partner.hip on coming of age. He On
became entitled to interest on his capital of 100,0001. at ö
per mat., sad to a share in the annual profits besides, which
usually amounted to 2,3001. He had therefore an WISES Of
about 7.3091. a year. At the end of 1848 he was a nisei
man. On the 12:h of July, 1649, the fiat issued against him.
in debts being 33,0001., his assets about 1,0001. His Alike
cove been fully investigated, his creditors are satisfied that
the truth has been told. his last examination was pissed
without opposition, and he now asks for his certificate,
The assitaee objects partly on public and partly on
private "rounds. The public grounds resolve themselves
Into reckless personal expenditure and en unfair
nuking away of his remaking assets shortly before his
bankruptcy. The private grounds have reference to a loan
by the assignee to the bankrupt in March, 1846. Before
considering the objections I will trace shortly the progress of
this young man from affluence to utter destitution. Having
received the usual school education he was sent to Oxford,
when he continued about three years, during which time
he 'needed his allowance by about 3,0001. and upwards. He
was anxious to pay the debts he had incurred, but was
unable to do so, the very large sum left him by
his uncle not being immediately accessible, and in
consequence he borrowed of the gentleman who after-
wards became petitioning creditor and usage:lee under
the bankruptcy 4.6001, with which, and other ad-
man, he cleared off his debt. On coming of age in No-
vember, 1843, he was admitted, as I have above said, •
parmsr in the brewery, and became 111010 f of his fortune.
Unfortunately for him, he was under the influence of a
strong passion for music. and hence for theatrical entertain-
ments, which brought him into costae with persons willing
to avail themselves of his want of experience and careless.
nem about money, to involve him in spiculations, the risk
of which he wss to ran, and the benefit of which they were
to enjoy. In 1846 he was induced to assist in bringing over the
Brussels Operatic Company to this country. This speculation
turned out a total failure. and he lost by it 2,3001. and upwards.
It would have been well if this trifling loss had operated as •
warning to him not to engage in undertakiags, the details of
which he neither did nor could undentand. However, it
did not; and, in 1847, he withdrew his capital trout the
brewery, and entered into the speculation which soon com-
pleted his ruin. The history of this transaction will best be
gives in hie own words. He says " I know Thomas
Frederick Beale, of 201, Regent-street. I first became
acquainted with him in the spring of 1847. He was then
engaged as menace, of the Royal Italian Opera House,
Covent-garden, for Signor Persiani, who was, at that
time, the lessee. Some time is July, 1847, Beale
IMO SO MD when I was in my box at the theatre, and told
me Persiani had left, and that money was required to pay
the artistes or else the theatre must close ; sad said if I
would lend him my promis)ry note for 3,0001., the Union
Bank or his father would discount it, he promising with Mr.
Chappell", his solicitor, who war then present, to provide for
it at maturity. I consented to this, and gave my promissory
note the folio wing day, and this was afterwards represented
by bills, for whisk I was ultimately obliged to pledge my
Iteversios of 6,0001 ; no part of thhi 3,0001 was repaid to
me, either by Be •le or his attorney. When I gave this bill
I had no cone:ion with the theatre beynad having m
box there. I had no motive in giving this
bill, except to assist the concern. This wm
my first introduction into the pecuniary affairs of the theatre;
and subsequently, about the end of that season (about
August, 18471, dr. Beale induced me to join him in part-
nership, and some memorandum of agreement was prepared
by Mr. Cnappelle, of which I have no copy, but I believe
the terms wen, that I was not to in:ur any liability, present
or future, beyond 15,0001. There was • provision, I believe,
in the agreement, that Beale mu to be at liberty to mike any
nesting-eta he could with Piniaai for obtaining the
theatre, and I believe Beale arranged with him to pay all the
debts upon the theatre, to cautious the existing arrange-
meats, and to release Persian from all liabilities, upon con-
dition of Ponied giving Beale two acceptances of
2,0001. each, and Signor Sale', who was a friend
of Perviani, also agreeing to give four seceptansies of 1,0001
each, anion together 8,0001. By the power thus given to
Beals he tirA upon himself to pay the whole of the existing
engagements of the theatre, the whole of which ultimately
fell upon me, as Beale paid no part of them. Peniani's
bills have all been dishonoured, and hese river been paid.
/Wei paid three of his acceptances by an engagement, but
the balance of the fourth sceeptanc. , I believe about 6401.
still remains due, and I believe that Beale has since given up
the fourth acceptance to Signor Salvi without my authority,
and I consider this belongs to my estate. By this arrangement
of Mr. Dealt', throwing, the liabilities of the former
lanes upon my shoulders I had to pay about 20,0001
The Opera season having terminated la August, 1847,
nothing was done excepting males arrangements for the
ensuing season until November, 1847, when • partnenhip
deed was executed between me aad Beale. Beale did not
bring anything into the concern ; the partnership was dis-
solved in December, 1847, I, by the terms of the dissolution,
taking upon myself all the debts of the theatre, and releasing
Beek Mem all contributions towards the debts and contri-
bution et the theatre. Beals then ceased to are any
ceethanke with the theatre." The object of estering into mush
en undertaking without any experience to guide him is ob-
vious; the rush was, a balance of ices in the season
of PAS of 34,1361., and is the season of 1849 of 25,4531.
He,. this limn undertaking did not satiate his passion
to ventures connected with mask and theatrical engage-
meats, for la the early pert of 1848 he also undertook with
Mr. Charles Mathews to carry on the Lyceum on joint
asessat. This project was soon found unprofitable to him,
end he withdrew after having sustained a Ices of 6,3121
Pestling then engagements, he made • present of 5,0091. to
• musical acquaintance of his Mr. Arthur Webster, with
which Mr Webster had purchased • villa ost the boon of
the Thames, called Willow Bank, and as it was thought de-
sirable that the villa should be improved. he agreed to mast
Mr. Webster in repairing or rather rebaildiag as d decoratLßit.
lathes he ultimately paid about 8,3001. The result of all is
told try himself in thaw words 1 was is fact entirely ruined
at the ead of the season 011148. My balance at my beakers'
was quite exhausted, and I began the utmost of 1849 by a
lean of 2,00 W. from my bankers." As the season &cleansed
his address for money inerseeed, and is April Beale wee
Obliged to advance 1,000/. to pay Mario and Grid. Oa
She 164 k 411 22nd Beale and the bankrupt met, sad so
account wee produeed, by which it appeared that 4,0001.
was this due for salaries, and in order to induce Beale to
sllAOn the theatre, the bankrupt, on the 22nd of
, executed • deed, prepared by Mr. Beale, where-
by ice
atedgeed all his intense ia the theatre, theatrical properties, and debts due be 'attributions to Beals
to cover such advanoes as he had merle, or might make, to
sorry as the theatre, not exceediag 7.0001, avid he himself
retired to ltrusiels to avoid arrest. On the let of May Sol-
hewing he became party to another deed, by which Mr.
Webster conveyed Willow-bank and the PtoPertY Won to
Mr. Beale, also to secure 7,0001. ; and on the 12th of Jul,
follewinfz the fiat issued. Such are the cireamstanoss of this
innotable ease; end it is sow contended that I ought either
SO sane the beakrapt's certificate altogether or postpone the
&imam of it, and add the unditione that the bankrupt
spionlapay 10s. in the pound to kis 'red itors out o any property -Aalel CoNwratilJßle—T•thimkp the new act to
width may hereafter ease iato his possession. Ido aot I amend tho 6 and 6 Viet. 109, widthmissedh I
• rays
gunk, however, that I ought to adopt any nee of • those amen es Monday, was *419. , rempestia g the appointment
courses. The first made against the nahrupt is that asseirdzyment of pariah esentables. Nadir ts. rergperl
his *epee diture was iless. Bet what evidence is there to fees and allowance were ordered to be pail% the-
awed ti:v charge has certainly heard oat el court and it is now that similar hes sad Maw-
that a very oatmeal:sat style of living iedulged in at emcee be paid for el %%ea of sedum kit 111,
Willow Bank, bat Willow Bank belcsged to Mr. Webster, fornithee of occasional duties, the mass being - and for anything that appears to the sostrary, In beak- allowed hyjesticas fa petty esesies. Porno. aleeilleale irg =gap
rapt was rather a guest there than anything else. vseemsies La that ease of deaths *e., of paid con-
Bat whatever the fact may be, I have zothlag stables. Appointments of "
to do with out
but what appears in On. sossesaiss are authoring, saki Igek.up sk"ore Pi"
Awe before me, and all that I. in evidence vided, justices are to appals, at,meMbl. take ess
Weir Mime me en the WON of realms an ' same. The est does am apply :o as Ms lot ssit s aslasssi Y lbs Wow ;MN dhow% ass tae bask- she is•lngsitlea

INSOLVENT DEBTORS' COURT.—Yasuansy.

Bums Ks- Comtraiowla Puu.urs.
IN TYR Marrs& or BCSAN Jl3lllll/011.
This imolyent who had bun known as "Bnau Wawa,"
did not appear whew called. Mr. Bargood wu instructed to
oppose, and the case was struck out of the paper without pro-
tection Babsequestly the Insolvent attended, and the tom-
MIMMIer was on the point of dismissing her petition, when
a ruses was given, on the ground of illness, for her non•
IP,"mance when called.
The court adjourned the cue for a week, and granted
in the interval.
ivZiasoaos Suurri.nworra Pusaroa Clanfunto.—
A PhoPOSAL roc CILIDITOKIL
This Use&vent, whose ease was reported on a former occa-
' Ike, applied for a day to be mood for the Anal order. He
was arigiaally opposed by Mews. Bailey, Mendrapern, of
St. Paul's Churchyard, and Me sus was adjourned without
prelim:Me. He now mad, a proposal to sot needs 101. • year
for his creditors.
Mr. Csantissioaer Phillips thought the proposal wee not
seMelent.
TM fasolvent said he would Massie it to 121. a year.
SL Honour accepted the offer foe the creditors, and gays
pretectioa.