The Express.
London, England, 1861-06-04 00:00:00

THE BANKRUPTCY BILL.

The Bankruptcy Bill has been printed with the
iilterstions introduced by the 'elect committee to whom
the Inman, was referred by the House of Lords. The bill,
wb••n it left the house of Commons, provided fur the
ml-intnt•rot of a chief judge in lieu .4 the present coin-
no...ioners iu London. The object of this provision was to
in. ire uniformity in the decisions and practice of the court,
to provide an economical and satisfactory court of appeal,
and to procure for the administration of the bankruptcy
lae, the name decorum that is observed in other courts of
j.t.tiee. The select committee have struck out thin part of
the hill, and leave the law to be administered by the
voiding conowasiouen. The bill provided that the ere.
dines dinubl decide whetter a bankrupt's estate should be
reamed by agents anoint by themselves or the *Wel
assignee. The select committee refuse to give the creditors
sea. option,. and leave the estate lobe realised oat present.
The fall provided that the creditors should be periodically
informed of the course of liquidation of a bankrupt's estate
by rseeirleg .. statement from the °facial soignee. The
select committee refuse to assent to such information being,
conveyed to them. The bill provided that any debtor
might petition the 13ankreptcy Court for an adjudication
aping himself. The select committee will allow any non.
trailer to do en, but only those trader.debton whose estates
will reelioe no/. The bill provided in the case of trust deeds
for ;:iving validity to such deeds when the holden of bills
.4 urban* could not be diacovered. The select committee
refuse to permit point* arrangements to be effected abloom
all fibs creditors ma be found. These are some of the
chops made in this important measure.

PENINSULAR AND ORIENTAL STEAM NAY!.
curium COMPANY.--(THIS DAY.)

The forty-first half-yearly meeting of the pro-
prietors wee held, at 1 o'clock, at the "dices in loalenhell.
.1.,t; Mr. H. M Minns WILLCOX, M.P., in the chair.
The derareitte (Mr. Howell) read the following report
oldie beard to the shareholders :
" The directors sow beg to submit to you their report for
Ilis I• 4 half year, reloading you that the women end
lassoed otatemente ate only ',neighs forwent at the ma.
lad meetim„, in December. A referesce to the Ink
ark he pre6sol se usual, will show that so ma.
enel charge nn
taken place in the
al the gat donne the last six months • its
editr that the Moolten hen heW placed en
in e Int, sad that the Ripon is emir mar. 1
The Means km not yet made a see vamp ; the
enders coseamently abstain from exprseeng ea opinion •
a tothe enema of swore that may ultimately Mend
nor esdrisvour to effect, by new appliasesa, ma iimpsrlant
wag is the consumption of fuel in thb ship as 0011111111,1111
with ether mann of bar clam. The trip from tne Thum
le Southampton was quits intisfectory ; sad as miry ar•
lame met seeding to allow* the comfort of passengers has
lei aatiodenAl is this vesarkit may be coaddientlympeeled
Meta. will ...pun a high character in the •
het The kipon, it will he remembered, was the lea el the
her dam of Ira weeds built by the ensepany *Mess
nen age, wheel the emcee smeette of wesd and
ins as moderble for ship.lM . was • maellen test W,
le he solved by expeneoce. e direct's", alter mesh
mules ernaideretion, decided in favour of iron, sad
In kips has proved so sound a ship that it has
lea decided to lengthen her by the how, to fit
ter with mew boilers, and to apply to her machinery
the moat improvements to secure economy of fuel.
Sum the dale of the last report, the Mora, Asoff,
awl ilmeada. then under charter to Me ' meat
ie Ilia. have ham paid off ; but the i remains
IMe arm* .4 the Pawn the Preach
Waist km alio chartered Termer sad Dread&
It was stated le lb. net mai report that the directory
lial 'abseiled to the government • primers' for the OM.
unities Into ose centred or the postal services between
Ibis rosary and India and China, leaving it terminable, a
odes mesas' notice from either party. This p,oposal was
*Olaf te, but alternative plane were submittal, and es
i eineessesa err concluded, still terminable on 12 months'
knee, mane which the company are to receive • moderate
Me of easily for certain branches of the service, which,
at a period when the cost of fuel was comparatively
' low, they had performed without aid from the government.
The men arsenal of Mem breaches was a line between
' dm* sal Chia, which being made to alternate with
Se mestbly or 000 tract lice, furnished • complete fort-
wally cuniammostion benne° England, the istertnediate
Zon the trunk line, sad Penang, Sagapore, Hang
. mhaeglisi, ice.; and as the *overflows, emir .l
be powder'. .4 the contrarian this line, tamely, con.
"'wee .4 the mails free, end of official at
whited mat the directory constantly k a for
see weirsamstioo before the authorities. ' claim for
la enviers km Deem adjusted by the pymrt of 12.000!.
!___ *.pect el lie twelve round voyage' mad is the year
mi. envious to the conclusion 4Me above •• t.,
the Lenders had given notice to the government that coin-
t'Y ...I'M not have occasion to despatch the vessels on this
''.4 hlSllatly as theretofore, but only as their commer•
e'mac might require. It was eventually agreed. bow •
. that the line should be carried oo for sin months me.
t' , Irmo the let Janney bet, the company receiving
-"". for each resod voyage, or et the rate of 21,Oliff. per
r,
_,,m. subject I. divantimmece on two months' notice.
wg Maio, hes ham nerved is the eteopeny, mot the
elw,_ Pan reeneties el the Chas mail vendee frees •
"Widely le • monthly we, hee hese elicially announced
if the Yeetmester-Oesintsl The 'lnman had thought it
Wade that the government would forego the advantage
0 scemeandiation .pre at so mall a cost, for it would
M. bum the eeply to • quedius in the
Gtr, of Comma. that the line has yielded
"ff. • ,ear in peonage, (or half the enteidy
lei; en that, without mlimmliag collateral :17111'.
cars. er the probable Nasae of correspondence owing
in plan with Chins, its oestinuance would oat
nest
ff de country 12,000 C per annum, or 500 r. for each
eekorard owl SUOI. for each outward mail The
'Plays referral, in the last anneal report, to the de.
Omit sesdition of the trade with India aad Chia ;
Ili it h safe rtesate that at the very time they have sue
1144 in placing vessels of large carrying capacity on
r• China line, the state of the market in Europe should
lee hd to a very enneidersble diminution in the export of
'", him that oouatrv, the steamers for the last three or
• lamas having
E. left Hong Kong with half eargOes only.
• Mess' op/makes of the half-par have, however,
"ex meintory. while the public services entrusted to the
~_ Hiy eve Leen performed with remarkable ponetuelity,
ll we directors feel enabled to recommend that the usual
'Nal .4 31 per cent. he now declared for the calf-yeor
314 !Loch last, and that payment of the same be
11▪
,time of income tax.moving on sod due the 24th instant."
*
.II tom's, is the adoption of the re,
`el 'het moiler the deal of settlement that meeting war
:::,•1 Solelyla ho the dear:slim of • dividend. He most,
.TYr• comeretute the meeting on the feet that sight
.' eilis.4 the financial yew/ had elapsed without a single
(ray i 4
occurred to their numerous deet. (Cheers.)
i'_' o 4 fuel, obeli was a nib*" of complaint at he
,7_, t,,..:. was mew diminishing, and would so doubt
6,1,.!,° to do so; bat the entire beset* wield not
..• it IP the current year. The principle of overheat-
• 7wels had bees applied meet satisfactorily ;
." r
,' e emeral ones moultes a ming of 10 or 30 per cent.
. her ti
The Modems d i
had, he mil h
weanetcff,Mbia am'
roml the rood sanguine expectances ire
'lti with "gaol In her.
ln '
am e. "Al '
ois deputy clairmau of the booed, seconded
I
bt. heirrie called Weans to • meeting at Canvas,