The Express.
London, England, 1861-05-01 00:00:00

II ROOF= LID PARIONIKAL GILDA? ECHO

lAILONIL-DIPONTAIR Jr DOW/WM

me Imakripla pan hativir beton, a/ ffealhiat. lara,
vim, amilliaatian far their asalliastas wads beard a abort
law slam

His Honour now delivered judgmer. He eald—The bask-
neas Hooper and Parkinson mak for their. eartillarra They
ewe and have peedesedrion erre to 7,71151. which
gra ialniderd by experts to 7,3111. The Arid amalgam
hoe paid a dividend Of Is. 161. is the pound, and If
sinewestrom are favourable, may be able to pay
porter OIL la the paved more. The rare of theme Is this.
Hooper bed been rgaged in the leather trade in 1852 awl bed
fated, paying about 2e. Bd. in the pseud. In 1852 Parkin.
sea, Menai of this failure, entered Into partnenhip with
him, sad the two berme leather sellers ea their own ao-
emir sad as teems for others. Hooper did net feriae
soy sopitel. Perkier has Mated that he bed 3,0113 L arici
hal whoa be Weed Hooper, bus tt is Agar that he hod
Tolle wee them LOOK Then wee lathed a debt of
1,4001. due to Ida hom one Forbes, but he sever
obtained payment of it. He, however, availed himself gofer
of it as to draw as Tarbes, and obria his reepteace, and
thee he used the bill so draw and se accepted to get the
amount, law discount, from dealers I. regairy. Of mane
when the acceptors • was dr Tarbes was unable to
meet it, and Hooper and Perkier. had to find the
orb to enable Forbes to take it up, and
this they did by getting mosey on other bills,
land rim that mosey to rite up the bill then due, sad
the the retro of getter capital by drawing or are gang
Ward prior them discounted by dales in mosey 001111.
reseed, and ft gradually ripened into the fraudulent eye-
teen which seeing to be becoming more prevalent every day
—the system of trading upon fictitious capital, that*, the
system of drawer hallo upon a supposed buyer of goods,
procuring his scosprocee, sod taking the bills,with UM two
errs nod perhaps more upon them, to a dealer i mosey
for dreamt. It appears by the clearer orders le bar
Mee the practice of these bankrupts be gir • plawdbie
the bills by drawing them for pm
euanprelys in; with ebillrge sad pesos, the offer of which
would eatundly be to 'eery the inipressina that they
wen trade hilL ropresering bona ids salon of goods,
whereas they roe eat fade bilk not hills mire-
serer trade raper bat neesersedatice bills, re.
preeentieg se teernetiens at all. The bankrupts, who
were factors he Where as well as Nihon of their own geode,
when selHag r form hr ether 0111/Tied oe the YIN
lathier oyster for they reperented pigeons ma purehrene
hem the who had ant purebred from theta at all.
Tiny drew bile and got them arepted by
ntzfor the purpose of procuring frolitr6ZZ
she were willing to discount regular trade
hills, the wow thee wanted to army on their system. In
the eserinatine bolero re Perkier. rid, " We of we drew
ea Huffier and Iheran for large eanounta and we took
the bill wp th materity. During 1856-7-8 Holler sad
Hommea respond for our acconiniodstion to the airmail
of thousands. We paid Honor and Beeman about SW.
• year far doing this. It was a contriver* to
carry cm our rode." Parkinson wee also examined rto
the entireties& of himself and partner with • Sr.
of Gibbs and Austin. Gibbs, he rid, had been their clerk,
and bad est up as a seller of glue and hide cuttings. Par.
kingoo says that he believed that Oaths had no capital.
Nevertheless he and his partner got Gibbs and Austin to
B,7rfor their aoccenroodation to the extent of
. Afterwards Parkinson my., " The goods
we mid to Gibbs and Austen was 13,0U01.
from 1888 to the haiskruptcy. We got from theta their
aereptssiess to the surionst of 74,001 r. The Ware, 61,00 W.,
represents the gamier mined in that period from dealers ha
money for the use ef us sad Gibba, and Gibbs and Austin
epos Oihhe,and Gibbs and Austin's acceptances." Such were
the niatertal statements of the bankrupts. The whole exami-
nation,hows ver,showed a system of the most reckless trailing
supported by • long.ortinual system of accommodation
bills, drawn not for round sum., but for some ending in
shillings end pence, to give them the appearance of
basest
% trade bi, and delude dealers in money into
the belief that they were proper bills to be dim.
rousted as being based on trade transactions, when
they wen really pothing better than accommodation
bill., which I have no hesitation in denouring as shameful
sad mischievous frauds. My judgment is that the granting
of the certificates must be enspeuded far or year from the
28th July. 1880, the date of the adjudications, that the bank-
rupts must remain without protection during the time, and
that the certificate when granted must he at gh. lowest
claw. If may creditor, feeling indignant at then ea
should viedioate public justice by thera,rliZ
sot liberate them until they have ou(teead three mouths'
imprisonment. It is painful to be obliged thus
to poloist' eoramercial delinquencies, but it is of the
utmost, importance that traders should be effectually de-
tarred hem engaging in the perairons system of room-