The Express.
London, England, 1850-03-06 00:00:00

before 1818, and told it and a chaise in 1819.
lied dons li•tle businets since the end of 184$
not more than 301. or 401. worth, and only paid about 151,
woes in that time. Had tour or five bor.. in 1848; two
of them died. Ha I charged is his accounts 5671. toe horse.
keep k r 15 soontt.r. There was also aa item of 3151. for
law err uses in 1s18; 20 or 30 actions were commenced
egaiast him tor small sums. As soon as he got the moue)
Ise paid them ; he could not do it sooner. Including lease s
mad mortgeges, he had paid 7481. for law expeame in about
16 mouths. Had offered his creditors se. to the pound at
the end of 1848, bat it was not accepted. Had kept very
few hooks beyond a cash-book aid pesabooke with his men.
Mr. Croy/611,th* accountant, had bad to " raise" accounts
since his bankruptcy. His account, steteudieg from May,
1847, to December, 1848, showed dealings to the amount o^
18,4601. Did sot think it necessary to keep minute accounts,
is he supposed he wee doing very well ; sad se he should,
but for the depreciation of his property. Had estimated his
mortgaged property at 12,8001., bat the official assignee said
it would not predate mere than sufficient to meet the
charges an it. He had • espial of 3,2471. in mosey sad
property, when his mgeosot ••n messed is May, 1847. In
1818. he got a lease from the theistheticsi Commissioners
of some bad in the New Noethoftel—the agreement being
that he should cover it with theme, and money was ad-
vanced him foe the purpose. 8e ftionded 'bent 5,8001. on
28 houses. He also built on the Clementhavy estate in the
same way, Mr. Beaumont, of Lissoligedion, leading him
money. Hie property was still suffitath to pay all, it
realised at even a moderate oriel. There heat bees • lees of
3,0001. es that held by the Betheifttlealthethaisdensee.
Mr. George Frail, builder, of Gthethim, woe mad by
Mr. Lawrence to prove that the estimate width the bank.
rapt bad put on his property was correct. The deprecia-
tion was attributable to the general fall in the market; for
the last three years, property had not predated above 75 per
cent. oa the average.
Mr. Stevens urged the fact that the bankrupt had kept
very imperfect books, and had recklessly undertaken large
contracts, which he bad not the means of carrying out.
Then he bed allowed himself to be seed in 14 actions, and
had incurred an enormous amount of expenses. He had
lived at the rate of 3001. • year, without anything to
meet it.
Mr. Lawrence submitted that the bankrupt was justified
in considering himself solvent, judging by the estimate of
Mr. Frau. He had got a favourable low from the Bode-
suittical Contutimiosere. He (Mr. Lawrence) would say
nothing of the legitimacy of the 0311/18 punted by that body
is applying thaws funds to any out building speculations,
which most people supposed were devoted to a different
purpaw. The failure was clearly attributable to the depos-
eialls its leasehold property, which for the lad three years
had been absolutely
His Honour said be could not certify that the bankruptcy
was wholly attributable to unavoidable losses and misfor
tunes. though he might have done so had the bankrupt
come to the court at an earlier period. The creditors had
just cause of complaint that he had gone on so long, after so
many actions were brought against him. Ia such a condi-
tion a man ought always to put himself in communication
with his creditors ; and if they thought it better he should
go oc, he might do so ; otherwise. he ran the risk of
having Ids conduct remarked on in this court. lied Mr.
Gibbons known the state of the bankrupt's affairs he would
never have given him credit. There ware favourable cir-
cumstances he had been many years in trade, had never
been bankrupt before, and had had a considerable capital.
On the other hand, his books had been very badly kept.
The certificate must be suspended for three months ; when
granted to be of the second clam
Mr. Lawraace asked Lc protection, bat the assignee het
consenting, his Honour said he should not grant it.
Mr. Lawrence said it might be desirable for the court to
know a feet which had come to his are, showing the impor-
tance of the classification of certificates by the court. In a
case where his Honour had granted a first-class certificate the
bankrupt had been sole to obtain credit from two wholesale
houses, who stated that but for that circumstance they should
not have given credit. This was important, as showing
the value which the higher classes of catifeate had in the
eyes of the ineresatile world.