The Express.
London, England, 1861-11-02 00:00:00

THE EXPRESS, SATURDAY EVENING, NOVEMBER 2, 1861.

IL atu Entcllfgence.

COURT OF BANKRUPTCY.—Nov. 1.
(Before Xr. Winslow, Registrar.)

IN RI PARMIDGE AED IIDWLIDII—LABOR FAILURE 111 TIIII
LEGAL PEurIstiION—IXTRAORDINA DIACLOSI'RES.

Thin was the first sitting under the bankruptcy of
Frederick Robert Partridge and Henry Edwards, described
as solicitors and attorneys, who had cartied on busbies. at
King's Lynn, Norfolk, under the style or firm of " Good-
win, Partridge, and C 0.," and, in partnership with John
Charles Williams, at 3, Lancasterplare, Strand, as "Good-
win, Williams, and Co."

Saveral proofs having been received, the following gentle-
men were appointed trade assignees Mr. Herbert
W. Day, bank manager, of Ki4s Lynn ; Mr. W. Ilippin.
gall, gentleman, of Langlaun-, Norfolk; and Mr. siIIDAS
MU' (of the firm of Quitter, Ball, and Co.), accountant, of
Moorgate-street. Messrs. Linklaters and Hackwood are the
solicitors under the berJrruptcy.
Mr. Lioklater said, as this was the first sitting of any im-
portance under the sew act, and as the official assignee
was directed to give to the creditors present information re-
specting the position of the estate, probably Mr. Pennell
would think it more convenient that he should state the
general features of the cage. It appeared that Messrs.
Partridge and Edwards, the subject of those proceedings,
had for very many years carried on their profane(' of soli.
citors ioputnership with a Mr. Goodwin, lately deceased,
and Mr. Williams, who was still alive. They bad practised
both at Ly
'on and in Louden, having melt/naive main
in both places, and being much respected by all their clients
and friends. Goodwin and Partridge had carried on bad-
ness in partnership with Williams from 1838 down to
1146, when Edwards joined them ; Mr. Williams then began
to superintend the London Insions, for which an office was
taken at that time ; and from 1846 down to Deceraber, 1859,
Mr. Williams had the entire management of the London
business. Messrs. Goodwin, Partridge, and Edwards, super.
intended the business at Lynn, and beyond necessary coin- I
munications there was no further interference on their part
with the London business. Williams conducted it ex-
clusively, and there were of course many cheats with
whom the Lynn partners were wholly unacquainted. From
year to year balance-sheeta were rendered by the Londe('
partners, showing the position of the business. The Lynn
partners .upplied all the capital for both establishments,
and believed that they were carrying on an exceedingly pro-
fitable business. Messrs. Goodwin and Partridge were both I
men of considerable fortune, and they relied, as they
might well, upon Mr. Williams. Mr. Goodwin died
in December, 1859, and went to the grave under
the impression that be had left his family very
well provided for out of the results of a long life of industry
and perseverance. At that time, December, 1880, the partner.
ship with Williams was dimolved; and from that time he was
the only partner having anything to do with the London
house, Partridge end Edwards continuing the members at
the Lynn firm, which was still carried on under the name of
Goodwin, Partridge, sad Edwards. Mr. Williams earned
on his own business in Loudest, bat continued to transmit
periodical balanoe-eheeta, showing the progress of the bud-
seas which belonged to the firm, and nothing could be more
satisfactory than those accounts. Those balance-sheen
were so rendered down to September lest, when a communi-
cation was made to the Lynn house, which induced one of
them to come to London, and then it was discovered, greatly
to their horror, that the balance-sheets forwarded to them
by Williams had been didusive—that a number of transac-
tions in which he had been @egged had bees entirely concealed
from them, that separate books had been kept, which con-
tained accurate details of those secret transactions, but of
which they knew nothing. An investigation of these se-
eming chewed s huge amount of liabilities. Messrs. Par-
tridge and Edwards at once placed the matter in the hands
of gentlemen whose position rendered everything that was
dote beyond suspicion—MenreQuilter Ball, Jay, and CA ).
still believing that the large private attune they posse seed
would suffice for the discharge of all liabihties.
in-
quiry it turned out that the amount was much more serious
than they had imagined.; in rand figures the liability in
respect of thane private aid concealed transactions, to which
it was exceedingly doubtful whether they were liable,
was 70,0001. Those claims erase, in some in-
stances, for money deposited with Williams, under
very extraordinary circumstances, wholly unsenctioned
by Messrs. Partridge and Edwards. In receiving
those deposits Williams had given the name of the firm.
snpposing that he thereby pledged the credit of all the
and agreeing to enormous rate of interest.
The result of the inquiry showed that Williams had specu-
lated in all kinds of things—land, mines, and buildings, is
the purchase of estates, and in advancing money, without
in any way communicating any of these circumstances to his
partners. The amount was overwhelming. To prevent
the ruinous litigation which must ensue from an attempt to
enforoe and resist those claims, Messrs. Partridge and
Edwards at once determined on resorting to that tribunal,
where they were sure of receiving cheap, speedy, and effec-
tual justice. Those creditors of Mr. M illiams who believed
that they had any claims on the joint or separate estates of
Partridge and Edwards, or on that of Mr. Good-
win deceased, would of course bring forward their
claims in doe time. Each case would depend
on its own features; and Messrs. Partridge sod Edwards
were not without hope that all their clients who had just
claims would realise the full amount of their debts. From
a report prepared by Mr. Hart, the accountant, it appeared
that Messrs Partridge avid Edwards owed to sundry unse-
cured creditors 5,8961., and to creditor fully secured
4,553/. ; making a total of 10,4501. The securities of the
firm were valued at 4,8121,, and their assets in book debts
were valued at 9,6l2l.—showing 14,4241. against liabilities
of 10,4501. So that so far it was clear that they were per
able to pay every shilling they owed, and have a
considerable surplus, subject to any question that might
arise about Williams's transaction The old firm,
of which Mr. Goodwin was a member, owed to
unsecured creditors 7,124/. ; to creditors holding secu-
rity,2s,947l- ' making 33,0721, From that was to be
deducted 5,800 e., due from the old firm to the new firm, and
about 6,9001. for which the creditors had security on the
separate property either of Mr. Goodwin or Mr. Partridge.
Gonsequenly the debts of the old fine would be reduced to
from 1.1,0001. to 16.0001., and spinet that they bed innate
the amount of 18,9641., inhaling the securities held by the
creditors. The Lynn partners having no knowledge of Wil-
liams's transaction had believed the old firm se well as the
new firm to be abundantly solvent, each having a consider-
able surplus. The private estate of Mr. Partridge, deducting
the large propertgiven as secarity to the joint creditors,
would still result In a surplus of 10,0001., allowing for reali-
sation. Of course Mr. Partridge would have lost his ell if
any of these large claims could be substantiated against him.
Mr. Goodwin had died possessed of a very considerable tor-
ten; the executors now feltthat there was no alternative but
to administer the estate is Chancery, as the creditors in
respect of transactions with Williams would so doubt seek
to maks that property available. Many of these trainee-
tins were most extraordinary and exceptional ; and it was
strange that theparties should have allowed their accounts
with
Williamsilliams to run on to the extent of many thousands
without communicating with the other partners. Of course,
the periodic.' balance-sheets disclosed nothing of the kind ;
end nobody could be more surprised than they were at
leaning the result. To both of them it was absolute ruin ;
the shook was perhaps the greatest to Mr. Partridge, who
had bees universally known and respected in the county of
Norfolk for teeny years. Hitherto they had had no reason
to complain of want of sympathy on the part of their
clients and friends, one and all of whom bad expressed
themselves must kindly. The proofs of debt
now presented were not very large in amount ;
they were, in respect of the legitimate trans-
actions of the firm, about 4,5001., and against the
estate of the four a similar amount. The crediton would
have the satisfaction of knowing that gentlemen had been
appointed assignees who would do everything to protect
their interests (the names are given above). It was not
proposed to incur the expense of appointing a manager of
the estate, Messrs. Partridge and Edwards having both ex-
pressed their readions to act most willingly under the
direction of the assignee*, so as to realise the property in
the cheapest possible way. They did not desire any allow-
ance out of the estate; they proposed to continue their
profession, and hoped that their future exertions would enable
them to support themselves without taking anything front
the pockets of their creditor.. They would have to make
out their own bills of costs--a very onerous matter with all
attorneys in large practice; but their books had
been kept with greet regularity. He was reminded
by Mr. Partridge that the estimate of assets which be
had given was after deducting 18.0001. which was due
from the London house to the Lynn house, and which the
latter supposed they were sure to receive, but which was
DOW not worth as many pence. The only remaining busi-
ness was to appoint the next sitting.
The Registrar—When do they expect to file their balance-
sheet.

Mr. Linklater suggested that it would be better to give
the longest time ; and the 20th of December vu fixed for
the examination meeting, )b. Linklater expreasing a hope
that the same day might be appointed for the discharge.

THZ ALLY:AID DIA= nom CM:WM° AT TIM
ADILPHI Triune—Lest evening Mr. Bt. Clair Bedford
held an inquest at the Marin-crow Hospital upon the body
of Mrs. Anew Humors, aged 61 vein, who died in the
crowd at the door of the Adeiphi theatre nu last Monday
evening. Amelia Foley, slater et the demand, said that
they left their home is Werwieknreet about five o'clock
on the evening in question, walked to the Adelphi Thesis*,
and stood near the gallery eatermos in Bullin.court far
about an hour. When the doer was opened there was •
dreadful crush, and they IMO lifted off their feet and sepa-
rated. Wanes then heard • fearful scream, and tried to
pa out of the erased, but eciald sat do so for some time.
Bice was afterwards told that her sister wee tun dead to
the hospital. Deceased vies% good health and spirit' before
going to the theatre. Willies Puller, who nags in Be].
lin-cnurt„ said that be saw the deceased fell, and two
woman immediately seised held et her, drugged her oat of
the crowd, end laid her en the pavement. She wee
sprinkled with water, bat seemed to be deed. Witness saw
so one tread ea her. She was an invented opal, in
allies opinion. Elbe wee erneensd to death. The crowd on
that niche was rather greater than usual. William Travers,
the resident medial officio., said that on the postmortem
warninticer it appeared that there was enemies disease of
the beast. The lunge IMO also diseased. In his opinion
death was the malt of the disease el the heart, eceelerated
by the excitement et beteg in nob • crowd. Then wen no
nubs of external violence. The jury returned • verchnin
eseerdence with the medical testimony.