Northern Times.
Liverpool, Merseyside, England, 1857-11-13 00:00:00

LONDON COURT OF BANK RUFTC Y.—Nov. 11

In re STERs, WALICIL AND SYERS.—The bankrupts
were merchants of London and Liverpool. Their accounts
and all the principal facts in the case have already ap-
peared in Tin Tutu. It is sufficient here to state that
the capital was inconsiderable (a vouched surplus on the
Ist January, 1854, of about £4,000), and that after trad-
ing to the amount of a million sterling the debts proved
are £135,000, the amount proveable about £lOO,OOO, and
that the estate is expected to pay 2s. in the pound.
This was the certificate meeting. Mr. Linklater ap-
peared for the assignees ; Mr. Lawrence for Mr. Warner,
a creditor; Mr. Pook for a creditor ; Mr. Bagley and Mr.
Rcxburgh for the bankrupts.
Mr. Linklater, for the assignees, said that up to about
the mi idle of 1855 the bankrupts had carried on a moderate
and legitimate trade. About that time, influenced by the
extravagant expectations of peace or war, they had em-
barked in transactions far beyond their means. The
transactions ware, in fact, a mere speculation, certain ruin
staring them in the face if they were unsuccessful, and the
prospect before them of great wealth and being applauded
as deserving gentlemen, if they prospered. They obtained
advances upon goods—a practice which, although a
very general one, was thought by some to be a practice
more honoured in the breach than in the obqerrance
liavirg regard to the long time the bankrupts had been
before the court (since May, 1856), and the great vexation
and annoyance they had undergone, the assignees were
willing that the bankrupts should now receive second class
certificates,

Mr. Lawrence characterised the trading as most reckless
and improvident. With a capital of £4,000 the transac-
tions had been £1,000,000. The losses, giving the bank-
rupts credit for all their profits, had been from £150,000 to
£160,000, and the personal expenditure of one of the Syers
had been at the rate of £2,000 a year. There were some
persons who thought that a man was at liberty to regulate
his expenditure by the extent of his transactions. Thera
were others, however, who thought that they ought to bear
some proportion to their profits. The systematic course o f
obtaining advances upon goods before they had been paid
for was a most mischievous and ruinous practice, however
general. It would be a slander upon British merchants
to put these bankrupts, however extensive their transac-
tions, in that class. To call things by their right names,
the bankrupts had pledged and pawned goods to an
enormous amount. What would be said of a draper
who, having gone to a wholesale house and purchased a
parcel of goods, went immediately and pledged the
goods under the term of obtaining advances. However
fine a term miglat be used, it was Ball pawning. Accom-
modation bills were now being distinguished in the city
by the more pleasing term of "finance bills," but all this
refinement of terms did not alter the character of transac-
tions. The whole amount of the bankrupts capital had
been absorbed in the drawings of Morris Syers (L'4,223),
while the drawings of Daniel Syers had been £1,900
The bankrupts stopped on the 4th of April. On the Ist
of April Morris Syers drew a check for £225, and on the
3rd of April for £375. On the latter day Daniel Syers
also drew a check for £375. This withdrawal of a sum
of £9OO from the estate was most unjustifiable. He did
not complain of Mr. Linklater being so far satisfied with
the conduct of the bankrupts (who were old clients) as to
assent to their receiving second class certificates, bat the
creditor he represented took a different view of the merits
of the case.

Mr. Pook complained that the bankrupts had purchased
of Mr. Farwig 4-50 worth of tin plates shortly before their
bankruptcy, because the article was one which they could
readily pawn The bankrupts, he alleged, had sold pods
at a loss of 50 per cent.
Mr. Boxlyargh said he should examine the opposing
creditor, and

Mr. Warner, having made his affirmation as a member
of the Society of Friends, said that he had called upon the
bankrupts about 8 o'clock of the evening of the day on
which they had suspended payment. He saw Mr. M. Sy ers,
and told him that he had a quantity of iron in the river
about to be shipped, and a quantity of zinc on the Thames
which h:d been shipped. The zinc was on board, and he
was desirous of ascertaining whether the iron and the zinc
could become his property: The goods had been shipped for
the bankrupts, and he wished to stop them if possible and
have them himself. At the interview he spoke generally
of the stoppage. Mr. Syers appeared to feel his position,
upon which he (Mr. Warner) remarked that if the bank.
repts had acted correctly, ha had no doubt they would be
well supported out of their trouble. Mr. Morris Syers
told him that whatever was his due he would have, and
that he had no intention of making any preference. His
object in going was to try to obtain his goods.
Mr. Roxburgh : Did you not on that occasion, in the
presence of Mr. D. Syers ask Mr. M. Syers whether he had
not something —anytlihog --some bills of lading or some-
thing. for you did not know es hat to do your less would be
so large ?
Mr. Warner : I eannnt say whether it was in the pre-
sence of Mr. Daniel Sy ers, but I am quite sure I said
everything I possibly could to get possession of those two
shipments. The iron had not been shipped, and I thought
that the zinc might not be shipped—that the bill of lading
might not have been hypothecated or pawned. I cannot
answer the question in any other way.
Mr. Roxburgh : Did not you ask the bankrupt to give
you a bill of lading or something of that sort ?
Mr. Warner : I cannot say more than I have.
Mr. Roxburgh : Did not Mr. Morris Syers remark that
he would not give a preference, and was not that remark
applied to your request to make a preference?
Mr. Warner : If the iron had not been shipped and the
zinc had not left the stream, and the bill of lading was
impledged, I should, I supposed, be perfec,ly justified in
gettieg back the goods. It was in reference to these goods
that I went and got nothing.

Mr. Roxburgh: And getting nothing you want away ?
Mr. Warner: No doubt

Re-examined: I am a creditor for upwards of 6,000 G
Mr. M Syerm was br.,inc, examined, when

The Commissioner remarked that, Mr. Lawrence was not
present, and that in his absence he should order an
adjournment.
Mr R-ixburgh protested against all other parties being
subjected to the incmvenienee and casts of an adjourn-
ment on such a ground. The case could be concluded
that day. s s

The Counnissionor.—Do you think it fair to go on in
the absence of your opponent ?
Mr: hould not think of leaving any court
during the progress of any case, in which I was engaged.
(AnplAnqe and clapping of handq.)
The Commissioner ordered an adjournment to a future
day, at 10 o'clock, and sh)rtly after this arrangement Mr.
Lawrence returned, and apologised for his absence.

LONDON INSOLVENT DEBTORS' COURT.— Nov. 11

In re ELIZABETH MAFIA HAIGH.—This inTolven% a
young lady, better known to the musical world ag Miss
Dyor, petitioned under the Protection Act.
Mr. Dowse supported:

Mr. Sargood appeared on behalf of Mr. Kingsbury to
oppose, and stated that his client had brought an action
against the insolvent for breach of a contract, whereby she
bound herself for three years, in consideration of Mr.
Kingbury completing her musical education and providing
her with board and lodging, to divide whh hire the profits
of any engagement sha might have. During the progress of
the action Miss Dyer married Mr. Henry Haigh, also a well
known vocalist • but the action was continued against her
solely, and finally was decided in the plaintiff's favour, who
was awarded £2O damages—his costs being taxed at £72.
The learned counsel submitted that the insolvent's petition
could not be sustained, as she, being a married woman,
wi•hout separate property, could, if arrested, obtain her
discharge -without the intervention of this court, upon ap-
plication to a judge, and referred to several cases quoted
in tsfacrae's Insolvency Practice, second edition, in support
of that view.

Mr. Dowse contended that the petition was a proper one,
and referred to the case of Louisa Armitage, in Mr.
Macrae's book. as justifying that position.
The learned Commissioner said, he thought he was
bound to entertain the petition. The action had been
commenced, continued, and en•ied in the maiden name of the
defendant. although the plaintiff under the 141st section
of the Common Law Procedure Act of 1852, might have
joined the husband in the action or judgment. That being
so, it was not because in the event of being arrested the
insolvent could be di charged by some other court, there-
fore she could not petition this court.
The 4'h of December was named for the final order,
any question upon the merits being reserved for that
occasion.

At LEWIS & OMPA NY'S, Rarelagh-street,
BOYS aro CLOTHED from the Ages of Six Twenty Years.

A sad accident is related in the Madrid papery. The
notable inhabitants of Olaveaga assembled in the evening
of the Ist, according to their custom, in a sort of club-house,
to play at billiards, and read the newspaper. A!1 at once a
frightful explosion took place, and the whale house and a'l
the people in it were blown up. Twelve persons were
injured, or burned more or less severely, and four were
killed. It turned out that a quantity of gunpowder had
been left in a room, and that one of the visitors had thrown
oa it the remains of a lighted cigar.

BOYS' CLOTHING }UDR WITH GREAT TASTE, At LEWI4 and
COMPANY'S, Eaaelagh-street,