The Northern Daily Times.
Liverpool, Merseyside, England, 1857-05-08 00:00:00

requiring an early and even prior information of
any such loss. It therefore 'appears to me that the
bankrupt,' in entering into this speculation in- tallow, and
also that in -cotton. (which admits of seprofit-being made
upon it, is on principle open, to the same objection) was
certainly guilty, of e gross breach of, aithe and, connected
with his misrepresented* respecting the nature of this
transaction its tallow td Mr: Arkle and' Me Banner,
forms a clear charge of gross . Misconduct; as a trader ;
and such miscenduct stiepeass to me, under the circurn-,
stances of this case, to be one that calls fer the severe
censure of this court, as -an - abuse -of great conflience
that was placed inethe bankrupt by the bank, in making
such large advances, and tending to shake confidence.
in commercial men, which :nee' be regarded as a public
injury. is true that the . bankrupt gained no ads
vantage by obtaining adtances up )a new orders after.
such speculations were entered into, nor by- reason
of the misrep-e3entatious • lee rn-ole respecting the n :hire
of the trans icti ns in talow ; at least s far as appsars in
evidence. And seems that the baakrupt used great
endeavours, after the 23 d Fesruary, 1856, to reduce the
balance then due to the hank, an t which he did, to the
ex'ent of about one half the am unt ; tied, so fa., these
11
slight pania-inn to the 1111 V be considered to alerd same
hankitipts conduct. the breach of faith and misree.;
presentitiOe s ill remains itrxeusable. With regard to
the charge as to the false entries in the b ink,.upt's beaks
in respect to this transactions in t Maw, in the sale book
this transaction is entered as a s :le on account of S. and
tn anire, as it is adinittel, the firm of Syheodt and
Nevies, which: the bankrupt states his clerk
out there in the usetal wty of business, hav:iag had fl
special directions from him about it, and the
entries in the pairchaseLbook of the tallow purchased, in
order to complete' this transaction, are also made in the
same way , • and the entries, in the ledger, as. to :the sale
of the tallow, were in like manner made as on the ac-
count of Messrs. 13yhoodt and Nevins. Bat the bank-
rupt states, that ' where a ceinmis.ion-agent, as in this
case, shares the 'profit 'or' loss with his principal, it is
usual to make the entry by affixing the names or initials
of the principals in a separate column, and the book-
keeper attends afterwards to the distribution of the
result of the transaction, and that it -is not
usual in the contract-leiok to make anes' 'refterence to
the interest taken by the' ;agent himself, isniV:that 'he
had no -reason whatever for making the eiltry as is was,
except its beingin the usual course. NoW, the counsel
on behalf of the bankrupt contended that these
entries could not, therefore, be false, hewever unsatis •
factory they might be, and challenged the opposing cre-
ditor to bring evidence to disprove that such was the
custom in such entries of such transactions ; but no such
evidence was preduced. If such is the .custom, it had
better, -I should think, fol. the honoer of commission
agents, be immediately changed, for I cannot understand
how any entry which serves to mislead, andln a very
material point. -can be cOnsidered justifiable. . But, sup-
ported as such' an unjustifiable custom is by the bank-
rupt's statements only, f confess I feel loth to give credit
to its existences And,. .besides admitting such a custom
to prevail, yet, -considering: that the bankrupt was under
a positive obligation not to enter into any speculation, it
was, I think, an additional duty iinp sed upon him, not-
withstanding any custom to the contrary, to take care
that the entries in his books would not tend to mislead
the bank (es it itetual:y did) as to the tree nature of' the
transaction. It is to be observed that the .entries in the
ledger were not made until the 10:h of Novemboi, after
the period when Mr, Banner ha examined the books ;
and it has been aaouned that this was afalse entry as to
date, but-the bankrupt states no transaction had occurred
since the sale to require any entry until the 10th of
November. The en:ries; howevere in the sale and pur-
chase boo!, were false, and quite sefficient to mis-
lead: I'cannot, therefore, under all these circumstances,
avoid corning to the' coneusion that these entries
must be considered as wil.ully false, anti to have been
made with the intent to conceal the true state of his
affairs, and consequently within the 2nd and 9:h divi-
dons of the 256:h section of the Bankrupt Act. It. has
been remarked that :thy bankrupt has been very candid
and straightforward in his answers on his examination,
which must be admitted ; and I understand from the
official aseigneethet.hie books its all respects, except es to
these entries, have' been
_very melt kept, and - that he has
been generally attentive and active in the elucidation of
his affairs, and the collections of his estate—all which may
be viewed in some slight degree as an extenuation of his
misconduct. But, weon the whole circumstances of this
case, I feel the justice of the case requires me to name a
somewhat long period for the suspension of the certificate,
and which I accordingly direct to be suspended for twelve
calendar months; and as I consider part of the objec-
tions fall within the 2nd and 9th divisions of the '2s6th
re iise talAVriggaldt chht Only pOiNniattityftileutsuts°
pension. With regard to the class,considering that the bank-
rupt's early losses and had debts were unavoidable, I think
the certificate may be granted to him as of the second class.
Mr. Bardsley called the Commissioner's attention to the
fact that the bankrupt had tendered to the bank security
for payment of their debt, but they declined ; and that he
then asked for time, pledging himself to pay the account
as he realised it, bat that they said they would rather have
bankruptcy than that, Mr. Evans reminded the Com-
missioner that the bankrupt himself threatened bankruptcy
before proceedings by letter before the court, and he was
made bankrupt on his own petition. M-. Bard-ley: Yes,
he was driven to it. Commissioner: Cau you point to
any part of the examinations to support this
view ? Mr. Bardsley said he could not. Ho had not,
unfortunately, been able to be present at the hearings;
but he was certain it was on the depositions. Mr.
Arkle: If this case is to be re-heard, I hJo your
Floeour wilt hear me. Commissioner: lam not aware
it is to be reheard. Mr, Bardsley : I have now to anply to
the court for protection for the bankrupts, pending an
appeal against your Honour's judgment. Commissioner : T
am not at liberty to deny protection in a case of Lona fide
intsntion to appeel. Ms: Bardsley. I assure your H noar
the intention is bona fide. Mr. Evans : I have no power
to interpome in this c ,se. Mr. Bardsley: And I have to
ask your Honour for copies of the depositions. Mr. Evans:
This a very expensive proceedinz, and perhaps your Honour
would order a sum to cover costs, to be paid into court.
Mr. Bardsley : The qeestion for decision in the case
is so brief and simple that the smallest amount
of deposit will be sufficient. The act will allow
your Honour to say .ElO In a recent case Mr.
Perry has said £l5, in this case £lO is enough. Com-
missioner : The act says any sum from £lO to £4O.
Mr. Evans : I shall insist, your Honour, in this case,
that the largest amount be ordered to be deposited, as a case
in which the bankrupt squandered his whole property. It
is too much to say that the whole expense shall fall on Mr.
Arkle, who has already lost, by the bankrupt £7,000 to
£B,OOO. Commissioner : I am, in any Case of this nature, not
to enter on any consideration than how much will satisfs
034.5. Me Evans : We have no other fund to lank to if
the sum ordered shall be less than the costs. There are
no funds with the assignees. Mr. Bardsley : There is
abundance of funds. Mr. Evans : I shall be
glad to see them, and so will the assignees.
Mr. Aspinall observed that in the recent case of Har-
rison, which was a very long case, when an appeal was
made. Mr. Perry fixed the deposit at £l5. Commissioner :
I think I may say the like stern in this case—say £l5
Mr. Bardsley : I have now to apply to your Honour for
an allowance of seven guineas for the bankrupt from the
funds in the hands of the assignees. Mr. Evans : There
are 'no funds. Mr. Bardsley: 0, there are plenty of funds ;
it is only Evau's genniM;ng. Commissioner : If there are
any funds the amount is certainly small, and I ought not to
refuse it.

THE LATE Ducuass or GI,OUCESTETL—The last hours
of the late Duchess of Gloucester were free from pain.
Toe immediate cause of the dissolution was an entire
I decay of vital power ; the proximate cause was, doubtless,
the severe attack of spasms which prostrated the little re-
rnaining strength she had, and though drop-y or water on
the chest supervened, yet it was not that winch proved
fatal in its effects. The Royal Duchess was uuable to
make the least mjk of recegnition to any of the members
of the Royal Vamily. The funeral of the Duchess will
most probably take place on Fr.day next, following the
precedent of the late Duke of Cambridge, who was in-
terred eight days after his decease. Should it, however,
be determined to embalm the body in the same manner as
was done with her sitter, the Princess Augusta, the inter-
ment may be delayed till the following Monday. Her
Royal Highness, besides a large sum of money, was possle-
soil of much valuable property, and was especially rich in
jewels, her diamonds being as flag as any possessed by the
Royal family, the Queen alone excepted. Of laces,
too, of that quality the art of making which, if not extinct,
is certainly not now practised, the late Duchess had
,a
large store, and of very great value; her collection is, per-
haps, not to be surpassed in this country. This accumu-
lation is easily accounted fir. On the death of Queen
Charlotte, all ht.r laces and jewels were publicly sold, and
it was known that the choicest specimens were purchased
by the Princesses, her daughters; and the same system han
been pursued on the death of every femal) member of
George the Tnir i's family, till the most beautiful specimens
of each collection have centred in the p •ssession of the
last survivor—the- Duchess of Glouce.ter Of the nature of
the will her Royal Highness has left, nothing is formally
known ; but it is supped that the bulk of the jewels and
the rarest of the laces will be inherited by the Princesses
of Cambridge, especially by the Princess Mary, who was
her god-child, and a great favourite of her venerable aunt,
with mementos to the other members of the Royal family.
—Court Journal.