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

THE BILL-DISCOUNTING DISCLOSURES.

In re THOMAS Fsutaa, DRAPEEL—The adjourned I ist
examination in this case took place on Manday, in Mr.
Commissioner airrow's Court. The bankrupt was re-
examined by Mr. Shipman. He stated, that since his last
examination he had amended his balance-sheet. In that
amended sheet the amount of secured creditors was in-
creased by the sum of £9Bl 7s 10d. ; the alteration was
for additional discounts and bontteea charged. by Mr. Jos.
Entwisle on the renewal of bills. Ha filed his
amended balartee.sheet a statement of necounta with Nr
r. mils, his, mussy/et net the balance now to to air.
Entwisle was £1;572 184 2d. In this account he
debited Mr. Entwisle with £6l 153 61 as due for goods
still open. Thai, as far as he knew, had never been taken
into account as against the amount charged for renewing
bills, and he was certain it had never been paid him in
cash Tue sum of £767 19e 101., credi ed to Mr. En-
twisle as di;count and renewals, was for discount and
renewals of which he had not kept any particulars,
and he had not been able to obtain a detailed account
from Mr, Entwisle The total amount charged by Mr.
Entwisle for discount and renewals of bills was
£1,174 Os 10.1. He still persisted in stating that he de-
livered te Mr. Entwisle rods to the amount of £756 19. 81d,
in spite of Mr. F.etwisle's statement that it was not for
more than half the amount. Mr. Entwisle, in his exami-
nation, stated that witness had received from him £l,Oll
cash, whereas witness, in his amended balance-sheet,
stated that he had received £728 18e He still persisted
that the latter amount was substantially correct. lie could
not give the court any further information with reference
to his transactions with Entwisle Samuel Hart, the
accotan'unt employed by the creditors, was then examined
He said ha had recently gone through the stock in the
hands of Mr. Entwisle (held by him for Mr. Acton,
auctioneer) which belong to the bankrupt's estate.
This was on the 30th of October. The value of the
stock he so went through was £364 Os 9d at the prices
put to the goods in Mr. Freer's list, but the gocds would
not sell for that amount. He did not find at Mr. Acton's
all the g-o3s named in Mr Frear's list. There was
about half the quantity. He found a few goods, which
were not in the list, which amounts 1 to about £27.
Mr. Heywood then applied on behalf of the bankrupt,
that ho shou'd be allowed to pass. Mr. Shipman, on behalf
of the assignees, called the attention of his Honour to some
of the peculiarities of the case. In the flat balance-
sheet the principal creditors secured were stated to be for
£641 10s. 4d., but in the amen,ded slitet the sum was
£1,622 18s. 2d, or a d fference of L9Bl 7s. 104 This
arose, they were told, from a liability to Joseph Entwisle
for discounting and renewal of bills. Of course, when a
bankrupt debited himself on one side he must credit him
self on the other, and so in this case the other sde was
balanced by an alteration in the trade expenses from
£1;509 13-. 9d. to £2,500 33 7d. Again, thebankrupt
stated that he had only received £720 in cash of Mr.
Entwisle, and it was positively stated by Mr. Entwisle
that the amount was £l,Oll. The bankrupt's accounts
w-re in a chaotic state, a-id nothing could be made of them.
Then, as to the question of goods. the bankrupt stated
that he had handed over to Mr. Entwisle goods to the
amount of £756 ; and on the other hand, it was proved by
the evidence of Mr. Hunt. that the goods in the possession
of Mr. Acton were not worth more than £364. Mr. Hey-
wood contended that if a person was to be allowed to
come before that court and dispute a statement made by
a bankrupt without adducing proofs, no bankrupt would
be safe. Mr. Entwisle had not afforded them the
opportunity which he might have done of chocking over
the account he produced, so that it was impossible to say
whether Mr. Entwisle had spoken the truth or not. The
sums of money advanced to bankrupt were by cheques
upon the banker, and they were made payable in cypher,
or to the account of a number, instead of a name, so that
there were no means of tracing the matter. Mr. Shipman
said he would not press his honour to adjourn the examina-
tion sine die, but would be willing to allow the bankrupt
to pass, reserving, of course, his observations upon the
points referred to until a future day. His Honour said
Mr. Shipman had very properly called his attention to the
facts of the case, and had clearly detailed them to him.
It was clear the accounts were in a very unsatis-
factory state. It appeared clear that Entwisle
had in one instance received 100 per cent per
annum discount, and in another case 125 per cent. ;
one could not, therefore, be surprised that a person
carrying on business in such a reckless manner
as the bankrupt had done should be totally
incapable of rendering anything like a reasonable account
of his transactions. Confusion in accounts in such cases
were sometimes thought necessary for the protection of
persons committing frauds, because it was only when
accounts could be accurately analysed that frauds could
be detected. The solicitor to the assignees had taken great
pains to investigate the matter, in the vain expectation of
finding some money for the creditors. He slid not press
for an adjournment sine die, if he had so pressed he should
have granted the application; but, as no such application
was pressed, he should allow the bankrupt to pass his ex-
amination, but should expect the observations he had heard
upon the case to be placed before him again upon a future
occasion.

WITS' CLOTHI WO MADE WITH GREAT TASTE AT LEWIS and
COMPANY'S, RanelAghsitreet.