The British Press; or, Morning Literary Advertiser.
London, England, 1825-12-08 00:00:00

BANKRUPTCY of Messrs. CHAMBERS and SON.

Yesterday a Meeting was held at the Bankrupts' Court, Basing-
hall-street, before the Commissioners of the estate of Mom.
Chambers and Son, the bankers, to receive the usual proof st
claims. to elect assignees, and to trensact such other business as •
might be deemed necessary.
The Coinmissioners were occulted receiving affidavits of Undls,..
puted debts during several hound of the day ; none of those de
mends basing been disputed, they gave rise to no discussion what-
ever.

The claim of Mr. Frere upon the bankrupts to thramount of
30451. was deferred. as Mr. Frere was not deeded whether to make
the demand upon Mr. Chambere's persons] estate, or upon that of
the bankrupts, conjointly. It having, in sotne degree. accumulated
in a. frirmer partnership of Birch, Chambers, and Hobbs, this bd.%
ginal names of the bank.__

Mr. AI ox TAO u, the Cifiihterf Barrilter, here enteted the mom,
and said hi was instrutted to stste aerie reiidifs which would est
aside this commission ; the first of which was, that the petitioning
crectitor's,debt was net sufficiently is existence to warrant the Wits
ing of a cemmiesion.
Mr.sl.a-tient% an 'afforney, *did Mr: Pellodk bid been instritedd::
to attend,-to combat thtveohjectioes, hot was abeam, be knew tant,;,
avoidably.
Mr. COMMisilitAerboiririiite sad ft*atilt would wait, IV
then want any chabectrf ;
.
to argue the questions
duegkh=eCl. Pre4sed 1114414"
lir.'s'ilitextr. the petitioning ttadilie‘leiti he could very teas.,
dily,proirt theexisteacypf• ,
• Mr. Cotheilssioner flttmwtrit's stddlfilt biker coarse would be
to ekanthis him 's* to that point.- •
Mr. a'aiecket being worn, was asked by Me. .310 W TAM.; if he.
had executed theddfd &license for the framers to the estate.—flea •
in return, asked the Learned Counsel if hedrad any doubt of it.
. afiles4,lo4l.,TisOl3 Sreeated himpitestioo, anti was answered in the
rmadve • Mr. 'Becket ex-pressing i desire, before he repliedlo
anv fberbertaternigaterierk-to see the deed. .
Mr. 3lox Tann asked if the aignatureon the deed was his.
' Mr. a'Becket replied it was; gait begged the eced might be
read. .1• •
M
t ine'n dtlzheT AC4OIIM-IM Stsn/IPlOnerit "d
the Ireldeaessierewthhicehpiatrctoicnutalairniadt"'
your demand. This commission has been too hastily issued. ••
Mr. Hamilton read the deed, which was, a license from that,.
Messrs. chambers, investing in certain trustees therein named se
perfect control over all theft property, With full powets to mangle,
the same for the general benefit of the creditors, until the deed
was properly reveaed, with a proviso that the powers of the COSEI...
mittee or trustees reared to a certain or great extent when the, •
had not the concurrence of the bankrupts in any of their &cur.,
as to the disposed of the estates of other property belonging to
them.
Mr. Monvilou then submitted, that the deed was completely
revoked upon any of the provisos it contained. as the trustees
or committee had for some time ceased to have the concurrence if
the Means. Chambers in any of their acts.
Mr. a'BEcatT denied that shy such power was expressed in the
deed, and begged that the terms of the reteerittion might be read.
Mr. AIONTAInr faid, it ails very clear that the bankrupts' not
having concurred in an, of4theesca of the committee as trustees,
it was a perfect telease to Oa*. consequent revocation of the
deed. •

Mr. Commissioner TREBLEI asked, if it was meant to be said
that the clause of revocation *as a release of the claim of tic
Trustees.

_ .
Mr. Meiwraou contended, that under the words of the dal
there was a direct revocation. The deed ran thus--" Shall give
him, the said Mr. Chambers, a full release, both in law and equity,
and the said trustees ate not to encumber, arrest, prosecute, attach,
detain, put in exectidon. or molest him, in currying into effect the
full terms of the deed." Now they had, by the hasty course whith.
they had puntued,completely revoked the deed or letter of license.
Mr. allaotiET said he could prove the letter of license waa
revolted op the 120 of November, and read the notice of Mr.
Fletcher, Secretary to the Committee, dated the oth ult. directed to
him, saving the letter of license had been revoked, and he was
at full liberty to adopt any measure he thought proper for the
recovery of his demands ; which notice, be said, had been mot
circular to all the creditors.

A long desultory conversation arose precisely to the Berne effect
as already stated, which was ended by the Commissioner deciding
that the objection was invalid.
Mr. MONTAGU said, that his second reason arose out of the
first. If this committee was duly constituted, had they a risht
to revoke the deed when their body did not cqnslst of the original
members ? Ile fourd that some had retired, and others had 1)•••
chosen in their stead.

Mr. a'f3sexaT said there was a clause in the deed allowing the
Committee, in cave of death or retirement, to replace the member.
Mr. MOXTAGU urged his objection to the commission, eon.
tending, at very considerable length, that they had no power, undue
the deed of license, to issue any proem.
This gave rise to another colloquy, which was ended as before,
without any drfinitive decision.
Mr. filloteraott also urged that the provision wet not com •
plied with, Inas:nuch as fourteen druid notice had not been given
between the election of the members of the committee and his ap-
proval by a general meeting; therefore his nomination most as-
suredly could not be legal.
Mr. MaTittw said the minutes of the committee ware always
read and confirmed by the general meeting within eke fourteenth
day.
A very clamorous discussion was here commenced, which con-
tinned for above half an hour, when
One of the COSIRISSIONERS insisted upon the restoration of
order, and pronounced his total disapproval of a line of proceed.
ing which entirely prevented anything like a clear understandicg
of the subject.
Finally, the minutes of the committee were ordered go be read ;
and it appearing they heel been regularly confirmed at each genera
meeting, within the rime required by Act of Parliament, the Cele-
missioners over-ruled the objection, and ordered Mr. Allecket to
be sworn to his debt.
Moore conversation arose as to the choice of assisting, Audi'
was appointed for the 234 instant, and at four o'clock the meeting
broke up.

SPANISH COTTON BuvEßS.—lt is pretty genera/Iy,
known, that the importation of B:•itish manufactured cot-
tons into Spain is prohibited by law ; we understand, how-.
cver, that there are at present in this town some SpaMide
buyers, who are purchasing pretty largely for ready money.
under a Lett.r of liceuse from Ferdinand, for the ictrodiic-
Lion of their purchases into the Polinsula.—MascAeitiO•
Mercury.

The Captain of a vend from Portugal which putihte.
Vigo Bay states, that he sailed fro n Vigo eight days ago,
and that the English adventurers hail been suceessfstL.
severs: silver vases had been exhibited, taken from Ore
vessels in the barbour, and they werein a toleraLle state or
preservation.