The British Press; or, Morning Literary Advertiser.
London, England, 1822-12-16 00:00:00

HOWARD AND C188.5".5 BANKRUPTCY.

Saturday having been appointed at the last meet-
ing of the bankrupts' creditors, for their final exa-
mination, with an understanding that no further ad-
journment would be necessary; and Mr. Montague's
declaration on that nerasion that their estate would
pay twenty ahilliugs in the pound, having excited the
sanguine hopes of the creditors, the hall was crowded
long before the hour of meeting with persons evi-
dently anxious to learn the result of a proceeding in
which they were so highly interested.

As soon as the Commissioners, Messrs. Trebeck,
Smith, and Gou!bourne, had taken their seats, the
bankrupts attended, accompanied by their counsel,
Messrs. Montague and Pollock. All the assignees,
Messrs. Shaw, Chappel, and Harni.in. were also
present, with Mr. Wilde attending as their counsel.
The business of the meeting commenced by the
Commissioners receiving some proofs of debts of no
great amount.

Mr. Willock, the auctioneer, presented a claim
for a debt due by Mr. Howard, for professional busi-
ness done for him in the year 1813. The Commis•
sioners inquired of Mr Willock whether he had ever
demanded payment of Mr. Howard before? Mr.
Willock replied, that as they were well acquainted,
and frequently met and conversed together, he sup-
posed he must have mentioned it to him.
Mr. Tataxcx expressed a strong doubt whether
the Commissioners had authority to receive the proof
of a debt after such a lapse of time, without further
proof of its having been demanded.

•
Mr. HARMAN said, he knew what a very indul-
gent creditor Mr. Willock was, and expressed a hope
that there would not ultimately be any legal objection
to receiving his proof.
Mr. MoNranuc said he would undertake to say,
on the part of Mr. Howard, that it the proof of Mr.
Willock's debt could not be received by the Commis
sioners, that, when the commission should be dis-
posed of in the manner he was confident it would
soon be, Mr. Howard would pry Mr. Willock's de-'
mand out of the surplus of his estate.
The further consideration of Mr. Willock's claim
was adjourned, to afford him an opportunity of prov-
ing that a demand had been made.--The proof of
debts being over,
Mr. WILDE addressed the Commissioners. He
said at the last meeting, when that day was ap-1
oiny ted for the final examination of the bankrupts,
the were directed by the Commissioners to deliver
to the assignees a statement of their accounts a fort-
night before. With that order they had complied ;
but the accounts they had delivered in were found
to require so much investigation, that although the
assignees had ever since dt ••oted their whole time to
the subject, they found it would require a much
longer time, and much additional information from
the bankrupts, before they could come to any con-
clusion. On the part of the serignees, therefore,'
who supposed the bankrupts ready to give the neces-
sary information, he had to propose that n further
adjournment of a fortnight or three weeks should
take place, to enable them to investigate the ac-
counts in a manner that would enable them to come
to a conclusion on which they could rely. If the
bankrupts were prepared, as the assignees supposed,
to give all the necessary information, the adjourn•
ment he proposed might be sufficient for the purpose
of a satisfactory examination of the statements they
had made t buk.if it should be found that they were
not so prepared, it would then be for them to say
what additional time would be necessary for them.--
The Learned Gentleman said, if it were required, he
was prepared to state the subjects on which informa-
tion was desired by the assignees ; but as many mat-
ters. which appeared to them at present full of diffi-
culty, might be made clear by the bankrupts, he
thought it better to abstain from such statements;
and should content himself with suggesting that an
adjoernment of three weeks should take place.
Mr. POLLOCK, on the part of the bankrupts, said,
Mr. Wilde's proposal was so perfectly reasonable,
that it was quite impossible to object to it. It was
admitted that the bankrupts had substantially com-
plied with the order of the Commissioners, by deli-
vering to the assignees a statement of all their ac-
counts ; and the result of that statement clearly
shewed that they never could have had any motive
far a longer delay than was absolutely necessary
from their great extent. They were then fully pre-
pared for their final examination ; and a statement,
which he held in his hand, would shew that there woull
be a surplus of seventy thousand pounds coming to
the bankrupts out of their estate, after the payment,
not merely of all the debts, the proof of which was
admitted, but of all the debts, the proof of which
was rejected ; after the payment of Mr. Grimatead'a
disputed claim of 43,0001. and of Mr. Carroll's dis-
puted claim of near 11,0001. The whole claims on
their joint estate, including these two disputed .urns,
amounted to 123.0001. ; in addition to which, the
claims for Mr. Howard's separate debts amounted to
8,0001. Mr. Gibbs bad no separate debts. To meet
these claims, there were good debts due to the joint
estate amounting to 125,0001. ; their joint property
'amounted to 12,5001. Mr. Howard's separate pro-
pert, to 58,0001., and Mr. Gibbs separate props rty
to 6,0001. It, therefore, appeared that their joint
and separate estates amounted to 201,5001. and that
all the claims to which it could in any event be sub-
ject, the disputed claims being taken into the calcu-
lation, amounted to 131,0001. leaving a surplus for
the bankrupts. after the full payment of every de-1
mend, amounting to 77,5001. Under such eircum-1
stances, it must be evident that the bankrupts could
have no other wish than that the fullest and speediest
investigation of their affairs might take place, and
that the large surplus to which they worild be enti-
tled, might be restored to their hands.
Mr. Mciaraoux repeated the statement of the
bankrupts' debts and credits, made by Mr. Pollock,
and said he was aware it often happened that state-
ments made on paper were not confirmed by the re-
sult ; but if ever there was a case in which creditors
might, with confidence, look to such a confirmation,
he felt confident the present was that case. The
bankrupts had been charged with unnecessary delay
in preparing their accounts ; but he had only to ask
on their behalf, that any opinion on the subject might
be suspended till those accounts were fully examined,
when it would be manifest, not only that the bank-
rupts had not been guilty of unnece4sary delay in
laying a full state of their affairs before their credi-
tors, but that they could have no possible motive for
any such delay, as it must be their interest and their
wish that the fullest and speediest investgation of
their affairs should take place. And for this purpose
he would new propose, on the part of the bankropsts,
that the examinations by the assignees, for which the
present adjournment was asked, might take place in
public. No creditor would have any reason to com-
plain, as the expense would be paid out of the sur-
plus of the bankrupts' estate.
Mr. WILDE said, an extraordinary course had
been taken by his learned friends, in making the
statements they had done, when it was known the
'accounts had not been examined, and an adjourn-
meat was admitted to be necessary. To bear the