The British Press; or, Morning Literary Advertiser.
London, England, 1825-11-29 00:00:00

THE BRITISH

.51EET13:0 OF THE
CREDITORS of MESSRS. CHAJIBERS and SON.
Yesterday, in pursuance of public requisition, *very considereble
number of the creditors to the late banking-house of 31:ssrs.
Chambers and Son. New Bond-street, assembled In the Concert-
room of the King :a Theatre, Haymarket,
Joint BICE WILL, Esq. was called to the Chair.
The max, in opening the business of the meeting, ex-
pressed his gratifies:ion at seein; en large an attendance; because,
in a matter of such magnitude as this, involving as it did the in-
terests of so many persona, it was peculiarly desirable that any
steps which might be deemed advisable to take, should have the
sanction of at least a great bulk of, if not all, the efeI:HOPII. The
principal object for which this meeting bad been convened was to
put the creditors, at least such of them s had executed or acceded
to the Deed of Management and Letter of License, in possession of
the fullest information of the proceedings of the Committee that
had been appointed about twelve mon t ha ago to investigate the affairs
of the estate, minutes of which would now be read ; and it was for
the creditors to consider what further measures ought to be taken.
In conclusion, he trusted that in the event of any difference of opi-
nion, every gentleman would feel the necessity of observing a calm
and moderate course of discussion, as best calculated to further in.
vestigation, and promote the general welfare, not only of the whole
body of creditors, but of each individual respectively.
Alt. GRoorer tone of the Committee) then read the minutes of
several meetings held since their formation in the latter end of
11324, descriptive of the various efforts that hed been made to pro-
ceed under the original Deed of Slanagement and Letter of Li-
cense, and to prevent, if possible, the commission of bankrupt hav-
ing been issued. Mr. O. observed that he had sonic regret in being
compelled to say their efforts had been rendered nugatory by the con-
tinued opposition and disinclination of 31r. ( bombers to act with
them. Almost every proposition made by the Committee for the
benefit of the creditors met with a decided negative from thst gen-
tleman. In place of assisting them, he had invariably thrown
obstacles in the way of investigation, so that the Committee, find-
ing that they could net act with him, were obliged, in compliance
with the duty they owed to the creditors who had appointed them,
to act without hint. Ilia conduct all through was of the moat ex.
traordinaty character.
The CHAIRMAN observed that, in regsrd to the line of conduct
which 3)r. Chambers had thought proper to adopt, he was net at
present prepared to say whether it was right or wrong; however, a
letter had just been put into his hand, which might probably throw
some light on the subject—with the permission of the Meeting he
would beg leave to read It. Aeries of Res4oes4. Won means.")
The Chairman then said, This letter it tatlairsed to me. as
Chairman of this Meeting, and is, 1 perceive, from Mr. Chambers
himself ; it is as follows :

" London. Nov. 28.
" Sir—As I see by the public papers that a meeting of my cre-
ditors has been summoned for this day, I will thank you to state,
that unless iris the wish of the Meeting. I am advised not to at_
tent) ; and as a Commission of Bankrupt has been issued against
me, I shall be best able to discharge my dutits to myself and to
my creditors, under all the sanctions imposed by the kw.
If it be the wish of the creditors that 1 should attend this day,
you would oblige rue by adding, that I am ready to obey their
summons.

" I am, Sir, your very obedient servant.
"A. H. CHAMBERS."
Mr. Lotus said he was glad to see ea full an attendance of cre-
ditors on this occasion, because it would help to lighten the busi-
ness before the Commissioners of Bankrupts. With respect to
calling for the attendance of Mr. Chambers. he should say that
there were other matters which might as well be previously dia.
posed of. The first great object would be, to select a given num.
bet of gentlemen, who would undertake to act as careful assignees,
who would discharge their trust without fear, favour, or affection,
who would keep a single eye to the creditor's interests, and who
would endeavour to make the most of the prepect to leave
a handsome surplus for the family, which he mos ially wished
would be the case. (Several voices--" God grant there may I")
He (Hr. Lord) did not think that a more judicious selection could
be made than by putting in nomination -the names of those gentle.
men as assignees who had alreadyishown so much real, applica-
tion, and intelligence on the Committee. Were the creditors now to
choose others, they would have a great deal of difficulty to contend
with, which those of the Committee would not ; they would have to
wade through a vast mass of complex and intricate matter before
they would be enabled to set, but the gentlemen who tormed the
Committee, trom their experience and general knowledge of the
actual state of the property, would be enabled to launch it
forth at once, and the more expeditiously it was done, the better
for the estate and for the creditors. (Hear, hear.)
Mr. HAMILTON, as one of Mr. Chambers's legal advisers, sglals
that he was reluctant to intrude himself on the notice of the meet-
ing, but as his name had been so frequently introduced in the mi-
nutes of the Committee that had just been read, he would beg
leave to correct some misrepresentations connected with his name.
When he attended the Committee on behalf of Mr. Chambers, he
had no idea that any observations which might inadvertently have
fallen from his lips would have found a place in their books ;
such, however, was the fact, but it was not of that he had to com-
plain, but it was, that those observations had been mistated—they
were put in by part and parcel; if inserted at all, they should have
been put in at full length, and not in the garbled manner they were.
He alluded particularly to the assertion that was put into his mouth
relative to the revocation of the Deed of Management. The pen-
men of the Committee should Temerity that when, on behalf of
Mr. Chambers,
be entreated them to d that prueolinis, and dis-
tfnctly stid he would compel Mr. Clambers 1:0 agree to any-
reaionable arrangement, the Chairman observing at the time that
he (Mr. Hamilton) was undertaking too much, he said " lam
not, Sir, if he does not, I, u his bail, will render him up."
Mr. GROOME thought that the gentleman had used a rather un-
warrantable expression when he talked of " garbled statements;"
to give it the strongest meaning, it amounted to no more than a
" misunderstanding; ' and lie, for One, did certainly understand
Mr. Hamilton to say, " that all his attempts to get Mr. Chambers
to come to an amicable arrangement had completely failed, and
that, under existing circumstances, there was no other alternative
than going to a Commission of Bankrupt."
Mr. HAMILTON—That was not my meaning.
Mr. Gaoowx—l certainly so understood you, and I believe my
eollugues did the same.

MUM. ROBERT STONE and G. S. SMITH, who were present,
.
concurred in Mr. Groome's opinion.
The minutes were then approved of.
Mr. TOOKE would follow up the suggestions of Mr. lard, and
cordially asquiesced in the propriety of the creditors committing
their affairs into the hands of the gentlemen who had acted on the
Committee—they had already proved themselves worthy of the
trust in every respect, and he had no doubt but the concern would
feel the benefit of their services.
The live following gentlemen were then put in nomination as
assignees: Alessrs. Groome, Stone, B. `South, George Spencer
Smith, and Thomas.
. .

OstooME said, that in the appointment, he would feel the
deep responsibility which devolved upon him, to leave no step un-
taken that was likely to lead to s speedy adjustment of all demands
upon the house, and to benefit the creditors in every way upon the
strictest principle of economy.
A creditor wished to know why the sale of the estates did not go
on in the first instance, as advertised
Mr. STONE replied, that Mr. Chambers had done every thing
in his power in oppose it. Ile started three objections, which the
Committee could not then surmount. The first was—That the
Committee had violated their compact with him in refusing to
release his son, Mr. Henry Chambers, which, in point of fact, they
had not the power to do. He required also that a moiety of one-
fourth of the produce of an estate at Enfield be reserved on ac-
count of his brother ; and thirdly, he called upon them to pay his
bailiff a sum of 1,1500/. With these demands they could not
comply ; and Mr. Chambers then sent positive orders to his
bailiff not to let any one view the ground, and of course no
person would purchase. This was the reason why the sales did not
take place.
Mr. MAYHEW, Solicitor to the Committee, said that, in order
to give effect to the nomination of the assignees, it would be nc.
cessary for the creditors to attend the first meeting before the Corn.
missioners, on Wednesday neat, to prove debts ; and although the
Bank ledgers would be there, it would be well if gentlemen having
pass-books in the house would bring them with them ; those who
could not attend should give their Solicitors or avulses power of
attorney, otherwise they would not be eligibles tote. Blank
forms would do, as stamps were no lenges required.
The thanks of the meeting were then moved to the Chairman
for his attention.

...„
Alr. Blots ELL, in returning thanks, observed that, as he was
no longer in the chair, he might now be permitted to offor one or
two remarks on the minutes which had just been read. At the same
time that he differed in opinion with ;them, ho had the most un-
qualified sense of the general integrity of the motive which actuated
their proceedings, and lie trusted that they were men of too much
sense to suppose that lie meant any thing disrespectful in declaring,
that he conscientiously thought they had adopted a wrong course
of proceeding. He greatly regretted the revocation of the Letter of
License, and the doing away with the Deed of Management, be-
cause he felt satisfied, that had they been preserved, auil the estate'
properly managed, the creditors would have been paid twenty shil-
lings in the pound. He would not undertake to say, whether or
not this could have been avoided ; but it did not seem, from the
minutes read to the meeting, that the affairs of the house presented
anything but a gloomy prospect ; at least such was the feeling they
were calculated to convey. Now, considering the actual state of
Messrs. Chambers's affairs at the time the bank stopped payment,
things did not look act very unpromising ; the assets were con-
siderably greater titan the debts, and if a reasonable time had been
affordeti and obstacles had not been unnecessarily thrown in the
11,. %fbarred the door of accommodation, it was fair to suppose
tha 'sjs claim would have been met, and that the House would
hasersemo saved from ruin. Under this impression, no doubt, Mr
Chambers had resisted, as far as he could, the plans that were being
adopted ; and fancying himself more competent to the arrange.
ment of his his own affairs than any other person, he perempto-
rily, perhaps foolishly, refused to set in conjunction with them,
and resisted that which might have been to his advantage to fur.
then. Had any person who had weight with Mr. Chambers, taken
the trouble to reason the point dispassionately, and tell him that it
was essential that he should put his nfrairs under the guidance of
the Ccmmittee, he (Mr. Bicknell) felt confident that he would have
at once consented to do so. But instead of sympathy, or concilia-
tion, he met only with unkindnesa—he had been twice arrested
when going to the Committee—he saw his sort, who had an offer of
an eligible official situation for life, debarred of accepting it, by
the Committee refusing to ratify the terms of the deed, and he saw
himself on theeve of becoming a bankrupt—he saw his familywith.
out support every thing around him changed, cheerless, hopeless.
These were grounds for irritation, end :l' !:c had beets a arm—if he