The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-25 00:00:00

MESSRS. KNIGHT AND LACEY.

A very numerous meeting of the Creditors of this firm was held
yesterday, at the London Codie.hotise, Ludgate-hill, to consider of
the best means of avoiding a commission of bankrupt.
Mr. Alderman KEY was called to the Chair, and shortly cx.
plained the object or the meeting.
3ir. WILL'S then stated that he was authorised by Messrs.
Knight aid Lacey to express their readiness to come to any terms
which the majority of the creditors might think advisable to adopt.
Mr. HANSARD said he believed he on;y echoed the general ex.
preasion of the creditors, in declaring it to be their most anxious
wish to avoid any harsh proceeding against Messrs. Knight and
Lacey, whom he considered as very deserving young men.
MT. WILNS said that a very minute insestigation had taken
pace, and the balance sheet he how produced would exhibit a
i...nicise view of the airs of the house.
DEBITS.
Leter A

f 19.50; 0 0
0.870 0 0
17,3U7 6 6

Liabilities in F
Good -
Doubtful
Bad -

- £6,617 19 3
6,011 5
. 4.753 3 3
Bad debts .

£17,387 8 C
3,000 0 0

Total

CREDIT;:

By Stock of various descriptions
Interest in " Egan's Life in London"
Do. in •• The 111echanies Magazine"
Do. in the" Pulpit" .
Book debts .
.
Bills on hand . .
Sundry other mem . .

£67,1;u3 o

Total

£31,940 2 2
1.000 0 0
1 000 0 0
1,000 0 0
13,409 1 2
2,500 0 0
3,170 1.1

xf,4.1)27 3 4

Mr. Vit.xs then argued that so far as he eould see, it would be
more beneficial to the creditors to have the business of the house
carried on under the management of trusters, than to resort to a
commission "taf bankrupt,: which would otherwise be the case.
The mode of payment propoi.d was in the rat:) of 121. in every
pound, payable by instalments of 2s. every six months. If this
did not meet the approbation of the creditors, it aas now fur them
to adopt whatever other measures they might judge most exp..
diem.
A long discussion here took place, in which various arguments
were adduced for avoiding a commission.
The question for the committing the management of the affairs
was then put to the vote, and being carried affirmatively, the next
thing was to select competent pens rte, and
The following five were elected by a show of hands, viz.—
Mr. fil`Coy, representing the house of Key, Brothers and Co. ;
David S. Morris, Esq.; Thomas Whiteley, Eq., Editor of the
Lancet;" Mr. Robertson, Editor of the " Mechanics' Maga-
zine." and Mr. D. Sidney.
Mr. Munn: thought it necessary to observe, that as there was
a Chancery suit pending between the firm and a person named
Fowliss, the trustees should have full power to arrange that bust•
rites, or they could never act with effect.
A CREDITOR, whose name we could not learn, moved that
whenever tl.e trustees should be enabled to realise any part of the
assets, even to the value of a shilling in the pound, it should
be divided amongst the creditors.
Mr. P et.i.EN said that the suggestion was a very proper one,
but there could be no doubt that the solicitor, in drawing up the
deed of management, would take care not to omit that and se,
veral other protective clauses.
Mr. IlluniE then begged leave to read a rough draught of an
agreement which had been drawn up, and which he should now
'submit to the meeting ter signatures. It declared an acquittal of
Messrs. Knight and Lacey from all debts and demands, by bills or
otherwise, on the express condition that they unreservedly gave up
the management of their affairs to the trustees chosen by the credi-
tors at large.
Mr. WHATELET wished to know if by the terms of that agree-
ment he was to understand that the names of Knight and Lacey
were to be altogether withdrawn.
Mr. WILKS replied, by po means; the names would still re.
main, and every thing would be carried on precisely in the same
way, only subject to the control of the trustees, and tor the benefit
of the creditors, until the composition was made good.
Mr. AVHATELY said it was only on these conditions he had ac-
cepted the office of a trustee. Muchaof the prospective success
depended on the continuanceot the original firm, at least nominally.
Thanks were then voted to the Chairman, and the meeting ad.
journal.

MEETINGS OF CREDITORS.
AT it!? COCA[ OP COI9IISSIONAR9 OP SANCRVPTO,
SPASST TUN I.AV.

Titian MSITtNo3.
Beard, Y. King's Stanley, Gloucester, clothier
•
Bernard, J. Grave.end, pawnbroker
Blake, J. Zeal's-green, Mere, Wilts, draper and carver
Daniell, J. late ut Llme-street, provision-merchant - - 11
E,ady, G. Bromley, Kent, coach-master - . - • 19
elrove.i. D. Norton.street, St. Marylebone, grocer and cheesemonger 12
Groves, J. Gun-street, Spitaltielda, carpenter -
Hemming, W. Thatcham, Berks, money-scrivener . -
Lewes, B. TunbridgeWells, Kent, baker - - -
Moore, It. St. George's-the-Martyr, Southwark - -
Rowley, W. Regent-street, St. James's, tavern-keeper
Ryder, A. Budge-row, warehouseman -
Sayer, C. and Gardner, G. Great Tower-street, wholesale gro‘or 4
Smith, W. Lombard-street, hatter .
Sheaf, C. Harrington 111111, Worcester, miller
Walker, R. Oxford-street, butcher

StCOND MEETtNOS.