The Sun.
London, England, 1855-06-26 00:00:00

ASSETS.
Debtors on loans considered good, say £lOO,OOO 0 0
Ditto, overdrawn account' 20,000 0 6
Debtor, bad and doubtful
Not carried out,—
Halford and Co., debtor balance
Bad and doubtful, not carried out
Sundry bad debts
Sundry debts secured,—
By policies of insurance, ... £1,300 0 0
9,000 0 0
6,000 0 0

19,300 0 0
Say va1ue...... 6,000 0 0 6,000 0 0

9,000 0 0

£13,300 0 0
Bills discounted, snpp osed good
Sundry shares and securities at bankers,
5,000 0 0
35,000 0 0

Ray
Debts due to Halford and Co., say..,
£400,028 12 2
180,000 0 0

640,G98 12 2
Liability for which no
valuo received 12,500 0 0

652,593 12 2

' Mr. Lawrance then said it would appear that the gross
amount of debts against the firm was 680,000/. ; that
was quite irrespective of any deficiency which might be
found in the security held by creditors, and irrespective
of any surplus which might come from those securities.
The assets were, as nearly as possible, debtors On loans,
100,0001. ; ditto, amount due on overdrawn account,
20,0001. ; bad and doubtful debts not carried out,
276,446/. ; Halford and Co., 19,009/., which was not an
asset ; and bad debts, 31,400/. These items were rather
as a matter of account, for, of course, as assets much had
depended on realization. With respect to Halford and
Co., be might state that the accounts kept at that house
were principally kept by a class of persons who were in
the habit of dra-ving in anticipation of their credit. They
expected from Halford and Co. about 20,0001. upon over-
drawn accounts, inasmuch as the debts of Halford and
Co. had all to be proved against the estate ; the same
partners constituted both firms ; the 20,000/. would be
in addition to the sums already given. The firm of Hal-
ford and Co., if it stood alone, would be solvent with a
surplus, inasmuch as the debts proved against the estate
were less than the assets by the sum of 20,000/. ; but of
course, from the fact tbatthe same men were in both firms,
it was really one common account. There were bills dis-
counted, and supposed to be good, in the hands of the
official assignee, to the amount of 9,000/. Sundry shares
and securities at the banking-house were estimated at
5,0001. If all the separate debts of Mr. Straban were I
paid in full, there would be a surplus to the joint estate
of 5,0001. The preceding figures were of course liable 1

to alteration on subsequent investigation. The assets
would be, speaking in round numbers, and judging from
present appearances, 150,0001., or 160,0001., without
reference to the large sums advanced on foreign rail-
roads, and which would represent an item of 276,0001.
The Official Assignee.— So I have guessed ; but I can-
not speak positively.
Mr. Cooper said he appeared for several noblemen and
gentlemen who had proved their debts against this est'.te,
and, as the case was one of no ordinary character, he
hoped the Court would direct a full and searching in-
vestigation. Several of the creditors might have larger
claims than those for which they had proved, but they
could not discover the exact amount until the accounts
of the bankrupts had been examined, and the bank-
rupts themselves, to see what securities had been dis-
posed of by them without the knowledge of their
customers. Re had to ask the Count, on behalf of those
creditors, and for the convenience of the estate at
large, to adjourn the choice of assignees to some future
day, and to let the present sitting be devoted to the
reception of proofs, as far as they went, and to the ex-
amination Of necessary) of the bankrupts. This step
VIM the more necessary, as there would be a severe con-
test as to what gentlemen should be appointed assignees,
and that contest ought not to be got rid of. Another
reason for adjourning the meeting was because, on look-
ing through the proceedings, it would be found there
were many affidavits that had been taken at the private
houses of individuals, some of whom bad given proxies
giving certain persons the right to vote on their behalf
to-day. It might turn out right and prudent that that
should have been done, or it might turn out that those
persons who had made affidavits to an itinerant commis-
sioncr were not aware they had the opportunity of prov-
ing and voting in person for the choice of assignees. No
inconvenience could arise to this estate from an adjourn-
ment, as, practically, the duties of the assignees would
be discharged by the official assignee until trade assignees
were appointed, or any perishable goods might be sold
by special rule of the Court. That room and the next
room were crowded with 6reditors, and most likely many
of those who proved would go away without voting.
There weregrave charges against the bankrupts—founded
or unfounded he would not venture to say ; but, at all
events, there were charges which involved the necessity
of a full investigation. Those charges might involve
some of the creditors who had now proved, and until
the examination of the bankrupts it could not be said the
proofs were without objection, and that the creditors
were all entitled to vote for the choice.

Mr. Lowrance did not know whether he need occupy
the court in replying to the vary vague and unsatisfac-
tory statement made by Mr. Cooper, without mention-
ing the names of the creditors to whom that statement
applied.
His Honour—l do not see the least reason for an
adjournment.
Mr. Parry said ho appeared for Mr. Bates, who was
very desirous, as was the other two bankrupts, to dis-
close for the benefit of the estate certain transactions
which had taken place with reference to the securities
deposited with the bankrupts by various creditors who
bad proved their debts to-day. The conduct of the
bankrupts would, no doubt, be fully discussed before
his Honour, who would have to decide upon it ; but, on
the part of Mr. Bate?, he now asked permission to ex-
amine him as to certain transactions, believing that the
disclosures he would make would be beneficial to the
creditors. In reference to what had been said as to
some of the creditors not knowing what had become of
their securities, Mr. Bates had prepared the following
perfect statement of every security, whether Exchequer-
bills, shares, or other kind of security, and this he was
anxious to lay before the court. He was desirous to

Hie Honour—l don't see any reason for it. I refuse
our application. If any creditor applies that the bank-
pt may be examined he may do so, but on the bank-
rupt's own application I refuse it.

Mr. Parry:l-I formally tender this as the declaration
of the bankrupts, and your Honour may accept it or not.
His Honour—Let them put in what they like, and
sign

-This wag clone.

His Honour then said, any creditor, wishing it can
have a copy of this by applying to the official assignee.
Mr. Parry (to Mr. Lawrance)—Do you wish to ask
the bankrupts any question ?
Mr. Lowrance (to Mr. Bates)—Have you signed that
statement
Mr. Bates—l have.

Mr. Lawrance—By whom was it prepared ?
Mr. Parry—By three bankrupts jointly. It was pre-
pared by Mr. Bates, and signed by Sir J. D. Paul and
Mr. Strahan.

Mr. Lawrance (to the other bankrupts)—You have
heard that declaration read over and signed it ?
The Bankrupts —Y( s.

Mr. Lawrance—ls that a full account of all the secu-
rities which have been sold, dealt in, or pledged by you ?
The Bankrupts—Yes.
Mr. Lawrance—Which we understand to be the pro-
perty of your creditors ?
Mr. Bates—Yes.
Mr. Strahan also replied in the affirmative.
Sir J. D. Paul said it was prepared with his know-
ledge, and was a faithful account.
Mr. Lawrance—l presume that account is rot made
out from memory, but that the entries in your books will
substantiate it.
Sir J. D. Paul—Yes;
Mr. Lawrance—Has the official assignea mea.rs
of verifying that account ?
Sir J. Paul—l believe he has.
Mr. Lawrance—Then, it may be ussumed, for the sa-
tisfaction of other creditors who have securities at your
bank, that all the other securities are safe except those
contained in that list.

Mr. Dates—Yes ; quite so.
Debts to the amount of about 224,4657. were proved
during the day.
Messrs. Lowrance, Plews, and •Boyer, are solicitors to
the assignees, and Mr. Turquandi of Old Jewry-cham-
bers, is accountant to the estate. •

Among the creditors are—Lord Palmerston, the Duke
of Devonshire, Earl of Carnarvon, Viscountess Mel-
bourne, Earl of Dysart, Sir A. Ashton, Sir C. Coote,
Sir Charles Young, Lnr Lisburne Wadham College,
Lord Cavendish, Earl Burlington, Mr.i W. Snottiswoode
Queen's printer; the Duke of Rutland, Lord J. R. Man-
ners, the Right Hon. C. C. Manners, Lord Galway,
Countess of Craven, Countess of Verulam, Marquis
of Clanricarde, Sir Lucius Curtis, Lieutenant-General
Thomson, Lord Muncaster ;'Lieutenant-General Buller,
Sir B. Macnamara, Lady Manners, Earl of Bradford,&c.

AQUATICS.

HENLEY-ON-TIIAMES ROYAL REGATTA.

MONDAY.

This meeting commenced today. Various propitious
circumstances conduced to promote the success of the
present regatta, and render it one of the most important
of the season, while the brilliant assemblage of com-
pany attested, beyond all doubt, that its prestige was
undiminished.

The programme presented many features of interest,
amongst which the Univeraity Boat racd was the lead-
ing and great event.
The assembly of general company in the meadows on
the Perks side of the course and on the towing.Y.path on
the Oxon shore, exceeded that• of any previous year.
The rowing commenced at two o'clock, with—
The DIAMOND CHALLENGE SCULLS and PRESENTATION
Cur.
Race.
First Heat.

Mr. John Wright, St. John's College,
,Cambridge 1
Mr. E. G. Ditton, Argonauts' Club, London 0

Second Heat.
Mr. Fairrie, Royal Chester Club

Mr. C. Lewis, Chelsea "
Lost by misadventure, directly after the start, by Mr.
Lewis breaking his scull.
GRAND CHALLENGE Cur, for Eight oared Boats:. _
Cambridge University Boat Club ........ .
4?)
Oxford University Boat Club ...............................
lb
The Cambridge Crew.
11
..........
11 12
1. Mr. P. P. Pearson, St. John's College ...........
2. l‘Tr7E. Graham, First Trinity ......................
11 3
1 3
3. Mr. H. W. Schrieber, Trinity Hall .
4. Mr. H. E. Fairrie, Trinity Hall .................
........... 11 8
5. Mr. H. Williams, St. John's..........
6. Mr. 11. F. Johnson, Third Trinity 11 6
7. Mr. H. B. Pake, Corpus Christi
Mr. H. R. M. Jones (stroke). Third Trinity 10 2
Mr. H. Winkfield (steerer), Trinity Hall 8 6
The Oxford Crew. st lb
1. Mr. W. F. Short, New College
2. Mr. J. E. Codrington, Brasenose
3. Mr. C. H. Everett, Balliol : ............
It. University
4. Mr.
H. Benne,
5. Mr. T. H. Craster, University
6. Mr. P. H. d
Hin,
• Christchurch
7. Mr. W. Pinkney, Exeter ll 2
Mr. A. F. Hook (stroke) Worcester lO 6
Mr. T. H. Marshall (steerer), Exeter
The greatest interest and anxiety was created by this
race. It was the first time the rival crews had met
since Easter in last year, and the Cantabs were most de-
sirous of recovering their lost laurels • the result of the
races since 1849 being in favour of Oxford.
After some minutes occup'ed in getting to their sta-
tions, they started very evenly, Oxford, being on the
Berkshire s.de, and their opponents almost mid-stream.
After about 20 strokes the Oxonians had the nose of
their boat about five feet in advanco ; then the Cantabs I
picked up, cattle level with them, and in another stroke