The Sun.
London, England, 1839-08-31 00:00:00

VittVATE -MEETING IN CRAM.
BERS' BANKRUPTCY.

A meeting of the creditors of this unfertunate gen-
tleman took place on Thursday, at Messrs. Wright's,
the bankers, Henrietta-street, Covent-garden. It was
a private meeting, and the purpose for which it was
convened did not very clearly transpire. Comparatively
only a small number of creditors were present, but
amongst them were several to a large amount. Mr.
Gillen, one of the assignees, was in the Chair.
The CHAIRMAN took a short review of the proceed-
ings which had been had since the commission issued in
1826, and stated that the assignees had had so many
difficulties to contend with, that they were not able
to offer to the creditors such a result as had been antici-
pated, and was so much to be desired ; and in particu-
lar, that in consequence of the judgments affecting the
real estates of the bankrupt, it had bean impossible to
?
effect a silo. These judgments amounted to upwards
of 28,0004 That the Chettle estate, which consisted
of 12 acres of good land, had been farmed by the as-
signees themselves, in consequence of their inability to
let it, and that they, the assignees, not being farmers, a
very considerable loss had occurred under their manage-
ment. The Chairman further stated, that it being de-
sirabl,:l to dispose of the judgment creditors, the most
V":;ilable property for that purpose at present was her
:Majesty's Theatre, which it was the intention of the as-
signees to sell by private contract, that being in their
view the most eligible mode of sale.
Several of the creditors having suggested that a sale
of the Queen's Theatre by public auction would be
preferable to a sale by private contract,and some perti-
nent questions being askedof the Chairman as to theirhav-
ing preferred M. Laporte as lessee, at a rental of 12,0001.
per annum, over M. De Bennis, who offered 16,0001.
per annum, paying 8,000/. down, and offering valid
security for the remainder ; the Chairman said the as-
signces were willing to afford the creditors every infor-
mation, 1101?..c they were determined to exercise their dis-
cretioa as to what questions they would answer, and
having had a great deal of trouble and responsibility
thrown on their shoulders, if any creditor was dissatis-
fied he might take proceedings against the assignees,
and they would stand the shot.

Mr. HAMILTON (of the firm of Few, Ashmore, and
Hamilton) contended that the assignees, being trustees
for the creditors at large, were bound to answer any
question which might be put to them by any of the
creditors, and again demanded to know why they had
permitted suma sacrifice with regard to the Opera
Rouse and dwelt upon the enormous sums of money
which had been received by the assignees since the is-
suing of the commission, without one shilling having
been paid to the creditors. Mr. Hamilton stated that
a rental of 1,1001. per annum had been offered for
the Chettle estate, and wished to know why it had not
been accepted.
The CHAIRMAN said that a rental of 1,1001. a year
was so far below the real value, that their acceptance
of it would have deteriorated its sale.
Mr. DIXON, the Chancery Counsel, who attended on
behtif of some of the creditors, contended that the as-
signees ought immediately to proceed to a sale of the
real esraLcs for the purpose of winding up the affairs of
the bankruptcy, which was, he said, working such great
injury to the creditors and such cruel injustice to the
bankrupt. It appeared from the Learned Gentleman's
statements, that the judgments alluded to by the Chair-
man were all obtained since the commission ; and that
even if there were any valid judgments affecting the real
estates, that circumstance would not operate to prevent
a sale.

The CHAIRMAN said that some of the judgment cre-
ditors intimated an intention of disputing the validity of
the commission.
Mr. DIXON—Then how long is this state of things
to Icst ? The ground is now changed. Because some
judgment creditor threatens to dispute the validity of
thy, commission, ;s that a reason why the commission
'should last for ever ? According to the Atatement of
the assignees, the creditors are not nearer towards
touching a shilling in the year 1839, than they were in
1826, thirteen years ago ; and if the view taken by the
assignee is to be relied on, we may remain thirteen years
more, and not receive a shilling then.
Mr, IllavHEtv, the Solicitor to the commission, here
stated that might be so, but it was the fault-of the law,
and not of himself or the assignees.
Mr. DlxoN—Large sums of money have been re-
ceived by the assignees since the issuing of.the corn-
mi'sion ; about 30,0001. have been paid to the solicitor
to the commission, and other sums to a large amount
for law and other expenses. The assignees have dealt
with the farms of the bankrnpt at the greatest sacrifice,
when for the Chettle estate alone they might have ob-
tained a rental of 1,1001. from a gentleman present.
Thnt was rejected by the assignees in the year 1831,
on the ground that it would depreciate the estate in
the market. Then, continued the Learned Gentleman,
I should like to know how 751. per annum, which is the
amount of the profit of this estate under the management
of the assignees, is likely to enhance its value ?—(Several
of the creditors here caßed out ..Slaame.") The Learned
Counsel then read a judgment of the Lard Chancellor
in July, 1837, from the short-hand writer's report,
was condemnatory of the conduct of the assig-
nees, with respect to some proceedings which came
before his Lordship, and commented upon the conduct of
the assignees with regard to selecting M. Laporte to
be the lessfte of the Opera-house, in preference to Sig-
nor de Begnis, and concluded by expressing a hope
that the assignees would forthwith realise the assets of
the bankrtpt, and put an end to the enormous ex-
penses which had hitherto attended the proceedings
under this batridruptcy.
The Official Assießees admitted that M. Laporte
owed the estate 12,000/.
Mr. DE YEAR—The solicitor to the commission has
received upwards of 30,0001. for law expenses, when the
creditors have not received one shilling ; and he has the
effrontery to sit there and laugh at it.
Mr. WRIGHT, the banker, stated that he knew of a
party willing to treat for the Opera House ; but since
the meeting had taken so stormy a turn, it was the
last which should be held in his house.
Mr. MAYHEW defended the conduct of the as-
signees, and complained of some inaccuracies in the
statement made by the Learned Counsel, Mr. Dixon,
which he attributed to the instructions he had received.
A resolution was then put and carried, that a public
meeting of th:: creditors be called to take into con-
siCeration the aff,iir. of the bankruptcy, for the 27th of
next mouth, to be held at the Opera House.

COMMERCE OF THE UNITED
STATES.

(From the Boston Daily Adv.rtiser.)
Comparative statement of the ,act of liip3rt of dome
the principal Articles of Merchandise in the two last
Ihears.

IMPORTS.

1838. 1837.
Bullion, gold .4
----. silver
Spe.cie. gold 11,444.189 1 895,265
-....--, silver
Teas, from Chinn
D. 3,495,151 5,932.695
88,139 720 88,140,403
D 37,640,217 8,667,760
D. 9,454,160 13,407,475

Coffee, lb.

60,k;60.005
5,195,965
4,217,551

69,250,031
3,013.460
7,087,270

1,611,398
37,716,374
1%188
84,112
556,670
623,101
120,416,071
6,118,156
15,723 748
1,084 502
956,892
2,573,367
623,512
2,017,355
34,922,812
140,989,217

1837.
188,942

588,500