The Sun.
London, England, 1856-01-25 00:00:00

RUCKINGHAMSHIRE RAIL W-A-Y
COMPA.NY.
P
NOTICE. IS HEREBY GIVEN, that the next ORDINARY
HALF-YEARLY MEETING of the Proprietors in the Buckingham-
shin Railway Company will be held at the Euston Station, London,
on FRIDAY, the 42d February, 1856, at i I o'clock a.m.
By order of the Board.
HARRY VERNEY, Chairman.
WILLIAM LONG, Secretary.
The Books kept for the Registration of Transfers of Stock will be
Closed on the 12th February,n and will remain so until after the
meetimr.
Offices of the Company, Eustortstation, London,

16th January. 1856.

NEW PHILHARMONIC SOCIETY.

COURT OF BANKRUPTCY.-JAN. 23.

IN RE HENRY WYLDE-THE NEW PHILHARMONIC SOCIETY.

The bankrupt was described as a musicseller, of No. 9,
New Cavendish-street, Portland.place. This was the cer-
tificate meeting. The bankruptc7 was on the petition of
Messrs. Cramer, Beale, and Co., who are creditors for 2741.
At the first meeting Mr. T. F. Beale was appointed trade
assignee, and an allowance was made the bankrupt of 2/.
a week.

M. Pennell, the official assignee, thus reports on the
case :—The petition bears date the 7th Nov., 1855. The
balance-sheet commences on the Ist Jan., 1852, and em-
braces .a period.of tlxrealears and IQ months, ahowin the
following results :
Amount
owing to unsecured creditors. £932 19 10
Liabilities arising from the baikrnpt's con-
nection with the New Philharmonic Society 1,278 0 0
Capital, Ist Jan., 1852 469 4 6
Profits 2,245 3 5
..
Legacy received lOO 0 0

Total debit £5,025 7 9
In discharging himself of this amount, the bankrupt re-
turns :
Book debts, good
Ditto, doubtful
Ditto, bad
Property surrendered
Losses arising from the New Philharmonic
Society 1,583 11 6
Expenses of trade . 772 9 1
Household expenses Bl6 17 11
Liabilities, per contra 1,278 0 0
Differences in balancing 2 13 7

£3B 17 3
286 4 7
98 13 10
108 0 0

£5,025 7 9
Upon investigating these accounts it appears the bankrupt
commences his balance--sheet with a capital of 4691. 4s. 6d.
The account showing that result is corroborated, with the
exception of a sum of 2001. stated to be due by Sir Charles
Fox. I also find Sir Charles Fox is returned as a doubtful
debtor to the estate in the sum of 286/. 4s. 7d. ; but Sir
Charles having obtained a judgment against the bankrupt
in respect of a promissory note for 1,2001., entered in the
liabilities, the assignees are not in a position to make any
demand for such debt. In preparing his balance-sheet the
bankrupt has confined himself to his books and papers,
without having recourse to assumption or estimate, and
the accounts must therefore be considered satisfactory.
The books consist of ledger, cash book, banker's book, and
day books, and appear to have been regularly kept.
The liability to Sir Charles Fox is thus stated by the
bankrupt in his balance-sheet :—" Sir Charles Fox in 1853,
1,2581. This claim is for an acceptance given to Sir Chas.
Fox in renewal of one for 1,2001., with interest, given to
him in 1853, when carrying on the Philharmonic Concerts.
This bill is in the hands of Sir C. Fox, who has sued me
upon it, but I dispute my liability to it. I have, however,
entered it in my balance-sheet, that the question may be
decided by this court."
Sir Charles is also entered in the list of doubtful and bad
debtors in the following form :
" Fox, Sir Charles—

To balance of account.

£B6 4 7

To cash deposited with him in 1846 for
purchase of shares

200 0 0

£286 4 7"

The principal item in the losses is the following :—" By
the Philharmonic Society, from 1852 to 1855,1,5236. 10s.
Gd." _ _

Mr. Chappell appeared for the assignees, and stated that
they did not offer any opposition.
Mr. Bagley supported the bankrupt's applicatien.
Mr. Pennell, in answer to the Commissioner, stated that
the whole of the good debts had been realised, but none of
the bad or doubtful ones.

The Commissioner—How did the profits arise ?
• Mr. Bagley—He was a teacher of music.
Mr. Chappell—And also a composer.
The Commissioner--What was the nature of this trans-
action with Sir Charles Fox ?

Mr. Chappell—lt appears that the bankrupt put his
hand to this bill for 1,200/. on account of the liabilities of
the Philharmonic Society, with the understanding that
Charles Fox was to provide for it.
The Commissioner—What do the assignees say as to the
certificate in this ease ?

Mr. Chappell—ln behalf of the assignees, I am instructed
to say that they have the greatest confidence in the state-
ment whinh the bankrupt has laid before the court ; and
they have no objection whatever to offer to his receiving
his certificate. The creditors' assignee, Mr. Beak, happens
to have peculiar opportunities of judging of the accuracy
Of the bankrupt's statements, because he was himself one
of the managers of the New Philharmonic Society : he was
associated with Sir Charles Fox in the commencement of
the undertaking.
The Commissioner—There will be nothing, I fear, for
the creditors.
Mr. Pennell—A. small dividend.

The Commissioner—Some fraction of a farthing, I sup
poso. What strikes one is the very small amount of debts
duo to the bankrupt.
Mr. Bagley—His receipts chiefly arose from musical
tuition ; but when he became the manager of this New
Philharmonic Society, which was very highly supported,
and was expected to bo advantageous in tho cultivation of
the science of music, he discontinued givinr, lessons.
The Cow missioner-IVhat was the professed object of
that society ?
Mr. Chappell—lt aimed at cultivatiug a taste for a
higher class of music.
Mr. Bagley—And a portion of the proceeds was, in fact,
applied for a truly charitable purpose.
The Commissioner—l don't see what charity there could
be in it. To advance the science of music is an object
which one way understand ; but what charity was there
in it?

........
Mr. Bagley—ln point of fact, a portion of the proceeds
went to the relief of distressed musicians. On that account
persons in the first rank subscribed to the society ; but the
subscriptions fell off very unexpectedly. It so happened, by
an accident to which public entertainments aro peculiarly
liable, that one or two of the evenings appointed for the
concerts of the society were extremely unfavourable ; and
the result was a great falling off in the subscriptions after-
wards. However, this circumstance would not have
brought Dr. Wylde to bankruptcy.
The Commissioner—Did you say Dr. Wylde?
Mr. Bagley— Yes. He is a doctor of music. He has taken
his degree, and he is a person who has done a great deal
to amuse, enlighten, and improve the public, as far as the
science is concerned with which he was connected. The
circumstances I have referred to would not have brought
him here ; but there was an unfortunate disagreement with
a gentleman with whom the bankrupt is connected by re-
lationship—l moan Sir Chas. Fox. I wish not to speak
disrespectfully of that gentleman, but that disagreement
has been; i i cause of Mr. Wylde coming here. Mr. Beale,
who was one of the projectors of the society, retired from
it at an earlier period • but Sir Chas. Fox urged Mr. Wylde
go on with it, andoffered to supply him with money.
After a certain time, for reasons which it is not necessary
to enter into, Sir Charles asked Mr. Wylde to put his
name to a bill, in order to raise money to pay the expenses
of the society. He did so, but he had no idea that be would
ever be called upon to meet that bill. He never had the
slightest idea of being so called upon. Unfortunately,
Sir Charles Fox took a view of the matter which in-
duced him to press Mr. Wylde; and as Mr. Wylde was
not in a position to enter into a protracted litigation, a
judgment was obtained against him. An investigation of
the accounts has taken place, and the assignees are satis-
fied that, so far from Mr. Wylde owing his brother-in-law
anything, Sir Charles Fox is really indebted to him.
The Commissioner—l am sorry to observe a large num-
ber of tradespeople amongst the creditors. However, they
are not here to complain.
Mr. Bagley—They are all for very small amounts.
The Commissioner —Not so very small. Here is one for
2871., Cramer and Beale.
Mr. Bagley—That is the trade assignee.
The Commissioner—There are many of a class which I
don't like to see, butchers, bakers, and so on ; there is also
a printer's bill.
Mr. Chappell—That is for printing in connection with
the society.
The Commissioner—l see also a wine merchant, boot-
makers, butchers, bakers, and other tradesmen. Some of
these people may very possibly be brought here by this
man's not paying them ; for it seems he has not a farthing
to give anybody.
Mr. Bagley—Those debts only amount to 4001., excluding
Mr. Beale 's and another.
Mr. Chappell—lt is not at all clear that the printer will
not get his bill from another quarter.
Mr. Bagley—Your Honour will remark that the profits
are large in this case.
The Commissioner—Yes, I observe that; and also that
the expenses, which are not very large, are properly
vouched. But what I cannot understand is, that he should
have only 30/. of debts owing to him.
Mr. Bagley—lt arises from his having ceased to occupy
himself with teaching as soon as he became connected with
this society.
The Commissioner—That is to say, as soon as this Phil-
harmonic Society got into his head ho ceased doing that
which had brought him a good profit, in order to run after
something else. Let him take a certificate of the second
class.
Mr. Bagley- Does not your Honour think that this is a
case in which a first-class certificate might be granted?
The CommisSioner—No. It is not unavoidable loss and
misfortune for a man to rush into a society calling itself
by a hard name, and then to come here with nothing to
pay anybody. There is no imputation at all on his honesty,
therefore he takes an immediate certificate, and it will be
of the second class, which certifies that his failure has
arisen partly, but not wholly, from unavoidable loss and
misfortune.
Mr. Pennell inquired if there were any more debts to
prove. ,
Mr. Chappell—None at all.
This was als ) a dividend meeting. It appears that the
amount in the hands of the official assignee available for
dividend is 654 is. 10d, .