The Sun.
London, England, 1860-04-25 00:00:00

LAW OF PROPERTY BILL.

On the motion for going into committee on this bill, which
came from the Lords,
Mr. HADFIELD complained that by the existing
statutes law courts imposed restrictions upon the invest-
ments of trustees, by which they were required to invest the
trust funds in such annuities as Consols, while there were
other investments equally safe, and which would yield large
annuities. That was a state of things which necessarily
operated most unjustly in regard to those possessed of pro-
perty, and he referred to certain cases to show the extent of
that injurious operation. He thought therefore that a
clause extending- the power of trustees with respect to in-
vestments should be introduced into the bill.
The house then went into committee.

On clause I,
Mr. lIODGKINSON considered that in the case of
maltsters injustice was inflicted. If a person became se-
curity for a person engaged in that business, his security
was immediately registered and made a mortgage on his
property, which was a great hardship. lie had personal
experience of this matter, and he suggested certain altera-
tions in the clause that would remedy the evil of which ho
complained. The present state of the law between a bonds-
man and the Crown was most unsatisfactory.
Mr. WALPOLE objected to the amendment, on the
ground that Crown debtors stood in nn exceptional position.
Sir G. C. LEWIS said this matter concerned the depart-
ment of the Chancellor of the Exchequer, and he was not
competent to give an opinion on it. lle considered the best
course to adopt would be to postpone the consideration of
the clause.
After some remarks from Sir F. KELLY and Sir F.
GOLDSMID,

Mr. ROLT strongly objected to the clause as going to
the extent of sweeping away all registered judgment secu-
rities on laud, and debtors, to prevent an immediate execu-
tion, must effect a mortgage deed. The fact was that a
registered judgment was now an equitable mortgage upon
land, obtainable by a cheap and simple process, which, he
oontonded, was valuable alike to debtor and creditor.
Mr. WHITESIDE said th•it there was no principle of
law which made a registered judgment a lien on property.
He alluded to eases in Ireland, in which the adoption of this
practice proved ruinous to creditors. Under the circum-
stances, he would cordially support the clause.
Mr. LONOFIELD considered that the clause should be
postponed, as the subject to which it referred was too large
and important to be dealt with in the summary manner
proposed.
After some further discussion, the amendment was with-
drawn. _ . .

Mr. HADFIELD moved as an amendment, to insert in
page 1, clause 1, line 12, after " recognisance," " to be en-
tered up after the passing of the present act," the object
of which was to prevent the bill having a retrospective

opsration.
Mr. HENLEY opposed the amendment.
Mr. WALPOLE followed on the same side, and con-

tended that the effect of the amendment would be that
search should be made for judgments for twenty years
before there could be a sale of landed property. He thought
there might be exceptions to the amendment, but not of the
character already urged, and he considered the bill, pro
tanto as a step in the right direction.
Mr. BARROW said that the expense of making searches
for these judgments was so great, and he spoke from per-
sonal experience, that the effect was that they were not
made in the case of small freeholders. This clause, to a
certain extent, afforded security with reference to the pur-
chaser of freehold property, and, therefore, he would give
it his support.
Mr. itOLT considered that the amendment of tho hon.
member for Sheffield should pass with the clause.
Mr. DEASEY opposed the clause, as not affording the
necessary facilities for effecting the sale and transfer of land
it promised, and being calculated to cause great inconvenience
to landed owners against whom judgments were obtained.
Mr. M URRAY thought the clause should be postponed,
until the hon. member who had care of the bill had a con-
ference with the hon. members who had taken a part in the
debate.
After a few words from Mr. M‘MAnoN and Mr. HAD-
FIELD, the amendment was negatived.
Sir G. C. LEWIS considered, in order to give effect
to what was the real object of the bill, namely, facilitating
the sale of land, that the proviso for making searches
, within three calendar months should be omitted.

Mr. E. JAMES supported the bill, as its object was to
place personal and freehold property in the same position as
related to sale of land.
The house divided on the question that the clause stand
part of the bill, and the numbers were—
For the motion
Against it
Majority —7O
The clause was then agreed to.
The clauses to No. 6 were agreed to, with a proviso that
the same were not to extend to Ireland.
Some discussion in reference to the latter clause took
place, but ultimately it was agreed to.
On clause 7 ••••

Mr. M'MAHON objected that its operation would be to
introduce a new law into Ireland in regard to wavers and
covenants in the transfer of land.
Mr. WALPOLE and Mr. LANGFIELD supported the
clause, and some discussion ensued of a technical and un-
interesting character, and the clause was agreed to.
Clauses 8 and 9 were agreed to. •
Mr. HADFIELD moved the omission of clause 10.
Mr. WALPOLE said that the clause provided against
the commission of great frauds that might be committed by
solicitors, which would deprive a purchaser of his rights.
Cases had occurred in which solicitors had charged pur-
chasers with most unnecessary expenses for obtaining ab •
street of deeds of title. Under this clause the solicitor
had every safeguard against prosecution and for the reco-
very of his costs, and the only object was to protect the pur-
chaser.
Mr. HADFIELD felt bound to press the amendment, as
he considered the clause placed the legal profession in a
most unfavourable position.
The clause was agreed to, as well as clause 11.
On clause 12,
Mr. ROLT moved the addition of the following proviso :
That in every case in which trust funds shall, while
the 32d election has been in operation, have been invested
or have remained invested on real securities in
any part of the United Kingdom, or in the Stock
of the Bank of England or Ireland, or in East India stock,
the rights and duties of the trustees of such trust funds,
and of the persons beneficially interested in such trust
funds, shall be construed and take effect as if the said sec-
tion had not been repealed."
Mr. WALPOLE defended the clause.
After some observations by Mr. Roll, Mr. Malins, Mr.
Henley, Mr. B. Osborne, Mr. Deasey, Sir F. Kelly, and
other hon. members, the clause was negatived.
The remaining clauses, with some additions, were agreed
to, and the house resumed.
MASTER AND OPERATIVES BILL.

The bill was read a second time and referred to a soled,
committee. _ _

JEWS ACT AMENDMENT BILL.
This bill passed through committee.
TIIE PAWNBROKERS ACT AMENDMENT BILL.
This bill was read a third time and passed.
he Police and Towns Improvement (Scotland) Act
Amendment Bill was read a second time.

The house thenaijottru---ed at 20 minutes past 5 o'clock.