The Sun.
London, England, 1858-08-20 00:00:00

THE NEW BANKRUPTCY ACT.

The 13111 for Amending the Law of Bankruptcy, intro-
duced by the Chancellor just before the close of the session,
proposes very important modifications in the law and prac-
tice of the court, and will, no doubt, furnish abundant mate-
rials for discussion when Parliament meets. Meanwhile an
abstract of its leading provisions may be found useful, con-
sidering that the bill consi4ts of no less than 480 clause., in-
volving an amount of tccluaical detail which few persons
outside the legal profession will have the time or inclination
to examine.

It is proposed that the Court of Ilaelerup!cy shall have a
primary jurisdiction and control in all matters of bank-
ruptcy ; shall hear, determine, and mike orders so far as the
assignees are concerned, " relating to the disposition of the
estate and effects of the bankrupt, or of any estate or effects
taken under the bankruptcy and claimed by the assignees
for the benefit of the credit re, as well as in any mat er of
bankruptcy whatever as between the assignees and any. cre-
to the uris-
(di ii
et ot
ire onroof er
the
cpoeutrstoy,
SzalcW.,easuritijigecatnidn saullbcwaistersthtg J
o an appeal to
the Court of Appeal in Chancery. And whereas, in the
hearing of such appeals, questions of common law fre-
quently arise, it is proposed that " the Court of Appeal
way, if it think fit, sit on appeal under this act, with the
as of Bey judge or judges of any of the superior
Costitsrttasnoefe Common Law at kVestutint,ter." The commis-
clutters arc alsorequircd and empowered to sit in chambers
fer the despatch of such part of !he Ime:ines: of the court a:
can. i:lit La the public advantage, arising
utecussion of questions in open court," be heard
in chambers; the chamber business of each commissioner
to be carried on in conjunction with his court business,
the jurisdiction of the ceternissioner to be the same, in
respect to the business brought before him, as if he were
sitting in open court, any order made in chambers having the
same effect as if made in court. Legal men will recognise in
these proposed changes very important amendments. The
filling up of nay existing vacancy in the office cf commis-
sioner or registrar shall depend entirely upon the opinion of
the Lord Chancellor as to the state of the business of the
court. The next vacancies in the office of connuiseiontr in
London, and of registrar, shall not be filled up, and it shall
be competent for the Chancellor to direct future vacancies
not to be filled up except upon special order; and vacancies
in the Commissionerships, &c., in the Insolvent Debtors'
Celia shall not be filled up until an act of Parliament shall
otherwise provide. The Mill clause enumerates those traders
liable to become bankrupt. The list, after specifying the
ordinary commercial occupations, includes finally "all per-
sons using the trade of merchandise by way of bargaining,
exchange, bartering, commission, consignment, or otherwise,
in gross or by retail, and all persons who, either for them-
selves or as agents or factors for others, seek their living by
buying and selling, or by buying er letting for hire, or by
the workmattship of goods or commodities, shall be deemed
traders liable to become bankrupt; provided that no fanner,
grazier, common labourer, or workman for hire, receivet-
general of taxes, or member of, or subscriber to, any incor-
porated, commercial, or trading company, established by
charter or act of Parliament, shal be deemed, as such, a
trader liable to become bankrupt." If, however any joint-
stock company commit an act of banktuptcy, this hill pro-
poses that a petition of bankruptcy may be filed as against
other bankrupts, subject, amongst other arrangements, to
the proviso that the bankruptcy of the company shall not
be construed to be the bankruptcy of any member of such
company in his ineividual capacity, nor shall his separate
property vest in the assignees of such company under the
bankruptcy.

The bill deals at great length with the choice of assignees,
their rights and duties, with proof of debt, payments, and
liquidation, &c. We furnish this outline of the more im-
portant changes proposed, leaving the discussion of the
question until the bill is once wore before Para tneut.—
,Shipping Gazette.

lIOsI'ITAL FOR CONSurgrTION.— A court of the
governors of this hospital was held yesterday afternoon, at
llrompton—the Rev. Sir Henry Foulis, Bart., in the chair—
for the purpose of receiving the report. Since the annual
meeting, in May last, the finances had improved, the
general balance-sheet for the June quarter showing a
but not yet re-
ceived,favourable difference of £1,303. The bills of the tradesmen
In
iorder to carry
had been all paid to the 300 of June, and the committee.
the cumin ttee had been
had been enabled to ply oft the loan from the treasurer.
ll inr:her th
that 1.1513 d
Since the
had
sg
amounted
to thaeboluetgaxcil73oloe.ft,
e number of
of them greatly
had
mbueme been
)cumber
of admitted
n ew
oobuitigceedrtainrepai
temporarilyrs i n
tthe
reducehospital,
g st
the patients. Notwithstandin—
a ni l t
hadon ,
hdaudrini)geenthdeisqcthlaarrtgeerd,
;10A.
iminadndyiedfi.
that they benefited,
Ind th
out-patients was 969. Mr. Ot.ho
ipnailindoovffingtbeir
adoption of the report, saidthe
debts, not by greater donationbut by turning out patients s and increase of subscriptions,
and lessening the out-patieThey had now but 80nts.
the hospital fer 210. patients,ne and yet there was room in
thought that continued exertions
ought to be made to keep the wards open. Mr. W. B.
Smith secouded the resolution, and the reportwae adopted.
CRYSTAL p ALAcz.—ONL SHILLING DAY.—Yes-
terday the admix: ions on payntent were 5,z373; ditto by
seiltiola tickets, 54; mg Tigitoro:s:B93.