The Sun.
London, England, 1866-05-31 00:00:00

Association of Trade Protection Societies,

yesterday the annual meeting of the members of
this association took place at the Westminster
Palace Hotel—Mr. Robert Wells, of Hull, in the
chair. Amongst the other members present were
—Mr. H. F. Pankhurst, Manchester ; Mr. Henry
Whitworth, Manchester ; Mr. John Cripps, Liver-
pool ; Mr. A. Hardwick, Liverpool ; Mr. George T.
Bathgate, Edinburgh ; Mr. Wm. Johnson, Leeds ;
.31r. W. 11. Chamberlain, Leicester ; Mr. John D.
Paul, Leicester ; Mr. Edward Gripper, Notting-
ham ; Mr. Joseph Roberts, jun., Leicester ; Mr.
John Parsons, Bristol ; Mr. John Miller, Bristol ;
Mr. Thomas Blakeman, Mr. Henry Evanett, M.
P. A. Taylor, M.P., Mr. J. D. Harris, Mr. Mac-
alister, Glasgow and West of Scotland ; Mr. J. H.
Dixon, Sheffield ; Mr. W. H. Barrow, Mr. J. L.
Longstaff, Lord Amberley, M.P.
(Nottingham),
Mr. Thomas Angell, Mr. V. Fococke, Mr. Lewis
Waterman, Bristol ; Mr. Robert Mellors, Notting-
ham ; Sir F. Crossley, Bart., M.P. (Halifax), Mr.
Leeds), Mr. Graves, M.P. (Liver-
E. Baines,
(Leeds), Lord F. Caven-
dishpoo ,1) Mr. Beecroft,
(North-west Riding), Mr. Norwood, M.P.
Bcc.
The CHAIRMAN said the first business before
them was the consideration of the Bankruptcy Bill.
The committee met on the previous night, and drew
up a short report of the expression of opinion which
they had elicited from the various societies. It
would be entirely impossible for the meeting to go
seriatim through all the clauses of the bill, but there
were certain great principles of a most important
nature to be submitted to their consideration.
Mr. MELLoRs, the secretary, then read the re-
port, which recommended that the bill should re-
ceive the support of the commercial community,
subject to such modifications as were named. The
committee approved of the realisation of the assets
being left in the hands of the creditors, who were
to appoint inspectors and trustees ; but such ap-
pointment should be made,by a majority, in num-
ber and value, of creditors, and not by a majority
in value only, as proposed by the bill. They ap-
nroved of the disqualification of relatives as trustees.
Tiley thought the trustee should be paid either a
sum in gross or commission on the sum realised, to
be fixed by the creditors at the time of the appoint-
ment of the trustee, and not by the inspectors after
the estate had been realised. They regarded the
&Unction between trader and non-trader as unne-
cessary, and desired non-traders to be liable to a
summons similar to trader-debtor summons. No
debtor should be made bankrupt under £lO or £2O.
The present law as to imprisonment for debt, and
the discharge of debtors from prison, should remain
wialtered. As to the adaptability of county courts
the committee were not agreed. No priority of full
payment of trust funds should be permitted, except
in cases under wills and settlements for widows and
children. The discharge of a bankrupt should be
given upon payment of 6s. Bd. in the pound, or the
adoption of the Scottish system, viz., at any time,
by the assent of all the creditors who had proved ;
after six months, a majority in number, or four-
fifths in value ; after 12 months, a majority and
two-thirds in value ; after 8 months, a majority in
numbers and value ; in two years, by the court,
after due notice to the creditors and a hearing, and
that without the certificate of the trustee being
necessary. The criminal sections had not been
amended. The addition of clauses to include a
deceased insolvent's estate the committee considered
desirable.
The various recommendations in the report were
then discussed, and the results were that the meet-
ing approved of the proposition respecting the reali-
sation of assets being left in the hands of creditors,
but rejected the suggestion that the appointment of
inspectors and trustees should be made by a majo-
rity in numbers and value, and not by a majority in
value only, as proposed by the bill. The sugges-
tion that the trustees should be paid either a sum
in gross or by commission was also rejected. The
proposal for the disqualification of relations as trus-
tees was agreed to. It was unanimously agreed that
the distinction between traders and non-traderswas
unnecessary. The clause in the report to the effect
that no debtor should be made a bankrupt under
£lO or £2O was negatived. In regard to the law
as it affected imprisonment it was thought that the
present power of imprisonment for debt in the supe-
rior courts on final prccess should be retained. As
to the adaptability of county courts as a machinery
for bankruptcy administration, the meeting was not
agreed, though several of the delegates were of
opinion that county courts might be so constituted
as to render them fit for the purpose. After a long
discussion, it was agreed—" That no priority of
payment, as proposed by sec. 249 of the bill to be
given to friendly societies, be allowed." As to the
clause relating to the discharge of a bankrupt, it
was agreed that the requisition of payment of a divi-
dend of 6s. Bd. in the pound as a condition prece-
dent to the right of a bankrupt to procure his dis-
charge be expunged, and that in lieu of the mode
of obtaining the discharge of a bankrupt, the pre-
seut Scottish system of assent of creditors be substi-
"tilted. Upon the question as to the imprisonment
for debt a variety of suggestions were made, and at
length a resolution was proposed—" That in the
opinion of this meeting some provision should
be made for the punishment of the several offences
mentioned in division 3, sec. 159, of the act of 1861,

And also for the punishment of fraudulent pre-
ferences." It was felt desirable that an allowance
to the bankrupt should be made as under the old act.
Mr. Miller suggested that half-a-dozen professional
men, two from London and the others from the
country, should meet for the purpose of considering
the " little details" of the bill, especially the forms ;
such gentlemen to be paid by Government. Mr.
Pankhurst thought that this was a most unlawyer-
like suggestion, and one which the Attorney-Gene-
ral would not think worth a moment's consideration.

The meeting then adjourned till this morning.

_
In the evening a deputation, consisting for the
most part of the gentlemen who interested them-
selves in the meeting, w upon the Attorney-
General in the Earl Marshal's
himm, House of Lords,
for the purpose of acquaintin6rwith the result
'The depugtati
of their deliberations.
by the following members of
parliamentonasaugmented
Phillips, Mr. Bazley, Mr. E. j :---Mr.
'lmes, Q.C-, r,..
Lo A
Milton, Mr. Barnes, Sir M. Peto, Mr. Hadfield, the
Hon. Mr. Egerton, Mr. Horsfall, Mr. Turner Mr
Graves, Mr. Graham, Mr. Hibberd, Mr. u. 2 •
Berke-
ley, Sir F. Crossley, Bart., Mr. Harris, &c.
The deputation having been formally introduced
by Mr. Norwood, M.P.,
Mr. WELLS, the chairman of the meeting, read
the above resolutions to tnohe At
thentorne enter into a discus-
y-General,who,
in reply, said he could t
sion upon the several points which were contained
in the resolutions ; but he might inform them that
..these points had not escaped consideration. Some of
them indeed had been very carefully considered.
Mere were two on which he might say that his own
private opinions ;were very much in accordance with
those they had
to the diatinetiexpressed, viz., the one which related
He had no say.eonliDetween trader and non-trader.
He could not ee in favour of that distinction.
better to do what positively whether it would be
to the clause affeetTnyg friendly
wished or not. With respect
iendlY societies there was
ground for consideration
ted to him. It might be tnhowughaht they had submit-
the engagements of those societiest inconsistent with
that they should
take away from them the privileea
which they now
possessed by law. It might, perhaps
as retrospective legislation against t be regarded
tn• Might
compromise be effecbed in this way.) a
That th
privilege should be continued to the e I
present so-
cieties for a limited time, and not be extended
to those which might be formed hereafter. As to
imprisonment for debt, he saw no prospect whatever
of being induced to waive that portion of the bill.
He did not think the objections which had been
urged were sufficiently- solid to remove the reasons
which had induced them to make the proposal. Re-
specting the dividend, that was no doubt a very im-
portant and difficult matter, as to the fixed dividend
which would entitle to discharge. He had no doubt
that they had well weighed their proposition. The
object which they (the framers of this bill) had in
view was, by having such rules, to discourage that
class of trading commonly called "reckless trading,"
and to make it not too easy for the bankrupt to en-

ter into business again. Whether they or the Govern-
ment were right he would not attempt to say. H e
should like to know what the views of the associa-
tion were, supposing
a compromise of this kind were
entertained—to retain the present clause as to the
general sale, and
giving such power as they sug-
gested to the creditors within alimited time, and
i
ges
then to the court to dispense with the dividend, or
if it was thought that the con-
duct s xo f ytehaer sb' period,ankru had been unexceptionable, or
his losses due to unavoidable circumstances. He
should be very glad to hear their opinion upon it.
Mr. WELLS said the association would meet in the
morning, and would then take the matter into con-
sideration. He would beg to ask the right hon. gen-
tleman if there was any particular reason why the
amount should be fixed at 6s. Bd.?
The ATTORNEY-GENERAL said that was one-third
of a pound—that was all. It was possible that some
persons might actually endeavour to increase their
assets with the view to getting that dividend-6s. Bd.
they contemplated bankruptcy ; but he would
be quite ready to make the punishment clause more
stringent.
Mr. WELLS said the difficulty was to ascertain
whether such was the intention or not.
The ATTORNEY-GENERAL--Certainly.
Mr. WELLS further pointed out that, in certain
cases, the 6s. Bd. clause would bear very hard.
After some further conversation, Mr. Norwood,
M.P., thanked the right hon. gentleman for his
courtesy, and the deputation withdrew.