The Sun.
London, England, 1857-01-28 00:00:00

MERCANTILE LA W CONFERENCE.

A preliminary meeting of delegates from the
manufacturing and commercial towns and districts
of England, assembled by invitation of the Law
Amendment Society, was held yesterday even•
ing at the rooms of that society, to make ar-
rangements for a conference, held this day and
to-morrow, to consider the present state of the
mercantile law, and the alterations which are re-
quired for its improvement. The conference is to
be of a similar character to that which was held in
1852 ; and the importance of its proceedings may
be inferred from the fact that there will be present
deputations from twenty-one towns, representing
town councils, chambers of commerce, trade asso-
ciations, law societies, and other public bodies.
Among the towns thus represented are Bath, Bel-
fast, Birmingham, Bradford, Bristol, Dublin,
Glasgow, Huddersfield, Hull, Kidderminster,
Leeds, Liverpool, Manchester (the Manchester
Chamber of Commerce, and the Manchester Com-
mercial Association), Newcastle, Plymouth, Wol-
verhampton, and Worcester. The subjects
appointed for discussion embrace the law of debtor
and creditor, including bankruptcy, the Judgment
Executions Bill and the United Kingdom Writs
Bill ; tribunals of commerce ; the registration of
partnerships • the 17th section of the Statute of
Frauds ; and the Commercial Code ; it being left
to the conference to make such alterations in the
order of proceedings and the arrangements gene-
rally as it may think desirable.
The introductory meeting of last night was pre-
sided over by Lord Brougham, who has consented
to act as president of the conference - and among
those present were Lord Stanley, M.P., Sir Fitz-
roy Kelly, and a large number of commercial dele-
gates. The attendance, indeed, at the preliminary
sitting, and the tone of the meeting indicated that
the greatest interest is felt by the commercial com-
munity in the deliberations of its chosen represen-
tatives.
The CHAIRMAN having briefly opened the pro-
ceedings, and explained that the object of the
sitting was merely to pave the way for the con-
ference,
Mr. G. W. HASTINGS, one of the secretaries of
conference, read a draft of the report of the com-
mittee, with a view to its being formally submitted
to the conference this morning.
Mr. GILMOUR inquired whether it was designed
to introduce in the conference the subject of the
Scotch system of summary diligence on pecuniary
obligations.
Mr. HASTINGS intimated that that topic was not
included in the programme.
Mr. GILMOUR expressed his regret that such
was the case. Mr. Keating's bill was, he said,
confined to bills of exchange and promissory notes.
It did not deal with money, bonds, and other
similar obligations, as the Scotch law did, and
under its provisions it was necessary in every case
to bring an action.
The CHAIRMAN said as regarded bills of exchange
and promissory notes, the substantial difference
between the Scotch law and the English law was
that the former, unlike the latter, bound the party
who gave his signature, unless he could show fraud
or duress ; in other words, the English law made
the creditor the plaintiff and the Scotch law made
the debtor the defendant.
Mr. T. RANKIN (delegate of the Bristol Chamber
of Commerce) thought the subject well worthy of
being entertained by the conference. Such, he ob-
served, was the operation of the Scotch law, that
there were much fewer dishonoured bills seen in all
Scotland in a week than were seen in Bristol or
Liverpool in a single day.
The CitAnows- said he believed that if there
were a register kept of all bills of exchange and
Promissory notes in the City of London, and if that
register were easily accessible to all who were con-
cerned in such matters, it would afford the greatest
possible security against the discounting of dan-
gerous paper. (Hear, hear.) A clerk might in
that case speedily ascertain" whether or no it would
be safe to discount the paper of the applicant. He
believed there had been no complaint whatever as
to the operation of the Scotch law.
Mr. GILMOUR remarked that it had been in
existence for two centuries and a half, and had
operated to the entire satisfaction of the public in
Scotland.

Mr. C. HOLLAND, delegate of the Liverpool
Chamber of Commerce, concurred in what had
been said as to the importance of the question.
The subject was ultimately referred to a select
committee appointed to consider and report upon it.
'Mr. J. D. GOODMAN, delegate of the Birmingham
Chamber of Commerce, adverting to the fact that
a paper was to be read on the registration of part-
nerships at the instance of the Manchester Com-
mercial Association, inquired whether the com-
mittee would consent to include the question of
extending the principle of limited liability to private
partnerships, which principle, he remarked, wa,.
embodied in a bill introduced in Parliament last
session, and ultimately withdrawn. The principle
of Limited liability, with regard to not less than
seven partners, was admitted.
The CHAMMAN—Not by everybody.
Mr. GooDM& said it had been adopted by the
Legislature; and he thought it might be usefully
extended so as to embrace the case of special loans
to a smaller number of private partners.
Mr. HEA.DLAM, chairman of the committee,
thought it desirable that the conference should
confine its attention to questions on which there
was likely to be something like agreement, and on
which, therefore, it could come to some practical
conclusion. (hear, hear.)
The CHAIRMAN and Lord STANLEY expressed
their concurrence in this view; the former observing
that in cases in which there was unanimity, or an
approximation to it, there would be a chance of
securing immediate action on the part of the
Government and the Legislature.
Mr. C. HOLLAND thought that the programme
was already sufficiently extensive, and that any
additions which could be made with advantage
might be easily engrafted on some one of the sub-
r. RKIN
sub-
jects set down for consideration.
On the motion of Mr. 110 IT AND, seconded by
mMitteeAN
the T',.."--,,gramme prepared by the com-
-
,
~as then approved .
In act:rciance this with
decision, the first subject
which• will come before the conference to-day will
be the law of debtor and creditors
more particularly
the bankruptcy law,
After a short conversation on oiut
s of order or
detail connected with the 13
e sittings, the meeting
adjourned,

__=s
quotation of um. 4 at Paris le I
PRICE 0, GOLD.—Tha
Laboonudto6n Pi:r2msi.2lloe 131)er:1111r ster"linclite49
short exchange oil '
rates with the n oothparing these
F:Lgligh Mint price of 31. 17s. 100. per
ounce for Standard gold, it appSars that gold is nearly
-100).-3 per cent. dearer in Paris than in London. 13y
-advices from Hamburg the price of gold is 423 per mark,
and the short exchange on London is 13'21 per 1/. ster-
ling. Standard gold, at the English Mint price, is there-
fore nearly 6-10ths per cent, dearer.llo Hamburg than in
London. The course of exchange at New York on
London for bills at 60 day's' sight is 168,1 per cent.,
which, when compared with the Mh it par between the
two countries, shows that the fact ange is nominally
against England; but, after maid 'ng allowance for
charges of transport and difference of i
.0 terest, the present
rate leaves no profit on the transmi 41Si .ounf gold either
Way between the two countries...