The Sun.
London, England, 1861-07-18 00:00:00

THE .BANKRUPTCY BILL.

The House of Commons is to be invited to-day to
disagree with the two most important of the Lords'
alterations of the Bankruptcy Bill. The almost
unanimous feeling of the trading and commercial
classes against the proposed retention of the pre-
sent powers of the official assignees has been tea
unmistakeably evinced by petitions most numer-
ously and influentially signed, as well by individual
traders as by the various Chambers of Commerce
throughout the country, to be disregarded ; whilst
the necessity of creating a new Judge to administer
the new system is fully recognised. There are, how-
ever, many other minor but still important, and (as
we must term them) insidious, alterations made in
this bill by the House of Lords, to which we desire
to direct the attention of the House of Commons and
the public at large. On the retrospective clauses,
as they are called, we will not comment, further
than to observe that although it may be reasonable
to apply the new law to old cases, yet care must be
taken that, either under the old or the new law,
these cases may be reached and provided for in
some way. That such a contingency has in other
cases been overlooked by the House of Lords
appears from the fact that they have inserted a
clause which precludes any trader who is not in
prison from petitioning the Bankruptcy Court,
unless assets to the amount of 1:150 can be
shown to exist ; so that a numerous class of
small tradesmen and others would thus be en-
tirely debarred of relief under the statute, un-
less some compassionate and generous cre-
ditor could be found to go through the process of a
lawsuit to incarcerate them. The Lords in this in-
stance had forgotten that the Insolvency Courts and
the system there administered were to be abolished ;
but the recalcitrant feeling in their minds against
that abolition crops out in many other places. Thus
eight or nine clauses are all intended to reintroduce
for specific purposes and in individual cases the
very same insolvent law which it is the main scope
and purport of the Bill to repeal. The noted ques-
tion
illustration.
"What's in a name ?" never received a more
forcible The Lords are content that
non-traders shall be called bankrupts instead of in-
solvents, provided their persons and estates continue
liable the same consequences only as under the
Ta
present aw of insolvency. Another class of altera-
tions by the Lords consists of minute verbal changes,
which might be hoped to pass unnoticed, but which
in reality neutralise or defeat the whole effect and
meaning of the clauses in which they occur. Thus the
Bill provided that in all cases an estate at the credi-
tors' wish should be transferred to the County Court,
where it might be woundup with greater celerityand
economy ; but the Lords, by substituting the word
" may" for " shall," have practically given the Court
of Bankruptcy the power of over-riding the wishes
and resolutions of the creditors. A similar substitu-
tion of words has left it within the option of the
present Bankruptcy Commissioners whether they
will transact any business at chambers or not ;
%ndas these officials would not unnaturally be dis-
inclined to depart in any particular from a
system with which they are thoroughly familiar,
and in the practice of which many of them have
grown grey, the hopes of those who anticipated
a vast saving of time and expense from the intro-
duction into Bankruptcy of Chamber practice will
be in all probability entirely frustrated if this
alteration be allowed to remain in the bill. Again,
with regard to trust deeds, the bill had made three
most valuable and important changes in the law,
by which business would have been facilitated and
litigation avoided. A majority in value of a man's
creditors might resolve to accept part of his property
instead of the whole, and upon receiving that part
might release him from his existing debts and lia-
bilities by executing a deed, a form of which was
given by the act, so that no cavil might hereafter
be entertained as to its validity. But the House of
Lords think that creditors should not be allowed
to make such an arrangement, and accordingly,
by the elision and insertion of sundry little words,
they would propose that the majority must be in
number and value, so that creditors to the amount
of £lO should have as much voice in the matter as
creditors to the amount of £1,000; that the whole
of a debtor's property, even down to the wearing
apparel of himself and his family, should be given
up ; and that there should be no form of deed, in order
that dissentient creditors may be able to call in pro-
fessional ingenuity to upset the whole arrangement.
At present it is notorious that small creditors do re-
sist these arrangements, until, to obviate their op-
position, they are paid in full; that it is practically
impossible and theoretically undesirable that the
whole of a man's effects should be handed over
to his creditors, especially if they are wil-
ine to take less; and that legal objections to these
deeds are the usual resource of a defeated yet un-
convinced minority of small creditors ; and we trust
that here also the Commons will disagree with the
Lords' " amendments." One whimsical " amend-
ment" remains to be noticed—the Bankruptcy Com-
missioners are not to be allowed to try a bankrupt
for misdemeanour unless he consent to their juris-
diction. If a criminal in bankruptcy is to be really
allowed to choose his own tribunal, we imagine that
he would (especially if a non-trader) prefer the
House of Lords. With the exception, perhaps, of a
clause allowing a proof for premiums upon policies
of insurance, we have been unable to discover any
one single alteration made by the House of Lords
in this bill that is worthy to be called an " amend-
ment ;" and we believe that the House of Commons,
in resisting (with that exception) all the so-called
amendments would find itself backed and supported
by an amount of public opinion which the Upper
House would not be able to gainsay or resist. The
leading objects of this bill were to give to creditors
greater facilities in legal arrangements with their
debtor, and greater control over the debtor's estate,
or such part of it as they might think fit to accept ;
and also to cheapen, simplify, render uniform, and
otherwise improve, the realisation and distribution
of that estate, when necessary, by the Court of
Bankruptcy. The country will have no difficulty
in determining which branch of the Legislature has
adhered most faithfully to these objects, of which
the legal and commercial soundness is undeniable
and undenied.—Daily News.

THIS DABS MABEE=

CORN EXCHANGE.

INItERIAL WEEKLY AVERAGES. Wheat, 50s Od;
barley, 30s 4d ; oats, 24s 6d ;: rye, 33s Od ; beans, 42s
4d ; and peas, 42s Od.
THE SIX WEEKS' AVERAGES. Wheat, 528 7(1 ;
barley, 32s 5d ; oats, 25s sd; rye, 35s sd; beans, 43s lld ;
peas, 405 Id.
ENGLISH GRAIN SOLD LAST WEEK.--Wheat, 51,467;
barley, 1,093 ; oats, 2,106 ; rye, 18 ; beans, 1,418 ; peas,
27 quarters.

METROPOLITAN CATTLE MARKET.
Our market to-day was but moderately supplied with
beasts, which moved off steadily, at fully Monday's cur-
rency. A few very superior Scots and • crosses have
realised ss. 2d. per Blbs. The show of sheep was tolerably
good. Prime Downs and half-breds commanded a ready
sale at, in some few instances, a slight advance in the quo-
tations. Other breeds were a slow inquiry, at late rates. A
few very superior lambs realised 6s. 4d. per 81bs., but in-
ferior breeds were a dull inquiry. We have to report a
heavy sale for calves, at the late decline in value. Pigs
and milch cows were very dull, on former terms.

Per Sib, to sink the offal.

Crse. & inf. beasts 3 6 .3 8
Second quality do. 3 10 4 2
Prime large oxen 4 4 4 8
Prime Scots, &c. 4 10 5 0
Crse. & inf. sheep 3 4 3 6
Second quality do. 3 8 4 0
Lambs, 6s 1
Suckling calves, 21s to 30s
21s to 295.

s. d. s. d.
Primecrs-wool d 0.4 4 4 10
Pine. S'thdown dO. 5 o 6 4
Largo arse. calves 3 6 4 0
Prime small do 4 2 4 8
Large hogs 3 10 4 4
Small porkers 4 6 4 8
Id to 6s 4d.
; and quarter-old store pigs,

TOTAL SUPPLY
Beasts
Sheep and lambs.... 12,220
Calves
Pigs. 3OO,

FOREIGN SUPPLY.
Beasts .....•••••••••
280
sheep .............. 1,200
Calves . ........... 250
Pigs •• • •

MEAT MARKETS.
NEIVGATE AND LEADENNALL. ^ The supplies of
meat are moderately good, and the demand rules steady, as
follows 3s led to 4s 4d ;
follows : Beef, from 3s Od to 4s 6d ; mutton, 3s 6d to 4a
8d ; lamb, 4s 8d to 58 4d ;
pork,
38 10d to 4s 8.1 per 81bs. by the carcase.
17.—The supply of stock here to-day
4sstoeciadtoy
SOUTHALL, July
was moderate, and the trade genoe(rialtltrtulone,d
o 4s 6d; pork, 45
as follows : Beef, 3s 8d to 5s Od •
5s to
; lamb, 5s Od ts 68 Od ; veal, 4s
Od to 48 8d per 81bs to sink the offal.
ROMFORD July 17.—Prime beasts and sheep commanded
a steady sale, at full prices ; otherwise,
Jews :—Beef, from 3s Odvetoals, s4osdd• trade dull, as fol-
Mutton, 38 10d to 58 4d ;
lamb, 5s 2d to Os 2d ;
Od to 4s 6d per 81bs; d to 4s 6cl ; and pork, 45
suckling calves, 168 to 20s; quarter
old store pigs, 21s to 286 each; and milch cows, £l5 Os
to £lB Os each.

RAY MARKETS.
SMITHFIELD..—Old Meadow hay, £2 Os to £5 Os Od ;
now do., £2B 108 to £4 Os • old clover do. £3 10s to £6 Os
new do., £3 Os to £4 15s; and straw, 14s to £2 Os per
load. A fair demand.
CUMBERLAND.—OId Meadow hay, £2 Os to R.f) Os; stew
do., £2 lOs to £4 Os : old clover, £3 10s to £5 18s .; new do.,
£3 Os to £4 12s; and straw, £1 15s to £2 OK per load.
Trade dull.

WHITECIIAPEL.—OId Meadow hay, £2 Os to £5 Os Od
new do., £2 10s to £4 Os ; old clover, £3 10s to £6 Os Od
new do. £3 Os to £4 16s; aad straw, £1 14s to £2 Oa per
load. Trade steadY.

COAL MAR,
(Prime of Coal per Ton at
s. d.
Tanfield Moor Butea..l3 0 s.
Holywell .. 15 6 Heugh Hall ~.....17
carway and DuffiTn South Hetton ~ ..• •• L 9
Malting 24 0 Hart1ep001......... • •• t;
Do. Anthracite 21 6 Shinchtle
....17
West Wylam 14 0 South Hartlepool" •• "
Wylam ....15 6
Ships at market

.ET,—JULY 17.
the elm of the n3a rket
Walls 3.ir Ld.

16 sold, 15.

IMPERIAL PARLIAMENT,

HOUSE OF CONINIONS—YESTERDAY.
The SPEAKEtooke chair at twelve o'clock.
TE BUSINESS.
The Lords' amendments to the following bills were con-
sidered and agreed to :—Bolton Corporation; Brighton,
Uckfield, and Tunbridge Wells Railway; Hawick Police
and Improvement ; and Stockport, Timperley, and Al-
trincham Junction Railway Bills.

MINES TRESPASSES PREVENTION BILL.
Mr. SHERIDAN, in moving the second reading of this
bill, said that its object was to prevent the depredations
that were frequently committed in miner, by which a great
loss was inflicted on mine proprietors. By the present law
very little provision was made to meet these injuries, and
serious complaints were made in consequence by parties
who were unable to obtain redress. The only remedy at
present was an application to the Court of Chan-
cery, which was a very roundabout process, or an
action at common law for trespass. Before the commence-
ment of such action, however, the injury was committed,
and very frequently no redress was obtained, as the persons
who were the offending parties were frequently men of
straw, and in many cases the injury was not discovered
until legal remedy was barred by the Statute of Limitation.
What he proposed by the bill was, to enable a mine owner,
on his making an affidavit before the Judges in Chambers,
that he believed an injury had been inflicted on his pro-
perty, to obtain an order for inspecting the same. The
hon. member here read extracts from the evidence of mine
inspectors, to show the extent to which those injuries were
carried.
Mr. PAULL said that, although his name was on the
back of the bill, he informed the hon. member who intro-
duced it that he was opposed to its provisions, as it had not
the approval of mine proprietors generally.
Mr. CLIVE opposed the bill, which was objectionable
because even on suspicion an underground warrant could
be obtained before the: injury was ascertained, which
took it out of the category of the law relating to injury be-
tween man and man. To justify the introduction of such
a measure, it should be shown that some great public
interest was involved, and he advised his hon. friend to
withdraw the bill.
After a few words from Mr. SHERIDAN, the bill was
withdrawn.
CRIMINAL PROCEEDINGS OATH RELIEF BILL.
Mr. DENMAN said he was surprised that the Solicitor-
General (now the Attorney-General) had opposed this bill,
which he believed was in accordance with the liberal
principles which had actuate& the present Government.
The hon. and learned gentleman mentioned many cases
which had come within his own experience which showed
that justice had been defeated on account of conscientious
objections to taking an oath. Witnesses in such cases
were not allowed to give evidence, and were not unfre-
queutly punished for their refusal. The evidence of such
persons would in many cases be more to be relied upon than
the evidence of those who readily took the oath, and never
thought about it afterwards.
The house went into committee on the bill. The various
clauses having been agreed to, the bill was reported to the
house, and ordered to be read a third time to-morrow.
SHERIFFS' COURT (SCOTLAND) (No. 2) BILL.
This bill was withdrawn.
INDICTABLE OFFENCES (METROPOLITAN

DISTRICT) BILL.

The consideration of this bill was postponed till this day
week.
LOCAL GOVERNMENT AMENDMENT BILL.
This bill, as amended, was considered and agreed to.
IRREMOVABLE POOR BILL.
This bill was read a third time and passed.
METROPOLIS LOCAL ACT AMENDMENT BILL.
The house went into committee on this bill.
The clauses to 71 inclusive were agreed to.
On clause 72,
Mr. LOCKE said this was a very important clause, and
gave powers to the board of which he did not approve. He
alluded to the case of a church at the West-End, wherein a
most unjust decision in reference to a projection of a church
in the neighbourhood and the pulling down of the chancel,
which deprived 200 of the poor inhabitants of a place of
worship, Vice-Chancellor Stuart decided that the board
was wrong, and an appeal was made to the late Lord Chan-
cellor, who decided in their favour merely on a point of
law.
Mr. BRISTOW said that the board were guided in these
matters by the advice of their architect.
Mr. LOCKE did not consider that explanation satis-
factory.
Sir, G. C. LEWIS said that in his opinion the explana-
tion given was quite satisfactory, and he would vote for the
clause.
After some further conversation the committee divided,
when there appeared—
For the clause
Against it 36
Majority
The clause was accordingly lost.
The remaining clauses were agreed to.
SUPPLY.
The report of supply was brought up and agreed to.
THE TURNPIKE ACT CONTINUANCE BILL.
This bill was read a third time and passed.
PUBLIC WORKS HARBOUR BILL.
This bill was read a third time and passed.
The house adjourned at four o'clock.

COMMITTEE FOR PRIVILEGES.

HOUSE OF LORDS, JULY 17.

Their lordships assembled this afternoon at 2 o'clock as
a committe3 for privileges to take into consideration the
following peerage claim—Lord Itedesdale in the chair.
LORD DIINDONALD'S CLAIM.

LONDON SCOTTISH VOLUNTEERS.

THE ' (SUN,