1876-02-22 — Page 2

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SUPPLIED TO TER DAILY PRESL THE LEFORM OF TUEKES--COUNT ANDRAJDY 9

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Mr. Love and Mr. Forster objected to the despole title of Empress

RETURN OF MR. JACOB HEIGHT FOE

KANCHESTER,

of Parlement for Manchester.

ENOWDEN

THE DAILY PRESS, TUESDAY FEBRUARY AND, 1876.

IMPORTANT DECISION.

are not registered at all; then the Ordinance they to be secured ognized if the firm contiuded does not compromise our macurities, or year the nagagamenta of each, and owing further to disclaimed or not by the Authorities, as circumstances may determine. It is, how- AHINWALL, AND ANOTHER V. BENEDER,

makes them.roid against sybarquent bonds bus nesa Whom were they to be ssonced independent elzts ofaution respecting the fact that arbibita, 33 io number, besides the purchaseramatzages for a valðable bonieri arginal except other creditora in gase of talirejeane. The dead contains corresponding evidence and the inw, anthorities from ovor I * SQUONLAY, AND COMPANT, A ever, a significant fact that the Russians

deration. The trustees andor the deed of truas That there may be no misapprehension and that provision, I was contatided on the part of believo 100 volumes an unprece lentud number Chief Justice Ch John Brads and Mr. Justice are saab puuhakars dad fas and for a valuable ino larger share of blume than is dus may feet the defendants that they gave no resent to a to which we have been referred, haveTM been rarely or never go blok. Sons $1000 is Snowden dobrored judgment in the above case contidemtion. It is not engy to say what the on Mr As F. Reard, Think it right here to re dad which would from its nature ho prohibitive wanted by esch of us at the same time for an always found for remaining ir ne invaded on Wednesday the 18th inat,

manning of section 4 can be. I wens to mapest what has been often said bolors that the of Ang. Heard & Co.'s resting business, MT disturbed and commentet donaldemtion. Wa country, and ultimately it is anuered, In this as the Hon. The Whittall and that the intention at tak satce i la pítserra termodulent preference does, got me Parker lnd at eane meeting used the word have come to the conclusion that it would havs Theophilas Geo Ginstead, describing thomaslves the priority of a deed nowording in the date of loossarily imply an offense against either honour rosumption which I have no doubt had been advisable that this case should have been We have pointed out to the Chiness Go-beleg, winter of the state and dents ct. Ita cortion, whleb, (pongh resuled before, it or hidesty. The act impeached may be a vizlied and had been misunderstood by the beard in the first instande by our Judys slicing vernment more than ones that danger lies to John Heard, Augustine Ficand, Albert Farley registered after another deed within one month thoroughly moral and praiseworthy zobato one London proditors. I do not think that the alone, or by him with a jury, We think this the northword. Their policy towards other Heard, Robert Inglis Tearen and Charles from date. The al doods in questian were all creditor, and yet, if it tends to defest and delay defendants contemplated such a doed us this, course would be siwaya preferable it is the Edward Parter, lalely trading in copartnership registered on April 14th, Ching the treat the body of creditora it in against the pokey of but I think that say aid inland to visent to narni course in Bugland--though we recognise Europrau States should be ons of concilia- in forgang, China, Japan, and we United deed was not registered, before April, 231f, the bankruptcy laws, and so is and to be some sort of dead affecting sa arrangement the front advantage to suitors that wo tion, and, by throwing open the counter to States of Amerion, an merobacts and general They would therefore in my opinion have frandnlents The use of the two last loan between Aug. Heard & Do. and their creditore, abeuld sit in fall Court, and bear, and agents, under the style of Augustine Haard & priority. The same question does not arise oredite cannot be defended, yet I hope and perhaps an inspetormirip deed which would confor, and decide on a review in the Korsigo trade and adopting Wastern inven- Co, andor and by virtue of a simsin deed of wit respect to the two dreds of April 13th, Be Beliero that Mr. A. F. Heard was neting on the Lave the property it the lands of Aug. Heard cases in which any litigant party may appeal. tions and improvements, give them all such resignment made and extered into by and be they word registared within one mouth of the advice of the solicitors at Boston, and consulered & Do; on the couxton but their securities were I now probeid to express my opinion o a stake in ber independence, at te make it tween the said frustees of aid firm and their execution and before the trust deed. These that it was bin duty to protect the defondsats not molested. This ecoms to me to have been the several questions which appose to me to impracticable for Russie to ever untorinko radio basic date blog eight deeds the plaintifs now seck to get aside by be motongen if he had their money the condition of their absenting to any dand be necessary to be considered in order to lend under the provisions of the Bankrupt Ordinoucas made by way of fraudulent proferunde. In the core of the argoment a very large But it bas been always held that assenta to s to a decision of this oase. In the very elaborate the songcest of their country.

1844, are plaintiffs; and Oberfes Victor Benacka, amounting to acts of bankruptcy, and as autabor of cases were cited on the one side sød trust dead of this lind, most be anqualified and grguments, to which we attentively listened Henriette Blizubath Banecke, to Angaste voluntary deede vold, under 27th Eliz. Theas the other, and from the judgments delivered by wihout condition, Johnach v. Ominton 38 L. J. many points were raised; other important ques Haneke, and Krnet Charles Benecke, currylug questions may be considered together. If the very learned judges quotations were stimoled Bz76, and ex parte Rawlings, 32 L. J. Bank; tions occurred to us in dingusions between on busmees in partner in the City of deads are sold under the act of Els they will bearing on the subject more or less, Bui Horsfall. The Son Bank and Briok Works onrealves, The presies questions in this came. London as bankare, under the style or firm of be void in bankruptoy, though the outer really caoli, cheo roste on ita own merite, and 18 L. Times N. 309, are authorities on this are novel in this Colony, which may aseount for Beoecks, Souchay & Co. and by amendment of tos proposition does not hold good. Now there are foukarys in this preo distinguishing it point. I think the sent here was conditions, the length of the arguments, We have referred W. Brereton, a trustee named on the last of the Bankraptoy Ord No.6 of 1864 composed from any other I can find in the Baporta. The and would not be a good assent to trust deed to and considered all the cases cited which work the mortgage deeds, are defendants of provisons borrowed partly from 12th and renait Is this, in my opinion. It these six con auder nation 188, and if ayit would be deducted with our reach. The reports of some very The prayer of the plaintiffs paition is that 190 Viot: ch. 126, and partly from the 24th veyances, being courcyanoes of part only of from the sum tots of mesenta, The eme. rals important ones are not in the Corrt library or certain deeds, wight in number, being near and 25th Vict., chip: 334, Beat.986C the Ord. the debtors proparty, had been made in oon wouldapply to the scent of Moeurs, Buring Broe, even in private libraries in the Colony, Forthese ance by way of mortgage by augetine Heard following seet. 125 of 12 and 19 Viot, ob. 126 sideration of an netual bond fids advance, then & Oo. And that tos for the whole value of their we have been obliged to trust to marginal notes The Hongtong Choral Sociely give their & Co. to the defendants, dated respostively: -enhets that if any bankrupt, being at the time nuob a consideration would, I think, csans ta sedurities, inasmuch after many conflicting and imperfect anmmaries in text hosts, of wbleh third concort of the sonsqu this orening at nine three dated 2nd February, three dated the 34th insolvent shall (except upon marriage of any of support the antecedent advances, and it would be decisione (ex parte Morgan, L., Back, p. 15 a deceased most learned Judge used to say that o'clock. An attractive programme is promised, February, and two the 18th of April, 1875, may his children or for some valuable consideration) dilicult to take the cam out of the range of the having been decided in the opposite direction they are unreliable, an opinion in which I am and there will doable ben good attendance, be declared void and may be ordered to be not bava conveyed, aigned, or trans! rred to any principles kid down in Bittleston Cook, 2 by Lord Westbury), the oneca of Whittaker confirmed by long experience. It mame to ma

nside. The Hieron Shimbun has been informed that The plinta alleged that these several desis Ponty hareditaments, offices, fees, sapnition, J. Q. B. 291 Bills. Smith Mercer Lowe L. E. vol. LEq. p. 74, and in ro Bark, that ab noon or the fasta and circumstances lentes, goods, or chattole, to, this Court may Paterson L. B. vol. 2, Fr, 304 and & Ex. 304; Er R.1 Obati, ap. 180, are now oonslasive that the are clearly a certamed this ghee forms the Goveromons has applied ton foreign as were fraudulent preferences by Agustino order the same to be cold and disposed of for parts Forley .. R. 3. Chan, ap. p. 514; In ra value of the semities of secured crediture is no exceptiou to the general salo... that the Barance. Company in Tulubawa for n lese of Beard & Co. against the provisions of the the benefit of the creditora master the bank Culemere La R. Chan sp. 1994; and ex parte nos to be deducted. Besides, the assenta of law applicable to them besonide much less three millions of gen. The loss, it adds, bas slateten of Elizabeth, and against the provisione replay. By past 167 of the Ori, which is a | Taxpest I. B 6 Oban.

Es ob. 87, in which gistration of the cood had not been obtained, indeed as soon as I had atfafted myself THE YARIOUS HOUSE FLAGS been agreed to on the productios of the veces of the Bankruptcy. Ordinarios 1864 verbatim aopy of seat, 190 of 24 and 25 Vict. v. Oluridze 53 L. J. Q. & P. 71, und Waitmoro, holders of catatanding bills at the date of re-complex than it at first appeared to be:

sary securities,

The mad came on and was heard on Novem-ob. 194 it is provided that after the registration conveyances and transfers of property have been and they, it bra bien decided (Poirio. Petric, to what the facts were, I bud no doubt as to bor 25th, 28th, and 29th, December 10, 200; 6th, aftraat dood described in previous sections: 163-uphold Rut in there cases we find either that Chan, Ap. 132), are oreditors having what our decision ought to be. I am of opinion The Paalmanlar and Driental Steam Navigach, Lith, 11th, 19th, and lath, 1875, and at the 165, the debtor, certain greditore sad trastece there was some presions agreement, to piva praveable debta hong dazent must be obtained, that this case comes more clearly within tion Company has definitely decided upon desire of the Dourt on February the 7th. 1570, 26, stall bare the benefit of and to liuble to fill security, or that the converance was made to But whose owing to their abacnae in foreign the ente which avoids fraudulent preferences starting a line of steamers which shall pir bafore the full Court without a Jury, t

the provisions of the Ord, in the same or like scoure past and present or present advances countries or some other reason such agent on than even the case of Exley v. Inglis, LR. 3 between Yokahəmmand Shangbai, palling at 3. Hayler ..ond Mr.Handley, instructed manner as if the debtor had been adjudged a only, or that they were made under immediate not be obtained, the provisions of section 170 Ex. 247. There the preferance wus on pressure Hiego and Nagsaki.. The first steiner des- by Alesso. Caldwell and Brorston, appeared for babkragt, and the creditors bad proved, nad pressure, or there is to be found some ofruara-Bhokraptcy Ordinance must hare boun som- by the proferred creditor on the debtor; here patched will be the Orisse, which will mail hence the plaintiff The Attorney. Genord, and Ur, the trestaos had been appointed creditora stance which takes that orau out of the rules plied with and notices given the local papers, the preterences by the debtors were spontaneous on the 25th bust. She will be followed shortly Kingemil, instructed by Mesra, Sharp, Toller, assignéré ander each bankruptcy. Bat it had relating to sole of Lukruptcy. The Stanean-But this precaution had not been taken. In view? In that once Kelly, O, B., used language which by the Masilia, and afterwards by the Velum and Johnson, appeared for the defeat! been decided with reference to Sect. 98 of the tion here was very different, and it seems to me of the grave conesances of holding the trust appears to me entirely applicable to this case, Bian and Bombay.

The fonts and circumstances appear from the Ord. (Soul, 129 1.12 and 13 Vict, ah.. 184) obat that these mortgagon zure given to secure pre- deed to be invalid, after much consideration tho He said, "It ta nahenessary to consider the law. sdmissions in the plendinga, and from 87 conveyances voidable, nnder that section must ferred greditura, or perhaps rather preditora Court, under the towers conferred by the Oode, as it existed in the last century. Indeed it The N. C. Daily News contains an account of exbibit, and from the riva coge examinations of has bean made sled in coctemption of bank. fulur, in respect of antecedent fability, nudoalled on the plaintifle to produce, if possible, seems to me that the observations of the Judges farther evidence that the requisite, majority bad in that one and in the cases there referred to, the Mibelour Ball, held at the Sasugbi Club two member of the firm of Angustine Heardrupley, Morgan v. Brendrot, 5 B. and A. 239, ale to secure them in respect not of an actual on the 15th inst. About 100 guente, including & Lin., their bookkeeper, and other witnesses, Moreover, seot 105, Ord, protests conveyances presentandvarca but of a previous misapplicationamented, so as to make the dead binding on repecially Topping v. Kereali, 16 0 B. (N. 5). nearly 100 hadica, were expected, but the nau

JUDGMENT BY HIS HONOR ME, JUSTION made bona fide to purones, without notice of of credits, because the proccede of the oredite non-ancing reditors. This was the course 258, and 93, L. J. (G. P.) 22%, reported in 1864, ter be attended was considerably less, the

Na previous not of bankruptcy, except con had really bean misapplied before the deede wore adopted in ex parte Rawlings an appeal, conclusively decide the main questions now zapropitians weather detarring many who had

Mr. Jaslice Snowden delivered judgment as byunces and equitable mortgages made or giren eranted. To call thin an advance seems to men no doubt under diferent bircumstances, but we before us. The plaintiffs by their petition intended to be present. Otherwise the affair follows: juia: statement of facte as ioned by any baskrust by way of fraudulent preminush f language, even if the creation of the considered it appeable in this one. The at dosignate themmelred trusters of the estate of was in every respect a success. The rovins were by the Fall Court in this dige hus been preferences Tio restit therefore in that, aven if deate and the use of the credits were contem tempt and made and Failed. It was found in A. Heard & Co. under the provisions of the Bank- tastefnur decorated, their arrangement compared, and is brought into Court, and is good under the Stute of Elis, consuances poraucous. No doubt, when the defendants, inggible to show that the holders of current raptor Ordinanca 1864. The defendurtsadmitted venient and comfortable, and the supper ezcal- lent. Dunong was spiritedly kept up until taken as read, so that 16 18 Horary made by way of frantalone proference aut in discovered tut their credits had been drawn bills had assented, and I pointed out before, the that the deed as duly executed by the trusteer about three an, at which hour the guests were relor to them partionlarly. I therefore contemplation of bankruptcy will be voidable against, and the proceeds applied to parposes provisions of anet. 170 made to meat this very by Mr. Parker for himself and for his partars, propose only to state the grounds of my Nownham, Stevenson, 20. Li, J. C. P: 111 entirely foreign to those originally agreed upon, ouergency Ead not been carried out. This deed and they agreed to take no objection to the rapidly leaving.

dosion as briefly so I bare found is to be Were theas doods, then heing made when the they made the beat of it and soupled the tetherefore does not comply with the second resulcieray of the powers of attorney held by possible consistently with clearness. The dif- firm of Azgastina Heard & Co. was hopelessly curities imposed upon theta by necessity, bat inquisition of sent, 183, and in nos n good dead bim bonable him to execute the tied for al LATEST TELEGRAMS.ferent questions of law raised by the learned insolvent made for a good consideratino, kad no true sense canst be fairly called an advance onder that sect, as it was not proved that bie pectoare This disposes of the question conrral on either side have bou treated serialin,were they tranenations band fide medo and and the subsequent acceptance of the mort- majority of the tu valus of the creditors had whether on partner can be presumed to have that seeming to be the most convenient couras entered into and not by way of fraudulent gagar was not a ratsfention in my opinion as anted. In it then asterly rold and valueless been empowered by his partners to commit an bo follow. I do not propose to decide what the preferens-nor in contemplation of bank-Wes urged in argument. I have already. It is a derd registered in Lankruptcy, and not of bankruptoy by ench a deed as the pro precize legal definition of the arrangement anroptoy I have no doubt that they were stated that the deeds were entirely voluntary. by sect. 16 is receivable ia eridance and ensures sent, as to which doubts might be rassed," tered into between Messrs. Augustine Heard & voluntary. There is no suggestion that thers Moreover they were made to secure money used for the benefit of creditors asenting to it. The Some consents to the deed were also prozed. Co. and the defendants, Mears. Bepoke Co., as the least prestere on tic part of the to enable Meas A Heard & Co. to pay cause of Seymour, George 39 L. J. 231, coo-The trustees proved compliance with all the should've.. I find that a fand amounting to defendants, who little knew that thair two laut favoured reditors, the Chinese creditors at bred in the Ex. Ch. 34 I. J. 187 provisions of action 188 of Bankruptcy Ordi 230,000 was (by the letters of April 10th and letters of grodit had been used at all, muebles Canton and elsewhere, not ta enable them to parte Atkinson L. R. Eq. vol. 9 p. 736 ounce 1864 except condition No. 3, which ro Augue: 23th, 1874, or the command of a credit that they had been applied to pay off Obinna marry on their business, as was the ouse in re which explains the apparently contrary view quires the aosunt of a majority in uawber and to that amount) placed by the defendants in oreditore. There was not even a request Colomere LR, 1 Chun, 129, and so the tendency held in Pearson †, Pearson, IL. R. EL. 803, and 8/4tha in value of the ereditors pe defendanta the banda of Messrs. Augustine Heard & Co. n any evious ugrugment or any oblige was to defeat and delay the general body of oredi Johnson v. Oscopion 38 L. J. Rx. 76 show that objected that the second condition had not bran for certain epsointi purposes, and ou certain sign to uke them. The agreement entered tors, and this is an set of bankraptoy. In re a dead though vold under sect. 183 may come complied with, that it was not proved that's insurred terms. Ore of these terms was a division to by Augustino Heard & Co, to cover the bills Colemera L. R. 1 Ousa, ap. by Lined Deanworth, within die scope of sect. 165..and so be within majority in number and 3/4ths in value of the of profits and losses. So Messro, Bencoke, dwz against credita was to demo by maritting i says after remarking on the policy of the 10 the operation of sect. This deed is a per creditors had in writingssented to the Sooohay & Co. provided the capital to carry on good billa on London. A mortgage of realty and 13 Vict. Ch. 106, seo, 67, “svery reasonable footly good deed at Common Law, and I have trust deed. This objection thus were clearly King Alfonse of Spain has opened the Cortes certain exchange and lean-adrana operations was never dontempinte. And soch was the qualification has been introduced that the as-ome to the concision that this is such a deed entitled to take. The plaintiffs were thus pat as they may be termed, whilst Mesars. Augas meaning of the decasad for "cover" contained sigment to be fraudulent must be made, not for a come under the operation of sect. 167, and to fall proof of compliance with the second THE NEW BEIFFING AR

tire Heard & Co. contributed local experienas in the lettera from the defendante March 1, the purpose at raising money to enable the that be treates chain under it all the powers condition. See Bramble v. Moss, L.R. JO.P. and knowledge in the manipulation of the a term which has been invoket in sid of the trade so go on with bin trade, but for the of signees in bankruptcy. But it was argued 458 and ex parte Rawlings, 32 L. J. Bank, 27. capital on the terms of a division of profit and argument of demander pressursade in reapset purpose of paying some favoured creditor or that the defenlens were not creditors until the A great deal of time we ooonpied by the exa loss. Br. Justice Lindley is his work on part of the deeds of April. This request for cover making some payments to all kis creditors bila drawn ander the credits had been accepted. mination of witnesses and documents put in derthip, p 19, Buys that he is not aware of arrived long after the devile of Baurury were otherwise thau through the Bankruptcy Court. In point of fast, however, the defendants at the avidence tending to confirm Mr. Parker'an- any case in walch persons who bare agreed to male. It will be bere convénient to quote Lord In either of these ongea it su su set of bank date of the registration of the deed were davit that no oiujucities of creditors in pun- divide profit and loss have been held not to be Hatherley's language in ex paris Tempest, Lruploy." Ibres elements of Fraudolent pre-retoal creditor for a small sam of about her and value bad on the day of registration partners." In the presentase the question of RG Oban. ap. p. 74. He says, "Toc principle feruuce as laid lowe in Griffith and Holmes are £300 in respeit of lossus on some joint ssscuted to the deed, and by the argumenta portocrabip in profit and losses could only that in order to contitate a franfinlent prefer as follows-p. 433, following Bourney. Graham, dealings in tea. This beng other mid thereon. After a long ecosideration of the extend to £30000 Ladranand under the three cute the trim bytte spontaneous act of the 2 Junist, N. 8. 1225)-1. Contemplation of beat- be assenting creditors provided their agent, oase we thought the evidence adduced to prove due compl- first credits for 210.000 b. The two last debtor not bond fide originating in ʼn demand or raptcy, the immense proximity of the event is Toller, hat any authority to sign at all was bou vagna

We gave the credits for £10,000 each, forwarded to cases, some other step of the creditor. These words not essential du hao koon bell frequently 2 As I bave before rensarted, I think there was anee with condition No. Augustine Heard & Co. ia slotter from de- exactly apply here. In the nest plaou were distribution proprio mole by bankrop, Ard, anthority gives to sign a deed, but not such plaintiffs an opportunity by proving the precies fendants, dated November 6th, to take the place these deeds made by way of fundulent prefer distribution different from that wilen, would be a deed as thia was intended to be. Is then the amout of the indebtednces of Aug. Hoard & of credits which bad expired or were bellared snoe? I do not attoh musb portance to the made by the Court of Bankruptcy, This is a property conveyed by these mortgage deeds. Da, and by a nominal list of assenting creditora to be about to expire, could rot, I think, be in fact that Mr. A. F. Heard was anxious to keep fair description of some of the essential invight in number, beyond the reach of the tea making np the due amounts of creditors in Mr. Jarch Bright has been alects Member cluded in the partnership capitatif partner these desde secret, and that be did not register gredients of a frandaient proferendo; and all leta) It ang argued by the learned Attorney amber and value to Ratisfy as that this 2

abip there was the agreement limited the them in the land office under the Ordinance are to be found in this case, Even if there had Genert that by the provian in the dead of trust andrion had been complied with; but air. capital to £2,000 out at any one time, and 8 of 1844. The Druinance does not require heen to crisling debt there was ans likely to protecting theas securities the traines bad Hayllar, after baving naked for and obtained" tline two last, credite ware eet not only it. Sngh en obligation would not he reason are on the acccptance of the bills, and it waived, their right to avoid these mortgages, time for this purpose, at an adjourned bearing. without the sanction but in defiome of the exable as it gems to me, as it might шrolve in the decda were made with the intention that and shab, as they were good against the grantors, on the 7th of Fubrnary instant, said he did not press instrnations of the defendente and of the bankruptcy any merchant who, in a state choud bankruptcy superene proference Aug. Heard & Co., the trustee were estopped adant that the amount of consente le nom ber Atement made by Augustine Heard & Co. of pere temporary embarrassmont, raised might be accured to the defondants, the case of from impenching them. I cannot concur in and walne was in fact insoffioien, bes be stated Kemptoe, 19 I J, C. P. 1697, is an that argument; itaeemi to me that this provid that he was ayable in this euit to pradoon she Without deciding, it is necessary to refer money on the entity of houssbuld property Bioes to this point, because if the agreement was at land. Besides, the deeds were practically authority that such would be a fraudulent pro- mnnst be held to have been intended to protect evidence which are required to sustain the deed one of partnership and an account must be in the hands of the graptote themselves, ference. Next to the deeds of April 13th. Ms. valid securities, but not to aphold any voidable on that point. I ara therefore of opinion that taken to the extent of 230,000 minte Their very existance was unknown to any one Parker had then beoume a partner, and acting as fraudulent preferences. Would the clause be this deed does not comply with sectián 163. the £7,000 more or less remitted-it is doubtful else, and they could always be registered in time Bider intraclions from Mr. A. F. Heard, who considered to bare that meaning, I should be The defendants also abjected that this truat if there was any debt for which the defendants to obtain priority ever any other deed. It is bad the rebel London, directed Mr. Brers disposed to hold that it is so repaguant to the dead, if valid, is valid merely as a deed at Com- could prove in bankruptcy belors an avecunqually true that if the emergey had passed to sod. Nr. Toller to prepare deeds gising the objects and tenor of the duet which shows a myn Law, and that it had no effect at all under: had been taken and a-balimos found to ba dce they could be suppressed altogether. But this defandanin fifther security. It is quite possible clear intention that the estate should be ad the Urdinenco, I am, Lowever, of opinion Hivyo swallowed up Khokand, Inid plaus

in respect of which their parents Would joins storecy of the transaction, the manner in which that alesere. Bencoke pressed Mr, A. F. Hear asinistered as in bankruptcy, that the prorize that this deed, valid ut Common Law, is valid for the speedy incorporation of the remainder

under the deed of assignment. If, on the other the deeds were prepared, not by Mr. Brereton, for further security, but, these is no proof of should be diewarded as inconsistent with under section 165 and that on the grammation. of Turkestan, and quietly absorbed Sagbalion,

hand, it was merely an advance, then on misap-the-retained solicitor of the firm, but by the soch a thing. All we know ia that by a tale the provisions of the bankruptcy Acts-in donateretion of section 167, and on the sath the Northern Colossus is now, it seems, on-

plication of the pracecde of the letters of credit graator, the execution before Mr. Brereton as gram from his petner, Mr. Perter is directed the same way as inconsistant powera con rity of Symonds. George 33 L. J. 21 231, an immediate debt might accrue; or, as nope of Notary Public, the anticly displayed by Mr. A to have these deeds made and executed, and the ferred by similar deed ware disregarded confirmed on appeal 34 L. J. Ex. 187 and gagad in pushing her way into the Chinesia

the billa drawn ander theea credit word accepted F. Heard that the contents of the deele should mortgaga deste removed from the sealed packet in ex parte Sprei fr. rc Josèple, 32 L. J. bank-other gaste, the plaintiffs by force of this deed, Empire, Information, which appears to be

by the defendants antil after the date of the not be seen, the deposit in a sealed packet, are and banded to filler as agent for the des roptoy p. 6. The trustees have the ostne which has been duly registered according to registration of the deed. reliable, has come down to Shanghai to this

zBsignment, a debt facts which throw great light on the intentione feuiante. This transnation seems to me to bo powers, rights, and remedies with respect to the provisions of our Bankruptcy Ordinance," ing dieleibution, viz. c

may have been created in faluro, or at any rate an of Mr. A. S. Heard it creating the securities, similar to the former ono. Thero io no evidence the debtors and their eatate and effects, and are not only Assignees at Common Law of the effect. It is stated in both our orthern A dicidad for the bald-you" }

inchoate ability. This subject will be treated and the question of the contemplation of bank-that it was not voluntary, and prind facie it the collection and recovery of the same, an are property comprised in the deed, bat adapting contemporarisa that the Russians have

of 2 per cent

of at greater length by and by. This atole the ruptdy, In the perfectly volatory mature and was. The deeds conscy, or rather earer, all the possessed or may be used or excroise by the words of that section the plaintiffs aro question of the variata conederations for which in the screcy of these deals we have un- remaining interest of the debtors in the pro-assignees Now, if these deeds were fraudulent subject to the jurisdiction of the Court in Bank. formed, or are about to form, & military sets by contributing Share

the mortgage deeds were given, as they are recited doubted elements of fraudulent praferense. But porty conveyed, and it manot be doubted preferences they were acts of bankruptcy, and raptoy, and they have the benefit of and are tlement on the right or Chinese back of the Directory fe

to consist of past debts and present advances, that is not enough; a mau baa a right to given that Mr. Lurker folt sure that a stoppage so the title of the trusices would relate back, liable to all the provisions of the Ordinance in Adoor, in the neighbourhood of Heb Sung Audit

and it was argued by the learned quel for the preference to a creditor, and, as has been was imminentur. A. F. Hpard structa Topping. Keyiell EL 3.0, P 225. This the same or like tender as if these debtora had 98,750.00 defendante that the use of the two last aredits, remarked, may be said to do so in every Mr Parker" to record" the mortgages, base as followed by a very important case not been adjudged bankrupte, and the creditors had Kiang Ch'ing, one of the principal towns of Tsitsibur, and that a further advance is

ratified by the defendants, amounted to & pre-mercantile trapenation where he pays one and Mr. 3. Heard, had before given Mr. A. Edited in argoment, but bearing gety strongly proved, and the plaintif the trustees had boon $18,049.00 sent advance which would support the more creditor before otham Belberd Auder. Heard then instructions, when sopimaton on the present creation, key v. Inglis, 3 L. sppointed oreditors sesignees under such bank. infirm consideration of an antecedent debt. 0, 5 T. R. 235. The law, howefor, says inevitable record. Can it be doubted that R. Ex. 247, This is an authority that trasters ruptuy, sud is particular that as between them. contemplated. The Bustians bave long been

The Directors are disappointed with the email The next question for consideration is the legal that ho must not do on in costemplation of bankruptcy was contemplated, wich soob a car take steps to avoid a fraudulent transfer of solve and the debtors and also an against third silently encroaching in this direction, audit amout of het gain shown on as considerable effect of the manner in which the deeds of bankruptcy, Contemplation of bankruptor hashes of debt suspension would only man foods for of securities, I suppose) made before perions they have the same powers, rights, and is doubtful where their advance is to end. of rose saruings, and they are giving February 2nd and 4th were prepared and been defined by many judges in many cases in bankruptcy, or its equivalent Bonides, within the execution of the deed, willent doing kay remedies with respect to the debtors and their the working of the business very special atten executed. Now it is shown that these deeds various terme. In Poland, Glyn, sited in the two days be stoppage of Meears: Fearon & Co. Bot to avoid the transsetion. The same argu, estate and effects and the collection and The Kawchwung correspondent ofthe Courier on, with a view, to a red nation in this cost of white prepared in scorot, and extented by the unter to look v. Joner & Bingham, Mr. Jastine in Ipudon was telegraphed out here. The in-mont was raised care as in Exicy and Inglis, recovery of the same, ne are possessed or as may states that the Chinese officials bare issued labour and a greater economy generally in the grantor, Mr. A. F. Heard, only, the defendants, Builer esys, if it was probable that hunkstinite business relations existing between that that the tenstore only take such property as be used or exercised by ass grees or creditors the grantees, being absolately ignorant that raptor would easue, then it may be predicated frm and Mesera. Ang, Heard & Co, ronder; it the deed, the ecotrast between the debtor and with respect to the bankrapte or their wote, proclamations forbidding their people to Compey's catablishments, The Doeke kate

so far this year besa remuneratively employed, anch-documents had been wado in their favone af him that be (the bankrupt) contemplatod it extremely difficult to ballare that Mr. F. his creditors, given them, and whleb was alone in siste and effects in bankruptcy. Holding that trade or have any dealings with the Russians, and the Directors, consider prospects for the math coloris afterwards. It was argued In Morgez Brundrota, & B. Ad, 296, Mr. Haard, did not know at the approaching the contemplation, namely, thepo da conveyed. there is no difference, at Jerat for the purposes who, they say, have come to make trouble; fotare me good, notwithstanding the kaso com, that son douaments are not to be considered Justice Parke aaya, Tas meaning of those failure of Messra Fearon & Co., which implied In the presunt ce the argumsul would be that of this soit between the statue of there playa bat beyond this they have evidently taken pelition with which the Company have to condeada oupable of aanvoying any interest in pro-worite I take to be that the payment or delivery necessarily their own failure, Mr. Parker says, the debtors having conroyed the property con- tiffe, whom I hold to be truitoes under srotion end; and they hope to pay off's puation of the party at ull. But many sums show that leeda, must be with intent to defɛat, the general disr when Mosere Fearon stopped it because prised in the mortgages to the defendante, they 165 of Ordinance & of 1864, and trustees under no step to oppose the unwarranted aggres debt of the Company during the coming six mate in a sixir way and executed by the inbution of effects, which takes plaes under a necessary for Aug. Heard & Co, to stop too could not bavilended to sonray it again to the voting 165, I use the words of Kelley, C. Ba sion. It will, however, be impossible to premontb

grantor alune, and ove retained under bis own commission of bankruptcy. Asetber definition They were out agents in London, a large trastess. But the doctrina laid down in Top Exley. Inglis at p. 254: Is is obvious that vent a collision happening, soccer or later,

control, may be effectual instruments to pass proc given by Chief Justico Tindal in Gibeon moant of bills were running as them. Mr plugt. Kereell was upheld in Biler v. Inglie. that Legislature intended by section 197 (of Mr. R. Lencon reaigned on leaving the Colony porty. The law is now settled that the question Bonito, 9 Soort p. 299, 18 quoted by Lord Jn Parker, who became partner uz Feb 11, com The Chief Bios says after pointing out that the English Act 1961, equivalent to section 167 between the two races, and then Tuin, and Megera. A Malver and E. Hoppina retires ous of intention. Wickham v Xenon lice Knight Frane with approbation in x to have joined the firm of Ang. Hoard & Co., the trust deed (similar to the one here) con of our Ordinance) to confer on such trus armed with some sort of a pretext, will pro-

the salat, and refers to all the most importat party it less bopelosa ustaz of solvency prospecs of advantage to himself, but from a there are tonny good reason why the rule only to obtain possession of the property from the Board by rotation, but offer themselves R. EL. 0.. is one of the latest authorities on purta Simpson De G. p. 19. Where a when a desperate airovmstances, from no furred on trustees the necessary powere, that tees powers large enough to enable them not deed to annex another portion of Manharis,

previous decisions. Mr. Justice Blackburnays, that be cancut ressonably sipcot to avoid generous with to help in the hour of need a ought to gorura "If no auch power were conveyed but to unde and set aside all previous It is not difficult to guess the result. Bit by

No partionlar teubaicul form of words or note bankruptcy, though he choose to fight it of me firm with which be had been connected for possessed there would be nothing to prevent a transactions under which the property that bit, Manchuria will be nibbled up by

is mecraenty to reuleran indrument the deed of long as possible, I cannot look upon a payment many years in a subordinate capasity, und in debtor frum signing secretly & large part of ought to be distributed among the creditors the party making it. The more affixing the made by him voluntarily to a tamurad creditur. which hin musle had formerly been a partner, his calate to farenred creditors, or those who generally was granted away in faront of one." this active and insidious Foxer, whoso The accounts have been audited by Meger sex does not make it a docet, hoe onun in any other light them at a payment. It may here be observed that after bo brose were no preditors at all, and so deprive read The same learned Judge alto Bags, Thia trens, infrience in China will then be firmly Robinson and Blakeman. The former offere there are sots or words, sufiglent to show alentated and intended to defeat the bankrupt partour and had examined the accounts he old bond fido creditare of the whole benefit of the fer being an act of bankraplay, no obange was himself for re-election, and the latter having at it is intended by the parky to be laws Contempleton of entraplay in Mr. A. F. Heard that they required: 420,000 to dead which be subsequently exsputed. There in elected in the property. He must he taksa established. Whenever the Ancor cease resigned, the Director bare nominated Mr. T. to be the boundary between the Burstan G. Liusto, subject to confrmation by the acted as his deed beectly binding our him, inference of a fast to be gathered from ant get through their dificulties, and this was after no alter way in which an assignee ona ed in other words to my sunk the transaction w

it is befolent. He goes on to say, And it feruanding oiraamataneos without any proof the two credito lind been used, pot before a watusily reach such property but by a resort to absolutely void. I confess myself entirely and Chinese Empires, the process of shareholders,

cicur from the authorities an well na from the tuut y distinct act was in View, Aldred . Cone argueil, here samma to have boon a rague hope the doctrines of bankraptoy. Baron Martin unsble to explain the dicta of the Judges in absorption of the outlying territories of the The Directors have dispensed with the services the obligue before it oume into the unitody of pends upes the mind and intention of the or Hoazon, but there can have been no bord fu disaffirm a hasdulent transfer. The case of am unable to see how the Judges could conour reasons of the thing that the deed to blading on table 6 Q B. 674, and it is for whion do that this sum would reach them from London conours in the opinion that the trustace could Parson v. Pearson L. B. Es. 308 in 1866 1 latter by the former will be rapid. There will of Ale Robert Duncan as Secretary, and aphs obliges, may, even before he knows of it." Junkrupt at the time, Gibson T. Houts up. belief that it would. Nest, was there an alarae. Feldeian 5 L, R. 9, 276 Ez. oh, and in the diota there expressed and follow ex parte Whather, if the crisis had passed, then doeds Now on February 20e, Hr. A F. Heard was equitable mortgage by deposit of title deeds? Exeyr. Inglis, ehow that apart from the Morgan 32 L. J. Bankraptey 15. In Fearman thon to no strong line of demarcation, and pointed bir. David Gillies.

WKESWICK, Cheicmuu?

would ever have resched the defendants, Bears, sale partner here, and battere be received Mr. Parker banded the wortgage deeds, to My doctrine of relation back ansignces may At aby v. Pearson the judges agreed that section 19 of Benecke, it is unnementy to apceplate, as in ble brother, Mr. John Hurd, the parmer Toller as agent for the defendante, and in time aroid a fraudulent transfer. I think, Big Bankruptay Ans 1861 (the same with our is hakud then ajanud kayanthakandaaldetary Levident in America, lave been put in evidence, Taller very naturally and properly demanded therefore, that those deeds were made when the section 165 of our Ordinance) bad been inserted TRANDY SHOR KEDUA and the Hurther icon- light on the thegitle seção, mhion scorcio his only frm of Angasli Heard de Lower lorem egy grid beh

This case supports the older coses cited in arga point, for there can be lo so that Mr. Aby Mr. Parkeren loved argued that red if the and Wetu sot inde for a valuable consideram take inseritdin thegeerton of Cerere, my mout Exton and Soft, Sim, 31y Hall v. Pal Y. Haard noted on the advice-contained in them. mortgages wore bad.this was a doposit of title on, and so mader asub D8 may be disposed of appeared, The Jodrea of the Court of Exole. what would there be to hinder the

mor, 19 L 358 Fletcher v. Fletcher, 15 They seem to me ti hracie ibe very spirit of deeds amounting to an egaitable mortgage. It by the trustees for the benefit of the creditora, quer appear to me in these dieta to Lave L. J. Cuan. 66. Some of these are stronger fraudulent preferemme They press rividly bore appears that Aur Tollor demanded or as being frondaient preferonses, and there amed the functions of legislation exceeding roduction of Cbira proper to Muscovite

case than the one at present under considers the critical state of the firm and the alarm of bean deeds an a doppaît by way of mortgage, fore must be destered void. I potions in the their proper functions of mere exponents of rule? Nothing but the interferance of other Yan Kwong San, a opelie to the cast hintion, because the dueda never passed out of the the writer, and I cannot conceive that that but merely accompanying the mortgage order which will be indicated by his Lordship, law. The potual decision in Pearson Pearson Powers. This is the best protection China of bis duty.

contractor, was fined for improper discharge creedy of the granture, and were only found suzisty, and alarma did not extend to Mr. A.F. deeds in the completion of the title. The DOGMENT DE THE CAMP FESTICE, appears to me to have bean priced to this, Amongst their papers stier death. So Mr. A. Hourd in Hongkong. The letters deporile the intantion to greate an equitable mortgage must The Chiccatice (Sir John Smale) gere hio) that an augument of a chose in setien did not can possibly have against Bussmo ambition.

F. Heard, when he executed these deeds for interview of the writer with bis nolicitor, ir, be clear. If deeds are placed in the bands of an jadgment na followale went the legs, property in the broatues au batik- Wong Aiuk, one of Culonel Möggridge's his ref and his partners whose powers of Ward, repeat his advise, give tigent directions auto-moy.natii a mortgage deed is prepared, no à I entirely coscar in the conclusion to which ruptny would do in assignees in bankraptoy The other foreign Fowers would not relish chair coches for absenting himscit from his my bald, coursed to the Praduate when the stares, preparation of deeds seeing security los motioy previously advaatad, such & Mr. Justion Sowden, han arrived. I had pres but that the legal title to que remained in seeing Russie installed at Peking, with power smplayer'e service without permieris, was the legal state in the property comprised in Mesara, Buring & Co. They are to be executar dippit would form an equitable mortgage nütil pared an elaborate review of the oases and the assignor in those name to their to impose what restrioticus upon trade shened ten stilling, and in defunt of payment the schedule. It in admitted that the variona selose a rotary pubis in snow a way that the the dead is executed, Keyer, Willama & Targamenta liich have bocu piesented to us, the trusteps were bound at law to one. If chase. But Russia is far too wise and too ( The seat to aven days hard Inbat

ederations rooted in the Ceeds were en contents may not be seen by bla-plagad luu 55. But if placed in his bands arely a stable but when the learned Judge showed me his Fourson. Pournon gone beyond this. I auf tirely fotitions unless the use of the £20,000 sealed pocket, deposited with the agent and im to preparo a mortgage dead, it would not be searching examination of the facts in evidence, unable to explain it, and if it goes beyond wary to risk defeat of her designs by burry- Oban Asban and two others were charged by drawn under the two set oredite can be foally when stopecia brada inevitable they an equitable mortgage. Els parte Bulwer, & Cox, nadalaw of oas cited and of others not cited, this, it is as counter to the current of the ing then She knows how to wait until Mr. F. R. Rodgers, of Mesor, Lammert, Atkin

held to be a present advance, and the are to be registered. The whole burden of AY, 219Thore most by coma understanding or I thought that it would be a waste of tíma to priules. I cannot follow it and I most follow political embarrassments to the hands of sun & Co, with stealing a bottle of jelly, valne fumis obtained under the three first formed an John Heard's letters, aswell as the telegrarun agreement or something and or done to oreate traal over the same ground. Finally, I deter authorities which I can understand. I had come dalecedent debt; but under the circumstages the produced, is "secure Maseru. Baring & to me in equitablo mortgage by deposit of deels, and mined to suppress may pag criticam of the arga to the conclusion before I was faily aware of her Europene neighbours and reader them in. Tan prosentor azid that, secins a bottle of defondantis, omuld not be, I think protemtol year onedita," has escule muigage to cover there is eathing of the Find hers. We now meal weed, and to state any decision on the case the decision in ex parte Anderson, L. capable of checking her avaneva. Then she jelly concealed, he watched to see who would from showing any good consideration really Mila drawn under them. Antul the instruc- come to she need of assignment made bud before us more concealy. In the trots, which 756, la which the Vice Chan. Baron a Chief Wil: bava noobjection to show ber band, as she river take it and plads under hin jacket, could georgia Coreanos in this spes the defer done alte predits. From the 2led. It was prepared on instructions from Mr. evidence, we come, but we liavu bad dificult section 107 of the Bunkruptcy Lot 1861 m

isks it and this blarning be aw the first prieiting, and if grossary Court of Equity four Mer A. P. Heard carried out in respect of executed on April lith and registered on the after musli labour we have eliminated from the Jadge in Baukroptay distinctly decided they didduring the Franco-German War, whon ab e The first prionpor tried to implicate the other ese als desde of February 2nd and 24th were $5 to 30th Januncy be exhausted them. I Parker Tho deed purports to be made by and In agreeing of the statements of thou, We the Chart of Bankraptoy jarisdiction over deeds virtually tore up the Treaty of Parle of 1856, however, were discharged. b was sent kept entirely secret. Now secrecy is got a proof, lavend doubt be prepared the Siege of Fubruary between Aug. Heuri & Co. the plaintifs as have come to the same conclusions in law. For registered under motion 194 in other woris

to four months hard labour,

bat one of the signs of trend, and they were God and th to cour, the difendunt, whidee trustees, and the preditors. It was excouted by the most part, I accept the remontow of thecoder car Oklinance that this deed is under the Wo, do not exactly understand the object

BEFORE THE Hum. O, MAT,-

not registered within one month from the date money be bad weed." He bicael ya in the plaintifs and 1 Parker for the firm, bla terned Judge. It is not important for jursaliction of the Court in Bankruptor; that of execution. This brings me to the next chiba deitor included in the sealed pucket com authority to do so being admitted, but not by the purposes of this case that the points to say, that these plaintiffs can, anunland A PICK POCKET

jéction made by Mr. Hasllar, which is,-Are kaing the mortgage doodi, and placed the day oneditor. It is in a common form. It coz not essential to those cozelanione fo which vado previous deeds and acts bad in Hankruptay. Wan Aping, a coolic, wis charged by a these deede void as against the trust deed, not matter beyond doubt, as it gema to ma. He voys all the estate of the debtore to the trustees, I do not entively acquiesca bould be specified. Ex parte Anderson decided in 1970 explains the, the still unsettled claim for satisfaction which gustina quan, natred Zebed.mirnoff, with buring Upon registered within que month of the shye, 1 beg to runpitulate de steps we here and contains the Casal Frieder. The denuate of This is the Brak out premisting gran law fully, and if that one in low, so I feel Russia has lately preferred against China re- picking his pocket and takipe, therefrom a date of their tresntion, and the frost dead have taken to guard you from all possible 1s from Aleier Barn & Co-nuc the defendants, the entanglement of fact, and much debated assured that it is, that these plaintiffs are in Lative to the plunder of a caravan by Chinees pocket book which odstained a dollar

in been so registered. The Lugistration Or the use of your cleun credit What pen this maly scared oveditors were obtained by telea to which we have mat in full Court under the same pcution and bare the same rights es he prisoner, who said the pocket book was d'aunou in perndesire. Deeds, eta, may be mean bet that these, mortgages, had begram They are almost the Ame, word for our code. I shink its maost inconvenient and wangueça in bastruptcy would be and havo IN subjects, But it is more probably a more dropped and he simply picked it up, was cons to registered, and pricity in given accordleg to the exeated to protect the defendur fram least word Washes to deed allowing Heard unadvisable proseeding. In the Cube onnes of thin suit d bad come to this condition without made by Russimo merchants, which own by thres months' hard lsbourg

respectiva dates of registration. If deeds, eta case of the failure of the dra?What were treaning business provided our doing so delay are repeatedly arisau, óving in part to folly, considering at parta Anderson, but that

The Daily Press.

Horakone, February 22nd, 1876;

HONGKONG AND WHAMPOA DOOK COMPANY, LIMITED.

The following Report of the Board of Direo icrs will be presented at the Ordinary Hall. yearly Meeting of shareholders, to be held at the face of the Company. Club Chambers, Hongkong on Monday, the 28th instant

To the Shareholders of the Hongkong and Whampoa Bock Company, Litted. Gontrast, The Direature have the pleasure to lay hefore you the usual half-yearly states went to Slot December, 1975, 2 The Gross, Earnings of the Company for the eix months acount to $290,245.30, an

which there is a net prefit of $30,967.87.

There were $11,602,00 carried forward list half year to new accoons, and this som’with

the profit just named makes now available, $12.790.98 Of which the Directare recommend the follow

$20,000.00

4,000.00 2,500.00 250,00

Leaving a tulance to be enried forward

to new arosant of

DIRECTORS.

for selection, Mrs G. B. Emory has been

pipared to the sont racated by Me. Deco,

and ba appointment has to be confirmed by the abareholders, ENA

AUDITORS.

the Russiane, od one plea or another vill steadily path southwards, until both Man P

chung and Cores are included in their at dominions. This advance accomplished,

of this reported new aggression on Olutess

- mail, but it may bave something to do with

$1.

SECRETÁST, M

21st February

BETORN JAMES RUS ESQ

SALARY CODLIS..

·AN: INFUDENT BEKVANT,

DISHONEST BREVINTS.

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