DIVIDEND-PAYING CLAIMS.

Daily Southern Cross, Volume XXVII, Issue 4237, 14 March 1871, Page 2

DIVIDEND-PAYING CLAIMS.

To-ciny's market has been dull. 1 have effected the following sales : Thame3 at 111.; Shotovcrs at 7s ; Long Drives at I'M. 5s ; Belfnsts at 27s (id; Junctions ab 42s Gd; Cures at os (3d. Demand for New Zealand Insurance at 2\jL; Long Drives at IM.; Shotovcrs at Gs 9d ; Kelly s at 4s. — Martin Sholl, Sharbi oker, Queen-street.

Pkj/i; Essay on Commercial Morality : By James R. Webster, Dundee. — The fol" lowing is the conclusion of the Essay which (rained the £5 prize offered by the Dundee (Jioccrs' Educational Committee: — "It is long since the London meichants and traders directed the attention of the Legislature to the alaiming natuie of the evils arising out of the great amount of reckless and dishonest trading now earned on, and the insufficiency of our merr.iutilo laws to cope with tbem. In May, 1849, they appointed a committee to give evidence before a committee of the House of Loids, and the Times, reviewing their repoit, showing the immense annual loss to the community upon bankiupL cslt.tes, makes the following iemarks :— ' Without enteiing into details of the calculations, made by this committee, it may he safely slated that tins los 3 exceeds the &urn of 50,000.000/. This sum is mainly spent, lost, or squandered by the caieless, improvident, and reckless tradesmen. It is all repaid to thoso merchants, manufacturers, and tradeis who first bear the loss, as it forms a given peicentage added to the cost of ovary article produced. The improvident aie thus supported indirectly by the piovident. The ignoi ant and imprudent tradesman is supported by his intelligent and more careful neighbour, aud the reckless speculator by the capitalist and his more cautious rivals.' Yauoi'S a 1 .' or live attempts weie tneii and have since been mode to iminove our bankniptcy laws, but thu pnnually increasing number of bankrupts piovcs that the loot ot the evil has not ;> et bpcn leached. Legislation will nevcx mako men honoiuable, but it may do much to prevent flagrant dishonesty by severely punishing the puilty paity when it is pioved against him. In this particular our bankruptcy laws still require amendment ; hut leg.&lation alone will piove wholly inadequate to lemove the ciynig evils of conimmcial immorality That this is not a meichantb' question merely, but one that is woithy of the consideration of all loyal and earnest men, who are interested in the honour and prospenty of the nation, the iollowniK facts abundantly prove : - fn the year .nbove mentioned (1549), the number of pei sons that px-^scd ilnough the Bankruptcy Coin t was I,Jj9.'J. In the year 185S, the number had increased to 2, lib". We are not aware what is the exact number that have passed during the past intervening years ; but the following statement of the Tinier, on the abandonment of Loid Cairns's Banknvptcy Bill, and the introduction of a short one by Mr. Moftatt to prevent the worst evils of the existing system, may serve to show the enormous extent of its increase. The Tunes said :— 'The object of this measure is avowedly to check the 6,000 questionable parties who now annually pass through the Bankruptcy Court, at the public cost, and who are acquitted of their debts almost without inquiry, and to stay the open and scandalous frauds that are committed under deeds of arrangement. The total amount of unsecured debts passing under deeds of arrangement in 180" J was about 1,300,000 Z. The amount m ISGT had increased to 29,000,000/, and a very heavy proportion of that sum is behoved to be fc tainted with dishonesty.' Add to chat sum the total liabilities of those who actually passed through the Bankruptcy Com fc, and the result v. ill be one tlufc may well appal and bonify cveiy honest mind. Is it not a di&giace to the first commercial nation m the world that such facts as these are lecorded against it in this much- vaunted age oE progress ? This question is one that will ere long demand the serious consideration of all right-thinking men. The pievalcnce of these dishonest practices in commerce is like a great cancer eating into the very heart of the nation ; and if British honour and integrity are to be maintained before the nations, the surgical lancet of a healthy public opinion must be applied with fiimneds and decision to root out the loathsome disease. Before this work can be accomplished, however, much requires to be done in the way of perfecting the instrument. At the present time, the number of those who take the trouble to think of these things is comparatively small ; and the mass of the people are quite indifferent regarding the character of those with whom they do business. It matters not to thezn although their grocer may have passed through the Bankruptcy Court two or three times in as many years ; if he has a ' big bargain' to offer, they will provide the money, and he can always find purchasers."

Names of Companies. 1 ill 1 "O Date. Us 6h o P4 £. Si 000 28,000 24,000 16,000 21,470 192,000 55,000 127,000 20,000 (5,000 43,000 224,000 9/218 00,000 75/00 9 500 25,000 18.000 21.0 0 30,000 32,000 100,000 37,000 30,000 34 320 313,000 10 5 10 5 1 Is 1000 5 0 5 5 5 10 8 10 5 1 5 5 5 5 4 5 10 5 n 25 — 0 6^ 0 2j 0 8" 0 2 i 0 3 10 0 j 0 V, 0 2J 0 3" 1 0 0 H 0 2i 0 6' 1 10 0 1 0 1 0 15 'I 3 14 0 6\ 1 4? 0 7i 0 2V 637 0 0 2^ 2 4T-04 T - 0 3' 07 0 0 H 0 13 T . 0 (i" 4 17J 0 H 0 1 0 15 0 2 0 2\ 0 5" 0 6d 0 7id 0 10 ft 2J23 10 0 $ Q « All Nations Belfast Dixon's No. 1 . . . . Duuntless <fe S. to E Eureka Golden Crown Inverness Kuranui Kellys Long Drive Pride of the Karaka Shotover STo.l .. .. T*pu Great ltepublic Thames Una Vale of Avoca.. •.. Whau Nolan'i Cmdleligatl Waitemata Morring Star ... Multurn in P«vo . . Tokate* Alburnia ... „ .. J'uaction „ „ .. <J»lfdoninn „ „ Middle Btw „ „ Feb Nov Dec 3 Dec Sept Jan \pr 5 Dec 1 Sept Mar 0 Tan Nov P Oct2 MhlO My 18 Ucli 7 Tan'6o M.iYlO Dec 0 J]y 18 AuglO AuglO Vnpl7 Dec Mar D«c 13 o v : 0 l", 0 6tl 6 'id. 0 6 0 1 10 0 U H