INTERNATIONAL EXHIBITION. DEBTORS AND CREDITORS ACT.

New Zealander, Volume XVIII, Issue 1739, 5 November 1862, Page 5

INTERNATIONAL EXHIBITION.

DEBTORS AND CREDITORS ACT.

Class j. (From the “ Times,” Augusu !).)

We now proceed to examine all the objects presentin.-' any special feature of interest which are included in' Class I. under the general term " iron." There are, as we have previously stated, three distinct and well known varieties of tliis metal—namely, wrought iron, steel and cast iron. We commence with the last, because it is that which, except in a few comparatively unimportant cases, is always produced from the ore m the first instance, and from which the other two are derived by subsequent processcss. Cast iron is essentially iron containing about two percent, of carbon, •aid upwards; and in that which occurs in commerce certain other elements arc also invariably present which may greatly modify its qualities. The carbon may exist in two states in cast iron; it may be wholly in ehymieal combination, forming common white iron; it may in great measure exist diffused through the substance of the iron, forming gray iron; or it may be partly combined and partly in a state ot graphite, forming mottled iron. The quality ol cast iron, caUris paribus, depends upon the proportion and the mode of existence of the carbon. In commerce, cast iron is classified according to its degree or grayness, and is distinguished by the numerals from 1 to 8, No. 1 being the grayest, and No. 8 white iron, the six intermediate numbers indicating successive degrees of ' diminution of grayness. Very grey iron produces, when melted, a fluid iron, and is employed for castings.

No 1 4 is still a gray iron, commonly known as fore-pig, and is well adapted for conversion into wrought iron in the process of puddling. To explain this subject properly would require much greater space than we have at our disposal; but the preceding general remarks will suffice for the ordinary reader. Cast iron, as it comes from the blast furnace, in which it is reduced from the ore, is termed pig iron; because the metal is allowed to run in long narrow parallel moulds in sand, forming ingots, which arc fancifully designated " pigs," while the metal in the channel which supplies the pigs is termed the " sow." When pig iron isremclted in cupola furnaces for foundry purposes, it is termed cast iron. These are merely technical differences of nomenclature. We employ "cast iron" as a generic term, and apply it to the metal direct from the blast furnace, as well as that which has been remelted. Cast iron was not known to the ancients, and probably does not date much further back than the age of Elizabeth, but its early history is still very obscure. One archaeologist states that he has met with a slab of cast iron qf the date of the 13th ceutury, in an English churchyard; but we consider that this statement requires more evidence than has yet been advanced. Of all metallurgical discoveries, we believe that of cast iron has produced the greatest influence on mankind. To it we owe the abundant production of iron at a comparatively low cost. Formerly, as we have already stated, all iron was obtained direct from the ore in the state of malleable iron, in which it was forged at once into any convenient form, whereas now cast iron is first obtained, and afterwards malleable iron, as a secondary product, and it may seem paradoxical that iron may be made more cheaply by two processes than by one! Yet such is the fact, under present conditions, with respect to the price of labour, and supplies of ore and fuel. The history of iron is invested with a degree of interest which wc might almost term romantic, and which, if simply and completely told, would give pleasure to every intelligent reader. In quotations of prices in this journal, the expressions " pigs are dull," " pigs are looking up," or " pigs are firm," must often, we think, have been regarded by many persons as incomprehen-

sible jargon, and may sometimes have been erroneously applied to animate instead of inanimate objects. But when it is known that they relate to the state of the market of one of the most important productions in the world they appear in a very different light. The total amount of pig iron now annually produced in Great Britain alone"is about 4,000,C00 tons, of which the value may be estimated at about £13,000,000.

The points of interest relating to pig iron are quality, largeness of yield, price, and improvement or novelty in the smelting process; and under these heads respectively we shall consider the illustrative specimens in the Exhibition.

The quality of pig iron varies much with the nature of.thc ore and fuel, andjthe mode of smelting. Charcoal is the fuel which, crcleris paribus, yields pig iron of what is termed the highest quality; and this seems especially to depend on the absence of sulphide of iron, which is always present in coal and coke. It is only in localities where wood is abundant and cheap that smelting by charcoal can be profitably conducted; yet, strange to say, at Lorn, in Scotland, and at Ulverston, in England, charcoal blast furnaces still exist. The produce of these furnaces is exhibited under No. 141 of the British Department. The pig iron is in request for making "malleable cast iron," and sells at about £9 per ton. The Pontypool Company have recently applied one of their blast furnaces to smelting with charcoal, which is made in the neighbourhood, and the price of their pig iron ranges from £8 to £9 per ton. Now, we have ascertained that good Swedish charcoal pig iron may be imported into England at about £C per ton; and, unless there are special reasons of which we are ignorant, we do not understand how competition in this article can be successfully maintained with Swede i. Excellent illustrations of charcoal pig iron will be found in the Zollverein, the Swedish, and the Austrian dfinftrfcrnftnts. The 'Kinsiinw furnaces, in

Sweden, produce pig iron of first rate quality for cast iron guns, and of this samples are shown under No. 11. The variety which has been found best adapted for the purpose is slightly mottled, the fractured surface presenting a kind of fine net work of white iron enclosing gray iron in its meshes. It is asserted, and we believe on good grounds, that, contrary to what many persons might anticipate, this quality of pig contains much more of sulphur than usually occurs in Swedish pig. It is worthy of note that, within certain limits, the presence of sulphur, even in wrought iron, does not diminish its strength while cold, though it causes it to crack in forging at a red heat. We would direct particular attention to the numerous and beautiful specimens of spiegeleisen in the Zollverein. The essential peculiarity of this metal is that it contains a large amount —frequently as much as 5 per cent.—of combined carbon, and a sensible proportion of manganese, upon the presence of which the retention of the carbon in a state of chymical combination appears to depend. Spiegeleisen is intensely hard; and it is, as we have before stated, in much demand for steel making, especially on the Continent. It must not be confounded with common white iron, in which also the carbon is wholly combined, but which differs from spiegeleisen UtßdfUny —uOnAi ■ «i">naaa"—i*iw»t««. Iww spiegeleisen in the Zollverein are smelted with charcoal only, and these are the most beautifully crystallized, and the only ones in which the large, distinct, intersecting plates occur; others are smelted with a mixture of charcoal and coke (see No. 838); and others, again, are smelted wholly with coke (see No. 704). Coke spiegeleisen is produced and exhibited by the Weardalc Company (see No. 394), and we arc not aware that this kind of"pig iron is yet regularly made elsewhere in Great Britain, though we are informed that it is intended to produce it in South Wales. As this is a

problem of some interest at the present time, we give the following details of the furnace charges used in producing No. 704, above referred to. It comes from the works of M. Dresler, of Siegen. The ore consists of a mixture of 2-10ths brown iron ore, and 8-10ths spathose ore. For a 100 parts of weight of spicgeleisen 120 of coke are required. The blast-furnace cinder is always green. We arc informed that numerous inquiries have already been made by English consumers with reference to the importation of Siegen spiegeleiscn. The " chilled rolls" cast direct from the blast furnace at Malapane, in Silesia, arc worthy of attention (see No. 755, Zollverein). They have long been celebrated in Prussia, and were formerly only cast at these works, whereas they are now made in the same manner at other establishments. The iron of which they consist is mottled pig. It is made from a mixture of brown and clay iron ore, and is smelted with a mixture of charcoal and coke. With regard to pig iron smelted with coke or coal, all the characteristic varieties produced in England, Wales and Scotland, arc represented. There are two great divisions of pig iron, " cold-blast" and', hotblast." The former is made with air blown into the furnace at the ordinary temperature, and the latter with the air at a temperature ranging between 600 degs. and 800 degs. Fahrenheit. Cold-blast iron is in request for various special purposes, such as castings, where strength is an object of chief importance. It commands a much higher price than hot-blast iron, because it requires a much larger amount of fuel for its production. The temperature of the furnace is higher when hot-blast is employed, although the amount of fuel is considerably less, contradictory as this may seem; and, as a consequence, it is generally admitted that certain impurities, especially silicon, pass into the iron in a greater degree than in the case of cold-blast iron. But one reason of the inferiority of hot-blast as compared with cold-blast iron is, undoubtedly, that inferior ironproducing materials and qualities of fuel may be employed by means of hot-blast, which cannot otherwise

be profitably used. Much might be advanced on this important subject if this were a fitting opportunity. Under No. 201, of the Lilleshall Company, Shiftnal, Shropshire, is an interesting series of specimens of hot and cold blast iron placed in juxtaposition; and we think it would puzzle even an experienced eye to discover any decided difference in the fractured surfaces. The Blaenavon (No. 29) and Fontipool (No. 95) coldblast pig has had, and still maintains a high reputation. The price of the latter now ranges from £6 to £4 12s. (id. per ton at the works. Good cold-blast pig from the Colebrook Vale works, Monmouthshire, is shewn under No. 200. Shropshire and Staffordshire still continue to yield cold-blast iron of high quality; specimens from the former country have been above alluded to (No. 201), and specimens from thel attcr country will be found in the magnificent collection sent by the Earl of Dudley (No. 332). Borne, however, of the well known and highly prized Staffordshire " makes," such as the Nethcrton.'arc not represented in the Exhibition. It is possible there may be some which have escaped our attention; for wo have accidently found in our wanderings in the other classes many collections which ought to have been placed in Class I. Thus, No. (5,016 of Class 31 is a collection sent by the Chillington Iron Company, near Wolverhampton, and nearly every specimen, except the patent horseshoes, belongs to Class 1. The juries have been sorely puzzled in some cases with respect to objects submitted to their adjudition. To revert for a moment to Staffordshire. The ironmasters of this district have sadly held back; and they are under a great and lasting obligation to the indefatigable and veteran agent of the Earl of Dudley, Mr. Smith, for the manner in which he has vindicated the reputation of the country. We shall have occasion hereafter to speak of the line scries thus contributed from the works of the noble earl, whose name is classic in the history of the iron manufacture of Great Britain. We are at a loss to account for the supineness of some of the great Staffoi'dshiro lirms, unless accumulated wealth has paralyzed thoir energies, or competition in

the world's display was considered derogatory to their position, notwithstanding Lords Dudley and Granville ore exhibitors.

It is a remarkable circumstance that nearly all great metallurgical improvements have depended upon apparently trifling changes, and of the truth of this the hot blast furnishes a striking illustration. Who conld have imagined that by gently heating the air before it enters the furnace the consumption of coal would have been almost immediately reduced from eight tons to three for one of pig iron? The money value alone of this invention is incalculable.

We should not pass over in silence hot-blast pig iron smelted with anthracite, of which specimens are sent from the Yniscedwin and Ystalyfera works in Swansea Valley (see Nos. 429 and 431). Anthracite was first used as fuel in smetling iron by the lato Mr. Crane, at the former works. The metal is of good quality, and produces strong castings and good sheet iron. Most of the anthracite of South Wales has the defect of splitting much when heated, and so forming a large quantity of fine particles or dust; and this accumulates during the working of the furnace in such a degree as seriously to obstruct the passage of the blast. Various experiments have been made with a view to prevent this evil, but none have as yet been successful. Anthracite is largely employed in Pennsylvania for smelting iron, and, owing, as we understand, to its comparative freedom from the defect just mentioned, is reported to answer admirably.

The second point for consideration is largeness of yield. Great progress has of late been made in this respect. In the Great Exhibition of 1861 there was a model of a blast furnace from the C.vm Celyn works. Monmouthshire, which had yielded a weekly average of 209 tons of white pig iron during 12 consecutive months. This was regarded as a very large amount. For a long time past we have watched the gradual increase of yield in different districts, and this is certainly one of the most interesting points connected with the development of the iron trade in modern times. We remember, not many years ago, when a weekly return of 70 tons was considered good, but now a single furnace has yielded the enormous amount of 600 tons in a single week; and we have no reason for supposing that the maximum limit of yield has yet been reached. Some of the Aberdare furnaces are reported to have done excellent work, and to have yielded a weekly average of 400 tons. This has been effected by what is called " driving hard " — i. e. sending a large quantity of blast through the furnace in a given time. An instructive model, to scale, of one of these furnaces, together with numerous illustrative specimens, is exhibited by the Aberdalc Iron Company (No. 3). Great yields have recently been obtained at the Barrow-in-Furncss works, Cumberland. These works are quite of recent construction, and are represented by a costly mahogany model, which is made to open, of one of the furnaces; and this, in our judgment, conveys more instruction than its big brother. The proprietors have evidently incurred great expense in the construction of this large model, and in so far they deserve credit: but, if their object were really to communicate useful information respecting their works, we beg to express an opinion that the result is utterly disproportionate to the outlay. The average yield in one of theso furnaces per day during the fortnight ending the 16th of April, 1862, was 91 tons 7cwt. 3 qrs., orthe enormous amount of about 640 tons (short weight) in a week of seven days. In one week this furnace yielded not less than 684 tons (short weigh) ! The qualities of the pig iron were 3-5 between Nos. 1 and 4, and 2-5 between Nof. 5 and 6, inclusive of 35 tons of mottled pig. It is exclusively rich red ore that is smelted at these furnaces, and the fuel is Durham coke. The waste gases aro economized in raising steam, and their propulsion to a distance is aided by the exhaustion of a fan. The pipes conveying the gases are provided with expansion joints. Great advantage is attributed to the manner in which the gases are taken off from the lurnace, and to the mode of filling; but whether, in these respects, there is such a decided advantage as is represented, wo are hardly prepared to admit without further trial. This company is enabled to sell pig iron at about £3 per ton, which is considered a very low price for haematite pig. But all haematite pig is not of equal value, as it is subject to much variation in composition, especially with regard to silicon, we have reason to know that the trade is hardly yet sufficiently alive to the importance of this fact. It should be borne in mind that in the process of puddling one part by weight of silicon will cause a loss of about four parts by weight of iron. We have recently known some ironmasters excessively puzzled to account for the great loss of iron in their puddling furnaces; but analysis of the pig iron which they used revealed the cause,—it contained from 4to 6 per cent, of silicon. We have, however, no reason to suspect the presence of anything like that amount in the pig iron of the Barrow-in Furnace works, though, probably, it contains the usual proportion.

The third point for consideration is price. There may be great merit in producing iron at a low cost. Cheapness may be the result of a great and judicious auii tuuuuwlOuu’ oaf^atiry. qi* Jf, rnoy JojixmJ novel and important improvement; or it may be determined by exceptional conditions, as to locality and the supply of ore and fuel, of one or both, at an unusually low rate. In the present Exhibition may be found several examples of the operation of the first of these causes; but this is too delicate a subject for public discussion. There is not, so far as we are aware, any decided illustration of the operation of the second cause, if wc exclude the application of the waste gases, which is now of comparative old date. Great Britain has been slow to adopt this great improvement; yet since the Exhibition of 1851 the application has become much more extensive. At one large establishment in South Wales, the saving duo to the utilization of the gases as a source of heat is estimated at not less than Iscwt of coal on the ton of pig iron. Of the effect of the third cause some of the Cleveland works furnish satisfactory examples. The low rate at which the ore can be put into the furnace in this district is the one exclusive advantage. We would call attention to No. 51 of the Austrian Department. Charcoal pig iron is here shown, which it is stated on the best authority, is produced with a consumption of less charcoal than is known in any other locality. The ore is brown decomposed spathoso ore, containing when roasted, 52 per cent, of iron, and the products are gray iron and spiegeleisen. Only 60 parts by weight of charcoal are required to produce 100 of pig iron. No. 75 in Austria is a collection of pig iron, &c„ which is interesting from the fact of the use of lias coal. Models of furnaces for melting iron and copper, and which merit attention, will be found in the Russian Department, No. 22. They are long and rectangular in horizontal section, and are provided with numerous twyers. One of these furnaces is reported to have been for smelting iron for a year and a half; and others are in process of erection. A largo yield, and reduction in the amount of fuel are stated to be the advantages of this kind of furnace. A largo oval furnace had been previously proposed and employed by Alger, of the United States. As a general rule, opinions concerning modifications of furnaces aro of little value without the knowledge derived from actual trial. It is hardly within our province to dilate on iron castings, though wo are much tempted to do so. In the Prussian Department, near to the Western Dome, are many beautiful objects from the Royal Foundry at Berlin, and from the works of Count Stolberg-Wer-nigerode, at Ilscnberg, in the Harz Mountains. Franco also exhibits magnificent castings, many of large dimensions, and some very instructive from the fact of their being in nearly the same state as when they left the mould. Wc conclude this article with a notice of a collection in the British Department, No. 286, formed and exhibited by Mr. David Price. It is described in the catalogue as “ Illustrations of the smelting of iron in Great Britain. Analysis of specimen.” The idea is excellent, and the collection contains many objects of interest. Dr. Price has evidently a scientific as well as s practical knowledge of this subject, and deserves much ' credit for his labours; but we must remind him that s he has not yet fulfilled his promise to the public ol i affixing the results of the analyses. We have re- ) peatcdly visited this collection in the hope of studying 1 these results; but they were not presented on Saturday 1 last, though the announcement of this promise in \c 1 1 legible characters still remained in the case. W< ueen i that the doctor will not subject us to further d 1 . ment in this matter. The pledge has beer ~ I made, and ought to be cheerfully rede' r further delay. _.y situs

1 to the. „n, at current I AHNIVKESABY OF THE BATTL EY > OCf J A g Cnt > Q UeeD " r yesterday being the 61th aniver j u > Nile, we give the names of th OR T$ j 0 , " 3 together with the rank they tISiABK, f for ™ . now hold, and the ship in whiy L ty W » WILLIAM 3 Admiral (retired) Sir James Atfl. —Bth t I Governor of the Royal _- 3 midshipman of the Goliath. G'. t jdR~DGE • (reserved 1851) sr£s!g%ea-ti of Works' EN T, 1 John Forbes (rf c & qckland. i Minotaur. Q ... 1 tired 1845, ;co Mrs. Morey'S . .. orFamiliw c Hospital) 7^ . Georse Be' een O-sJ c 13elle°rophJon house, fabnel." <ss ,1 of the for Single be ». n \-OUc. -11 P -^by o^ 4 / Hotel, Qnete to • , AND ST Am he C -lys wish ,/oundSJi v ould *> r theiJ of ' Ban ,'iated .itutio, URNER,- [ s [ ncr ihe said Client, ation \.^> New Ze al"

Be it enacted by tlio General Assembly of Now Zealand in Parliament assembled, and by tbo authority of the same, as follows: 1. The Short Title of this Act shall bo “ The Debtors and Creditors Act, 1862.” 2. An Ordinance passed in the year 1844 in the 3rd Session of the Legislative Council of the Colony of New Zealand intituled “ An Ordinance for the relief of persons imprisoned for Deb.,” and “ The Imprisonment for Debt Ordinance Amendment Act, 1861, are hexoby respectively repealed. 3. It shall bo lawful for any debtor who shall have been taken in execution under any process issuing from the Supremo Court or from any Court of inferior jurisdiction for any debt or sura of money to apply by petition to a Judge of the Supremo Court for discharge from custody and for relief according to the provisions of this Act. 4. It shall bo lawful for any debtor, not being a prisoner in custody, with the concurrence of ouo or more creditor or creditors to the extent of not less than fifty pounds in the whole, to apply by petition to a Judgo of the Supremo Court for sequestration of his estate for the benefit of his creditors and for relief according to tho provisions of this Act. 5. The petition by any debtor who shall bo in custody as aforesaid shall state the time of tho prisoner's committal to prison and tho name or names of the person or persons at whoso suit ho shall be detained in custody and tho debt or sums of money for which ho shall bo so detained, and that ho hath caused notice in writing of his intention to present such petition to bo personally served on such detainiug creditors as aforesaid or their attorneys or agents, which notice shall bo served accordingly. The petition whether by any debtor in custody or by any debtor not in custody shall also sot forth either in its body or by way of schedule a full, true, and particular account of all tho pctitioucr’s debts, liabilities and engagements, and tho respective amounts thereof as nearly as may be, and to whom owing, with the names, places of abode, and descriptions of tho persons to whom owing and tho respective considerations for the same: And also of all monies duo to or payable to him from any person or persons or on any account whatever and of all income whereof ho shall bo in receipt from any office, place, or employment whatever, and of all real and personal estate and effects whatsoever of or to which he shall be possessed or entitled in possession, reversion, remainder or expectancy, or of which ho shall have power to dispose and all such other particulars as shall from time to time by any rule or order in that*bchalf bo directed for tho purpose of enabling tho Court to judge as to tho state, circumstances, and condition of tho petitioner. The petition shall be subscribed by the petitioner and shall be forthwith filed in the Court for the district within which such debtor shall be confined, or shall have resided or carried on business. 6. If any debtor, being taken in execution for any debt, shall remain in custody for three days and shall fail within that period to satisfy such debt, or to lodge in Court such security for the same as to tho Court in its discretion shall seem sufficient, or if any debtor, not being in custody, shall fail to satisfy any debt and costs for which judgment shall have been recovered in tho Supreme Court or any inferior Court of Judicashall not be under appeal," add knaii "tail to lodge in Court such security for the same as to the Court in its discretion shall appealsufficient within fourteen days after the recovery of such judgment, or if any debtor shall within fourteen days before tho filing of the petition hereinafter mentioned have absented himself from his usual place of business or abode in such manner as shall reasonably imply the intention to defeat or delay the just demand of any creditor, or to avoid the service of any summons to appear in answer to any action or suit before the Supreme or any inferior Court of Judicature, or if any debtor shall with intent to defeat or defraud 3iis creditors suffer any of his real or perBonal estate to bo taken in execution or other legal process, or shall at any time, knowing that ho is at tho time unable to meet his engagements fraudulently and with intent to prevent the same being divided among the general body of his creditors have made away with, mortgaged, encumbered, or charged any part of his property of what kind soever, or if being a trader he shall at any time pawn, pledge or dispose of otherwise than by bona Jidc transactions in the ordinary way of his trade any of his goods or chattels which have been obtained on credit and remain unpaid for it shall be lawful for any creditor or creditors of such person to the extent of not loss than fifty pounds to apply by petition to any Judge of the Supremo Court, setting forth in such petition any of the above recited causes, and the particulars of the debt or debts due and owing to him or them and praying for the sequestration and cession of the estate of such debtor for the benefit of the creditors generally in the manner provided by this Act. The petition shall be subscribed by the petitioner or petitioners and shall be forthwith filed in the Court for tho district in which such person shall have resided or carried on. business. 7. Any petition by debtor or by creditor ns hereinbefore provided may be presented at any sitting of tho Supreme Court or before a Judge in chambers, and every petitioning debtor or creditor shall specify by affidavit the allegations contained in such petition, and every petitioning creditor shall produce such vouchers, statements of accounts, or other evidence as to the Court shall appear uccesano sary in support of his claim, tion. g. Tho Court shall sit for the dispatch of business accruing under tho provisions of { fa s^rsk ct suc * l pkmes and on such days as . F - " x ’go presiding in such Court shall from /. c Ai V;ime by notice in the Government * Cslfripfion B, oT v.V.9 Province in which the Court *a most j-easonablo tt ar Lppoint. 1 rovided that apph--oe: Wellesley-streetJS -jugs except for a final hear_,nurch. 0 r before a Judge in _ t-. * ATTr. J A CAltj,) ' Application shall bo made by 1. E. HAW SON, M.l> t,,. crc ditor in the manner First Gold Medalist and\sT' it shall bo lawful for the of King’s College, Loiest of the truth of the LATE SURGEON TO THE TARANAKI MILITIA 0U t0 ‘"TP 0 * 11 ! VOLUNTEERS, petition, 0 f NEAR THE WINDMILL, AUCKLAND; 'vertisement • -r /Athe day so [A card.] ~:tte of tho HENRY HARTWRIGHT, , in S 9 aro MANC II E S t“e R, ENGLAN D, ft ; ewK P Jl P CI ’- _ . . . . %y P U 'Or, such Commission Agent „g j,j s For the purchase ot all kinds of Lancashire, Yr: borjtven by shire, and Scotch Manufactured Goods. 0 s j (f jj a p. A schedule ul-i;

tached thereto, and such notice shall be delivered or addressed by post to tho address of every such creditor not less than 14 days before the day appointed for hearing. In tho case of a petition by a creditor or creditors it shall bo lawful for tho Court to grant a rule either nisi or absolute as tho Court shall think fit, calling upon tho debtor to appear in person before tho Court in the placo appointed for hearing tho petition, and afterwards at such time and from time to timo as the Court shall think fit, in order that such other proceedings shall be taken as are herein provided. 10. Every debtor who shall have filed a petition in the manner heroin provided, or who shall be ordered by rulo of Court in the manner hereinbefore provided to appear at tho hearing of a petition by a croditor or creditors shall attend or bo brought up on tho day appointed for the hoariug of such petition, and the Court shall on such day or ' on auy subsequent day which shall bo appointed in that behalf, examine such debtor on oath as to the truth of tho matters contained in tho petition, aud as to all other mattors requisite for enabling the Court to ascertain tho true state and condition of the debtor's affairs and his conduct and circumstances, so far as may bo material for the purpose of this Act, and the debtor shall attoud from timo to timo on such days and times for tho purpose of such examination until the final heariug as tho Court shall appoint. And upon consideration of tho matters aforesaid it shall be lawful for the Court to make such order or several orders cither at one time or from time to timo as to the Court shall seem fit for tho relief of such debtor and for releasing and discharging such debtor and his estato from all or any of the debts, liabilities or engagements specified in such petition or any part or parts thereof; and the Court may by tho samo or any other order, order and direct tho debtor to cede aud deliver, convey and assign all his estate and effects or any part thereof to such person or persons as to the Court shall seem fit, which person or persons may be recommended by the creditors, but which recommeudatiou it shall not bo obligatory on the Court to adopt; such conveyance and assignment to contain all requisite powers for enabling some person or persons named therein to recover and receive debts, monies, goods, chattels, estato and effects in any way belonging to or duo and payable to tho debtor, or any of such debts or monies, goods, chattels, estato or effects iu particular upon such trusts, with such powers, subject to such conditions and in such manuer as to the Court shall seem fit for the purpose of selling, disposing of, getting in and receiving or otherwise realising such estate, monies, goods, chattels and effects, and thereout of satisfying all costs, charges and expenses incurred by order of the Court, or incidental to tho execution of such trusts, and all fees of Court and such other sums of money as shall be ordered by the Court, and subject thereto for the purpose of such a just distribution and administration of such estate and effects between and amongst and for tho benefit of all or any of the creditors of tho debtor, subject to existing legel priorities or by way of pro rata distribution or otherwise, and inclusive or exclusive of any creditors of the debtor either in whole or in part, and generally in such manner in all respects as the Court in the fullest and most absolute discretion may think fit, aud shall i&, and , tl any such order made shall not within such time as shall be limited in that behalf by such order, make such cession aud delivery, conveyance and assignment, and givo such power as aforesaid; or in the first instance if the Court shall think fit, the Court may order tlie Registrar of tlio Court or such other person as the Court shall in that behalf appoint iu tho name aud ou behalf of the Debtor, to make and execute such cession and delivery, conveyance and assignment, and to execute such power and to make and execute all necessary acts, deeds and instruments whatsoever for vesting tho estate and effects of such debtor in the person or persons appointed by the Court upon the trusts, and in 'manner aforesaid. And all such acts, deeds, and instruments done and executed under such last mentioned order shall be as effectual as if done or executed by such debtor. And upon compliance by the debtor with tho terms of such order, the effect thereof shall be to release and discharge the debtor from any debts, liabilities, and engagements specified therein, and from liability in respect thereof, but so far only and to such extent and at such time and such manner and upon such terms aud conditions as shall be specified in such order, and every such order shall be published in the Government Gazette of the colony and also of the Province in which the petition is heard. 11. Tho Court may from time to timo adjourn the hearing of any application or petition under this Act to any time or place which it shall think fit, aud may examine the applicant or petitioner upon oath as to the matters stated in tho application of petition, and any creditor or person claiming to be a creditor of the applicant or petitioner, may attend any hearing of such application or petition, and may either by himself or counsel be heard in opposition thereto, and by leave of the Court may examine the applicant or petitioner and any witnesses which the Court shall think fit; and may, by such leave as aforesaid, produce and read to the Court any letters or documents whatever in any way relating to the affairs of the applicant or petitioner, and the Court shall have power to summon and compel the attendance of witnesses and the production of such books, papers, or writings as to it shall seem fit. 12. If upon tho day appointed for the hearing of any petition by a debtor the petitioning debtor shall not appear, or if such petitioning debtor shall fail to issue the required notices to creditors, or otherwise fail to comply with the requirements of this Act, it shall bo lawful for any creditor of such debtor to take up aud prosecute such proceedings, and thereafter such proceedings shall be conducted iu the same manner as if the petition had in tho first histauco been made by a creditor. 113. Any rulo or order of Court under this Act may bo sorved either personally or by being loft at tho last or most usual place of abode of tho person to be served, or if he shall have no such place of abode, then by being published once, at least, in some local newspaper circulated in the province in which the Court shall be held.

14. In case any debtor shall, pending any proceedings under this Act, die, or in case any debtor after notice of proceedings shall leave the province in which lie shall have resided at tho commencement of such proceedings, or in case he shall fail to attend at any time or place wliou and tit which ho was

bound to attend pursuant to tho provisions of this Act, or shall refuse to submit to examination or to obey auy order of Court, the Court may, notwithstanding such death, absence, failure, refusal, or forthwith exercise all powers hereby vested in the Court of couveying, assigning, disposing of, and otherwise dealing with tho estate and effects of such debtor.

15. The Court, upon full compliance by a debtor with tho terms of any order of Court mado in that behalf or iu accordance therewith, may order tho debtor to bo discharged from custody, and ho shall be discharged accordingly, and it shall be tho duty of all sheriffs and gaolers to obey such order. 16. Any order of tho Court under this Act discharging a debtor from auy debts, claims, or demands, shall have the effect of discharging him from the samo; and if thereafter he shall bo arrested, or if any action shall bo brought against him for any such debt, claim, or demand, he shall be discharged upon entering au appearance, and may plead that the causo of action arose in respect of a debt, claim, or demand from which he had been discharged under this Act, and may give this Act and tho special matter in evidence, and the order of dischargo shall be sufficient evidence of all proceedings precedent thereto.

17. In the caso of a petition of either debtor or creditor under this Act at any time after tho making or filing of such petition, it shall be lawful for tho debtor or for any crcditor of such debtor to apply to the Court for an ad interim order of sequestration of the estato and effects of tho debtor, and the Court may iu its discretion cither make or refuse to mako such order accordingly, and may by any such order direct that tho estate and effects of the debtor or any part thereof shall bo taken and held by such person or persons iu such manner for such time and otherwise in all respects as tho Court shall from time to timo direct, subject to such further order of tho Court as may be made under or in pursuance of the provisions of this Act. And every such ad in erim order of sequestration may DO published in the Government Gazette of tho province, or in some local newspaper circulated in the province where such sequestration shall take place; and from and after such publication all dealings with and dispositions of the estate and effects of the debtor so ordered to be sequestered, shall be deemed to be fraudulent and void as against any trustee afterwards appointed under the provisions of this Act. And the person or persons authorised in any such order may enter into, take possession of, and retain the estate and effects so ordered to be sequestered as aforesaid, subject to tho direction of the Court. And every such order of sequestration may be registered by any person appointed in that behalf by the Court iu any Register of Deeds or Register of Land, as against any land affected thereby : Provided that nothing in this Act contained shall prejudice any bona fide purchaser of any goods, chattels, or effects for valuable consideration, aud without express notice of such sequestration : and no such sequestration of goods, chattels, or effects shall have any force or effect until possession shall have been taken under.' the same, nor as regards real estate until such sequestration shall be registered as aforesaid.

18. In the case of a petition either of any debtor or of any crcditor at any time after of "to a judge at chambers, for an ad interim order of protection, which order the Court or such judge may in his discretion grant accordingly. And the effect of every such order shall be to protect the person and estate of the debtor from arrest, execution, or other legal process for such time and in such manner and upon such terms and conditions as the Court shall direct, and as shall in and by such order bo expressed, and all sheriffs, bailiffs, and other persons shall obey such order accordingly. And all proceedings iu contravention of such order may be stayed or set aside by the Court or a judge in chambers, or in case of proceedings in a Court of inferior jurisdiction by the presiding judge or magistrate of such Court, upon summary application. 19. If in any proceedings under this Act it shall appear to the Court expedient, and for the benefit of the estate of a debtor, that the same shall be wound up under inspection, or that the trade or business of a debtor shall be carried on wholly or in part, or that the final closing of such trade or business shall be suspended for any defined period of time, the Court may, upon the recommendation of tho creditors, at any meeting to be convened in pursuance of this Act, make an order accordingly, and such estate, trade, or business shall thereupon be managed, wound up, carried, or suspended, or finally closed, in accordance with such order.

20. If upon any hearing or examination of a debtor under this Act it shall be made to appear to the satisfaction of the Court, iu such manner as tho Court shall think lit, that three-fourths in number and one-third in value, or three-fourths in value and one-third in number of the creditors within the colony of any debtor aro desirous that the estato of such debtor shall be Avound up under a deed of arrangement, composition, or otherwise, the Court shall order all further proceedings under this Act to bo stayed for such a period as the Court shall think fit, and in such case the debtor or any crcditor of tho estate may at any time within the period during which the proceedings are so stayed, produce to the Court a deed of arrangement or composition signed by or on behalf of three-fourths in number and one-third in value, or threefourths in value and ono-third in number, of creditors in the colony of such debtor, and the Court may consider the same, and may examine on oath the debtor and any of the creditors who may desire to bo heard in support of, or iu opposition to, tho deed, and may make such other enquiry as it may think necessary; and if the Court shall be satisfied that the deed has been duly eutered into and executed, and that its terms are reasonable and calculated to benefit the general body of the creditors within tho colony under the estate, it shall by order mako a declaration of the complete execution of tho deed, and direct the same to be registered in tho Supremo Court, and shall also cancel any former orders as to it shall seem fit touching tho debtor or tho debtor's estate, and such deed shall thereafter be as binding ou any croditor who has not executed the deed as if ho bail executed it, provided such deed is registered as aforesaid.

21. In every such last-mentioned caso the Court may, if it shall think fit, make such order and direction for the winding up of the debtor's estate under, and in accordance with, such deed of arrangement or composition, but subject to such order aud directions as the Court shall from time to time make in behalf.

22. In every such last-mentioned case the trustees and all other porsons concerned in tho management and winding up of such estate, shall be subject to tho same provisions of this Act as aro applicable to trustees and persons concerned in tho management and winding up of estates under the provisions ot this Act. 23. Every deed or instrument mado or entered into botweeu a debtor aud his creditors, or any of them, or a trustee on their behalf, relating to tho deeds or liabilities of the debtor and his release therefrom, or the distribution, inspection, management, and winding up of his estate, or any such matters, shall be as valid and effectual and binding on all the creditors of such debtor as if they were parties to and had duly executed tho same, provided tho following conditions bo observed: that is to say, 1. A majority in number representing three-fourths in value of the creditors of such debtor whoso debts shall respectively amount to ten pounds and upwards, shall, before or after tho execution thereof by the debtor in writing, assent to or approve of such deed or instrument. 2. If trustee or trustees be appointed by such deed or instrument, such trustee or trustees shall execute tho same. 3. The execution of such deed or instrument by the debtor shall bo attested by an attorney or solicitor. 4. Within twenty-eight days from the day of execution of the such deed or instrument by the debtor, the samo shall be produced and left (having been first duly stamped) with the registrar or deputy registrar of tho Supreme Court for the district, for the purphse of being registered.

5. Together with such deed or instrument, there shall be delivered to such registrar an affidavit by the debtor, or some person able to depose thereto, or a certificate by the trustee or trustees, that a majority in number representing three-fourths in value of the creditors of tho debtor whose debts amount to ten pounds upwards, have in writing assented to or approved of such deed or instrument, and ako stating the amouut in value of the p.oporty and credits of the debtor comprised in such deed. 6. Immediately on the execution thereof by the debtor possession of all the property comprised therein of which the debtor can give or order possession shall bo given to the trustees.

24. The Court may in its discretion allow to any opposing creditor the costs of opposition, to be added to such creditor's debt or liability against the applicant's or petitioner's estate. 25. Lists of persons applying for relief under this Act shall be published in the Government Gazette of the province in which the application is made. 2(3. The Governor may by warrant under his hand appoint persons of mercantile experience, resident in the colony, to be mercantile assessors under this Act, and may from time to time remove such persons or auy of them.

27. If, upon the hearing of auy petition, or upon any enquiry or proceeding arising out of or in relation thereto, the Court [shall desire to be assisted or advised by a mercantile assessor or assessors upon anyquestiou, matter or thing whatsoever in any way relating to accounts or affairs, or of any particular account or affair, the nature of the arrangement proper to be made with or for the benefit of the petitioner's creditors, the terms and conditions of any order to be made by the Court, or upon any other matter or thing whatsoever in any way relating to or arising out of the petition, or any proceeding thereupon, it shall be lawful for the Court to summon aud require tho attendance of any ouo or more mercantile assessor or assessors named in such summons at any time or place to be named in such summons, and every mercantile assessor so summoned shall obey such summons, and shall be bound to attend the Court from time to time as may be ordered by the Court until discharged, aud to advise and

assist the Court in reference to the matters aforesaid in such manner as tho Court shall require. Aud for that purpose the Court may refer to such mercantile assessor or assessors any accounts, books or papers whatsoever, and may call on and require such mercantile assessor or assessors to mako a report to tho Court upon any specific question, matter, or thing which may be referred to them. And such mercantile assessor or assessors shall, in execting the duties so imposed on them, havo power to examine the petitioner and witnesses ou oath, and to call for the production of books, papers, and accounts, and to conduct their enquiries at such times and in such manner as to them shall seem fit.

28. lieforo the Court shall summon any mercantile assessor or assessors under the last section, the registrar of the Court shall cause notice of the intended appointment to be given to the debtor anil to any opposing creditor, aud such debtor or opposing c roditor may at any timo within three days after such notice, by notice in writing to such registrar, challenge peremptorily such mercantile assessor or assessors, aud so on for two successive appointments, and the debtor or opposing creditor may further apply to tlio Court, shewing cause why any other mercantile assessor or assessors should not bo summoned as aforesaid, and the Court may either grant or refuse such application. 29. The Court may order such rcasonab^ o fees and allowances to bo paid to such mna" cantile assessor or assessors as to tho Court shall seem fit, not exceeding three guineas per day for every day's attendance or occupation about such business.

30. No sale, mortgage, delivery, or disposition whatsoever of any real or personal estate of any prisoner iu custody, shall be of any force or effect whatever, unless the same shall be made with the consent of the Court, or such person or persons as the Court shall iu that behalf from time to time appoint, and no such consent shall be given unless it shall appear to tho Court, or to such person or persons, that the same is made bona fide, and is uot meant to defeat the prisoner's just creditors, or to givo unduo preference, or with any other fraudulent inteut whatever. 31. If any debtor who shall become subject to the provisions of this Act shall, being in insolvent circumstances, convey, assign, transfer, charge, deliver, or make over either voluntarily or fraudulently any security for money, bond, bill, note, money, property, goods or effects, or real or personal estate whatsoever to any crcditor or creditors, or to j other person or persons, every such transaction shall bo fraudulent and void as against any trustee to whom the estate and effects of

such debtor shall be conveyed or assigned under any order of Court made under this Act. Provided such transactions shall have taken place within three months next before such order made. Provided that nothing in this Act contained shall prejudice or afixct any bona fide purchaser for valuable consideration, without notice of fraud. 32. Every act, deed, disposition, or delivery of real or personal estate, goods, chattels, or effects whatsoever, made by any prisoner in custody, contrary to the provisions of this Act, shall be null and void, and of no effect. 33. Every trustee appointed under tins Act shall have the same power of recovering and receiving any debts, monies, goods, chattels, and estate disposed of by a prisoner in custody, contrary to the provisions of this Act, as effectually as if no such disposition thereof had taken place. 34. Where a person in custody shall bo maintained at tho public cha je, there shall bo paid out of the estate and effects of such prisoner, so long as he shall be so detained, aud so far as such estate and effects will extend, tho sum of five shillings per week for his maintenance; and the same shall be paid to the keeper of the gaol towards the maintenance of the prisoner, and accounted for by him accordingly. And tho court shall, in any order relating to the estate and effects of the prisoaer, under this Act, make provision for payment of such sums accordingly, in preference to any other debt or liability whatsoever. 35. A detaining creditor shall pay at the rate of five shillings per week for the maintenance of a prisoner detained at his suit; aud failing such payment, the court may order the prisoner to be discharged. The money so paid to beapplied in reimbursement of the cost of maintaining the prisoner. 36. Where there shall be several detaining creditors they shall contribute equally towards the maintenance of the prisoner, at tho before mentioned rate. On failure of a detaining creditor to make such payment, the debtor shall be discharged from custody as regards the debt due to the creditor so failing to make such payment. 37. Meetings of creditors of any debtor who shall como or be brought under the provisions of this Act, may be from time to time convened and held, by or under the direction of the Court, or in accordance with any rules or orders to be made by the Court, and which the Court is hereby empowered to make in that behalf, for the purpose of considering questious, matters, and things relating to the estate and affairs of such debtor. And the proceedings of such meetings shall bo regulated in such manner as may be appointed by any such rule or order as aforesaid; and such meetings shall have power to make recommendations to the Court touching any such questions, matters or things; which recommendations shall have such force and effect, and shall be obligatory, or not, on the Court, as may in aud by such rules aud orders as aforesaid be from time to time provided. 38. For the purpose of carrying into execution the provisions of this Act, the Court shall have power to employ from time to time receivers, agents, clerks, and accountants, and may allow tho merceantile assessors to employ clerks and accountants, and may incur other reasonable costs and expenses incidental to the carrying into execution the provisions of this Act. . „ 1 ov. tne purpose or forming a mud lor payment of costs and expenses'under this Act, there shall be paid out of every estate brought under administration through the provisions of this Act, a sum of one shilling in the pound, to be computed upon the gross amount of all monies recovered and received from such estate and effects, which money shall be paid in to tho Supreme Court to the credit of a fund to be called " The Insolvent Estates Fund."

40. All payments authorized by the Court to be made under this Act shall be paid out of "The Insolvent Estates' Fund;" or if there shall bo no monies applicable from such fund, then by the Colonial Treasurer upon an order of the Court to that effect, out of the general revenue of the Colony, by way of advance to such fund, and to be repaid when and as the state of such fund shall admit, by an order of the Court, upon application of the Colonial Treasurer.

41. If any person shall have been guilty of any of the following acts, deeds, neglects, or defaults, that is to say if he shall have contracted any of his debts fraudulently, or by means of a breach of trust, or by means of false pretences, or without having had any reasonable or proboble expectation at the time when contracted of paying the same, or shall have fraudulently, or by means of false pretenses, obtained the forbearance of any such debts by any of his creditors; or shall have put any of his creditors to unnecessary expense by any vexatious or frivolous defence or delay to any suit for recovering any such debts; or shall be imprisoned or liable for damages recovered in airy action for criminal conversation, seduction, or breach of

promise of marriage, or for damages recovered in any action for a malicious prosecution, or for libel, or for slander, or in any other action for a malicious injury; or shall have falsified any books of accounts, or being a trader shall have conducted his business or kept his accounts with gross negligence, or who shall have fraudulently concealed or misrepresented the state of his affairs or (with intent to diminish his means of paying and satisfying his creditors or any of them) shall have fraudulently discharged or concealed any debt due or growing due to him or to any person in trust for him, or made away with, or assigned, transferred, charged, delivered, or made over any of his estate or effects before or after the commencement of his imprisonment, or shall have been guilty of any fraud or misconduct whatsoever in reference to the management or disposition of his estate, or the contracting of auy unsatisfied debts, liabilities, or engagements, he shall not be entitled to relief under this Act until after the expiration of such time as the Court may order, —not exceeding one year from tho date of his fust imprisonment. 42. From and after tho passing of this Act, any debtor who shall become subject to tho provisions of this Act, and who shall do auy of tho acts or things following with intent to defraud or defeat the rights of his creditors, shall be guilty of a misdemeanor and shall bo liable, at tho discretion of the Court before which he shall be convicted, to punishment by imprisonment for not more than three years, or to any greater punishment attaching to the ollencoby any existing

aw :- 1. If he shall not, upon the service of any rule- calling upon him to appear beforo the Supreme Court, having no lawful impediment allowed by the Court, appear before such Court according to such vnlo

and submit to be examined from timeTT" 2. If he shall not, upon his examin> fully and truly discover, to the best of !•' kuowledge aud belief, all his property and personal, inclusive of his right credits, and all other particulars r eQ S to be disclosed by the provisions SS Act, otth «

3. If, within two months p revio the service of any such rule, he 8 j! Jf with intent to defraud his creditors re , conceal, or embezzle any part of his ° Ve ’ perty to the value of ten pounds wards. U P' 4. If in case of any person having his knowledge or belief, proved a f I debt, under proceedings taken under fa Act, he shall fail to disclose the same to I' 3 Court, or to a trustee or other p ers f appointed to manage the estate, with' 11 one month after the same coming to V* knowledge or belief. aiß 5. If he shall, with intent to defraud ' wilfully and fraudulently omit from V % petition or schedule any effects or propert! * whatsoever. 6. If he shall, after the petition is p re . seated with intent to conceal the state f his affairs or to defeat the object of tk law, conceal, prevent, or withhold tho p ductiou of any book, deed, paper, 0r writing relating to his property, dealing or affairs. 6 ’ 7. If he shall, after the petition is p re . sented or within three months next before' with intent to conceal the state of his affairs or to defeat the objects of the law part with, conceal, destroy, alter, mutilate or falsify, or cause to be concealed, destroyed, altered, mutilated, or falsified, any book, paper, writing, or security, or document relating to his property, trade, dealings, or affairs, or make, or be privy to the making of any false or fraudulent entry or statement in or omission from any book paper, document, or writing relating thereto. 8. If within the like time he shall knowing that he is at the time unable to meet his engagements, fraudulently and with intent to diminish the sum to be divided amongst the general body of Lis creditors, have made away with, mortgaged encumbered, or charged any part of his property of what kind soever, or if he shall conceal from the Court or from the trustee or person concerned in the management of the estate any debt due to or from him, 9. If he shall, either to tho Court or at any meeting of his creditors within three months next preceding the presentation of the petition, have attempted to account for any of his property by fictitious losses or expenses. 10. If be shall within three months next, before the presentation of the petition under the false color and pretence of carrying business and dealing in the ordinary course of trade, have obtained on credit from any person any goods or chattels with intent to defraud. 11. If he shall, with intent to defraud his creditors, within three months next, before the presentation of the petition, have pawned, pledged, or disposed of otherwise than by bona fide transactions in the ordinary way of his trade, any of

his goods or chattels which have been obtained on credit and remain unpaid for. 43 This Ar>t shall not extend to discharge any debtor with respect to any t&ht vxjfc t0 her Majesty or her successors, or -fc £ debt or penalty with which he shall stand Judged at the suit of the Crown, or of any person for any offence committed against any Act or Ordinance in force within this colony relative to any branch of the public revenue, or at the suit of any sheriff or other public officer, upon any bail bond entered into for the appearance of any person prosecuted for any such'offeuce unless his Excellency the Governor shall certify under his hand his consent that such person may apply to take the benefit of this Act.

44. The Judges of the Court shall, from time to time, make rules and orders for ascertaining the amounts and value of all claims of all creditors under this Act for the purposes of this Act, and otherwise for regulating proceedings under this Act, and may from time to time alter and rescind the same.

45. Notice of such rules and orders, and of all alterations and resciudings thereof, shall be published in the Government Gaette of the colony. 46. All trustees, receivers, agents, accountants, and other persons from time to time acting under or in execution of the provisions of this Act, or any conveyance or assignment made in pursuance thereof, shall, for the time they shall so act, ane eo far as they shall so act, be deemed to be officers of the Court, and shall be subject to and shall obey such orders as the Court shall, from time to time make.

47. The Judges of the Supreme Court '' shall settle, and may from time to timo alter, a table of fees to be paid by petitioners, creditors, and other persons, and a scale of allowances to witnesses and other allowances in respect of proceedings under this Act, which table of fees and allowances and all alterations thereof being alloAved hy the Governor in Council shaltbe payable accordingly. 48. The Judge of the Supreme Court in auy district may, by an instrument under his hand to be registered in the registry of the Supreme Court for such district, delegate to any person qualified, as hereinafter mentioned, the powers hereby created of exercising the jurisdiction and functions of the Supreme Court under this Act ; and the person to whom such delegation shall bo made may exercise such jurisdiction accordingly as effectually as a Judge of the Supreme Court. 49. The person to whom such delegation shall be made shail be a Barrister or Solicitor of the Supreme Court who [shall] hare practised in the Superior Courts at Westminster, or in the Supreme Court of New Zealand for the period of three years before such delegation, or a Resident Magistrate who shall have performed the duties of Resident Magistrate. for three years at least. 50. No such delegation of powers shall continue in force for any longer period than

one year. 51, No such delegation shall be of any force or effect until the same shall have been approved of by the Governor in Council, ana shall have been registered as aforesaid. 52. The term “ Court ” in this Act shall

mean the Supreme Court of the colony exercising jurisdiction in a separate district. The term " Creditor " shall mean also any two or more persons being partners and incorporated, and Joint Stock Companies. 53. This Act shall not come into operation until a day to be fixed by the Governor by proclamation, to be published in the Govern* mmt Gazette,