The Daily Telegraph. FRIDAY, NOVEMBER 16, 1883.

Daily Telegraph (Napier), Issue 3848, 16 November 1883, Page 2

The Daily Telegraph. FRIDAY, NOVEMBER 16, 1883.

AYe think tho commercial Avorld must lniA'o been taken by surprise on learning tho names of tho four gentle.nen avlio have boon recommended by the Ministry to his Excellency for the position of Official Assignees under tho new Bankruptcy Act. AYe A'enl lire the opinion that in neither of the four Supreme Court districts Avould one of tho names have been picked as that of tho most capable accountant in bankruptcy. Tho fortunate four upon Avhom, by a stroke of Government patronage, havo fallen tho prosnect of permanent appointments of tho value of something like £1000 a year, may Ik; said to bo unknown to commerce or commercial transactions. li. is difficult to hazard even a guess as to thoir special qualifications that brought them under tho notice of the Government for so responsible a position as that of Official Assignee. Mr LiLAVson is, perhaps, the only ono out of tho four AA'ho has had the training of an accountant. AYe believe he Avas an accountant in tho firm of Alessrs Brogdcn and Sons, and tho experience that ho may havo gained thcro qualified him no doubt to rcceiA-e a certificate as an accountant in bankruptcy under this present existing Act. AYe aro not a .varc, hoAvovcr, that he was ever in a business to Avhich such a certificate would have been a useful adjunct. After his retirement from Brogden and Sons he Avas for a short time the Commissioner for the North Island railways, but the appointment beingfound unnecessary ho disappeared from public life, and has up to a recent period, if not till now, been representing his old firm in their claims against tho Government of this colony. Mr Lravsou has been appointed the Official Assignee for the Auckland district. Mr C. Graham, avlio is to havo tho AVellington district, has been tho Town Clerk of the city of that name, but owing to the Municipal Council having determined to have a clerk of the legal profession for the future, ho Avill be at liberty shortly to devote his attention to bankruptcy business. For all avc know Mr Graham may be eminently qualified for this now appointment, but avc take leave to think that one avlio has had a more extended experience in commercial undertakings would have been more to the taste of business men. AVc uoav come to Air E. C. Latter, described in our telegram yesterday as " a well-known resident.". This perhaps, is an excellent qualification, but avo think something more should havo been required than to be avcll knoAvn. If avo are not mistaken Air Latter has been, or is, clerk to the Akaroa County Council. It is a fact that for a largo commercial centre like Ciiristchurcii Judge Johnston asserted that three certificated accountants in bankruptcy were quite sufficient, and he .vould allow no more. One of the throe dying, Hisllonor intimated that he Avould receive applications to fill up tho vacancy, and from those ho selected the ono he considered best qualified for a certificate. An appointment made in this Avay attaches to itself considerable Aveight, and undoubtedly tho three accountants in bankruptcy at 'Christchureh are esteemed tho best men in that lino of business. It is a significant fact that Mr Latter is not ono of those three, and, if Avhat wo hear be true, ono of the three applied for the appointment of Official Assignee under tho now Act;, and Avas refused it. Mr J. Ashcroft avlio has been .appointed for tho Dunedin district, avc should think, is hardly

to be considered a business man. For many years—eight or nino if avo aro not mistaken —ho was editor of tho Otngo ~D:taly Times, from Avhich ho has only very recently scA'ered his connection. Except on political grounds avo do not know what claim ho could haA'c advanced to the appointment of Official Assignee. The iicav Bankruptcy Act avus the outcome of universal dissatisfaction with tho law as it cat present stands. It was hoped that a return to th o old system of Official Assignees would remove somo of tho chief causes of complaint, and secure speedy settlements and liquidations of bankrupt estates. It .vas never con-,» templalcd for a single moment that tho appointments under the iicav Act would offer an opportunity to the Goa'eminent to bostoav patronage without tho strictest regard to the occasion that presented the opportunity. AYe venture to think that the proposed appointments will fail togiA-e satisfaction from tho fact that tho gentlemen named are quite unknown to the commercial world. Their Avant of experience iv dealing Avith bankrupts and insolvent estates leads to tho belief that in the centre of each district thero ■will arise a new department of bankruptcy, a regiment of clerks and hangers on, and that, as the expenses will all have to come out of estates in liquidation, the unfortuuato creditors may find that in getting rid of King Log thoy have fallen iuto tho hands of King Stork.