Volume Six - Pre-Victorian to the Present Day - Select Aspects - The Penarth Harbour, Dock & Railway Co. dispute with Messrs. Smith, Knight & Co. . .

1872 - (February) - London Court of Bankruptcy - "Before Mr. Registrar Murray - The Extensive Failure of Smith, Knight and Co., Saffron Walden, & Co. - This was a sitting for the proof of debts under the heavy failure of John Smith and George Knight, contractors, &c., of George-street, Westminster, Hornsey-rise, and St, John's-wood, and elsewhere, whose debts and liabilities amount to nearly £100,000. - Mr. Vernon from Messrs. Ashurst and Co., represented the trade assignees, and Mr. Skinner appeared as solicitor for the bankrupts and creditors.

A proof for £5.750 18s. 8d. was put in on behalf of Mr. George Stacey Gibson, of Saffron Walden, for money lent and interest. - Mr. Vernon said that there had originally been two separate adjudications against each of the bankrupts, but the proceedings were amalgamated on the 19th January last, and the proof should be against the joint instead of each of the separate estates. - His Honour asked when the adjudication was made. Mr. Vernon replied in 1868, and one of the bankrupts, Knight, had not surrendered; the bankrupt Smith had surrendered.

After some discussion the court admitted the debt as a claim to be hereafter turned into a proof upon giving up some shares held by the creditors in the limited company of Smith, Knight, and Co. - Another proof for £2,500 on behalf of a creditor named Robinson was also ordered to stand over the investigation.

It appears that at present the assets in hand are inconsiderable, but an action is pending between the assignees and the Penarth Dock and Harbour Company, which involves a sum of about £70,000, and which if received will be applicable to a dividend. After some proof of smaller amounts had been admitted the sitting ended." Chelmsford Chronicle [212] 16th February 1872.

1872 - (March) - Penarth Harbour, Dock, and Railway. - 'Two meetings in connexion with the arbitration pending between the Penarth Harbour, Dock, and Railway Company and the assignees of Messrs. Smith and Knight, have been held during the last six months. The arbitration has not, at present, however, been brought to a conclusion' - Engineering [516] [499] 8th March 1872.