S W Dean

Dean, S. W., earthenware &
white granite and vitreous
manufacturers, Newport
Pottery

from..... 1907 Staffordshire Sentinel
'Business Reference Guide to The Potteries, Newcastle & District'

These marks continue to use the mark of a greyhound. Edge, Malkin registered this as a trade mark in 1873
The marks also incorporate a Stafford Knot with a Crown above

Report of Bankruptcy Proceedings
The Pottery Gazette August 1, 1910

DEAN, SAMUEL WEBSTER, earthenware manufacturer, Middleport, Burslem, Stafford.

This debtor attended at the Town Hall, Hanley, on July 19 for his public examination before Mr. Registrar E. Tennant. A receiving order was made on May 27, on a creditor’s petition.

The debtor’s affairs showed that the gross liabilities amounted to £29,359 6., and £10,220 16s. 11d. was expected to rank for dividend. The assets amounted to £278 18s. 9d., leaving a deficiency of £9,941 18s. 2d. The Official Receiver, in his observations, explained that having regard to the debtor’s various transactions, which were involved and somewhat complicated, and to further information which had been required, some delay had taken place in lodging the statement of affairs. At the first meeting of creditors, Mr. F. S. Salmon, Oxford-street, London, was appointed trustee of the estate, with a committee of inspection. The debtor had been adjudged a bankrupt.

The examination was conducted by the Official Receiver (Mr. F. T. Halcomb). Mr. E. W. Hollingshead appeared for the trustee and petitioning creditor, Mr. R. P. Llewellyn for Mrs. and Miss Dean, mother and sister of the debtor; Mr. C. H. Norris, for the trustees of the debtor’s marriage settlement, and Mr. H. W. Worthington for creditors. Mr. F. W. Harris watched the interests of the debtor. The debtor, in reply to the Official Receiver, said that at the date of the receiving order the total amount of his liabilities was £10,220 16s. 11d., and he disclosed assets to the value of £330 10s.

For many years past he had carried on business at Burslem as an earthenware manufacturer. He commenced manufacturing in his own name in 1892, and in January, 1904, he entered into partnership with Donald Macdonald, and Isaac Allman, under the style of the Lodge Brick and Tile Co., Trent Vale. The capital provided by him was £500. That sum he borrowed from the United Counties Bank, for some time known as the Birmingham and District Bank. In 1905 he sold out his interest in that concern for £250 to a Birmingham man, whose name he could not recall.

In October, 1904, debtor entered into a partnership with Mr. W. S. M. Edge, his father-in-law, to carry on business under the style of Edge, Malkin & Co., at the Newport Pottery, Burslem. The capital to be provided by him was £500, and a second £500 was to be provided by him in twelve months. The first £500 was paid on the completion of the partnership arrangement, the money being lent him by his father, the late Mr. Arthur Dean. The second £500 was not found. When an investigation was made it was found that the financial affairs of the concern were not as represented in the schedule prepared by the firm itself.

Between 1904 and 1909 debtor paid in £1,500 obtained from shares in the Sneyd Colliery Company. That money was advanced him on loan.

In July, 1909, a company was formed under the style of Edge, Malkin & Co., for the purpose of carrying on the business of the Newport Colliery. The capital of the company was £35,000, divided into £1 ordinary shares. The debtor was to receive £4,616 - £500 in fully-paid preference shares, and £4,116 in fully-paid £1 ordinary shares. The company went into liquidation on April 29, 1902. Mr. Clarke was appointed receiver, and on Sept. 30 of the same year, debtor took over from the receiver the assets belonging to the company, estimated to represent £12,519. He also took over the liabilities - £6,463. He continued the business on the same premises up to April, 1909. Further capital to the extent of between £6,000 and £7,000 was introduced by him between October, 1902, and April, 1909.

In April, 1906, a company was formed under the style of S. W. Dean, Ltd., with the object, amongst others, of acquiring and carrying on his business upon the same premises as an earthenware manufacturer. The company was registered, but as a matter of fact it lay dormant until the agreement for sale and purchase was executed in March, 1909. The consideration was £12,000, divided into 8,000 £1 fully-paid shares, and £4,000 in cash, the company undertaking to pay his debts, existing on, or incurred since, June, 1908. There was a large surplus of capital, and they took the opportunity to write some of it down, in order to stand on a proper financial basis. Questioned upon this matter the debtor stated that the capital was reduced by £8,000, as it was considered it would be prudent from a financial point of view, to write down the assets to a considerable extent. Asked if having regard to the fact that in 1906 there was a loss of £1,835, he was justified in drawing a sum of £1,623, the debtor replied that he considered he was justified in so doing, having regard to the fact that he had put £4,000 more into the concern.

The Official Receiver: In the next year you drew out £4,884. During 1907 the total loss on the first six months was £2,276, and in the last six months a further sum, making a total loss for that year of £2,986. Do you think, in these circumstances, you were justified in drawing out of the business £4,884? Debtor: Not under the circumstances but I then repaid it. The Official Receiver: In 1908 there was a net profit of £166; do you consider you were justified in withdrawing £1,322 from the business? Debtor: I can only defend myself by saying that the money was replaced into the business. Replying to further questions debtor stated that the replacement of the capital was brought about chiefly by the proceeds of the sales of certain shares belonging to his mother and sister. Under those circumstances he could not now say that he was justified in withdrawing the sums mentioned. He was not a debenture holder in the company, though there were debenture holders in it to the extent of £7,000. The holders were the United Counties Bank. At the formation of the company in 1908, he was indebted to the bank to the extent of £7,429, and his indebtedness was discharged by the payment into his own private account of £4,000 received from the limited company, and by the sale of certain shares. Those shares belonged to his father's estate, of which he was one of the trustees. Proceeding, debtor stated that the business was carried on until April 5 of this year. He did not think the assets would realise more than sufficient to repay the debenture holders.

Examined as to his father's will, he stated that the major part part of his father's property consisted of 3,667 £5 shares in the Sneyd Colliery Co. His father died in 1897, and he had sold the moiety of shares to which he was entitled. The official Receiver: As a matter of fact the shares belonging to your mother and sister have also been sold by you. Debtor: With the exception of 229 shares, yeas. The debtor added that he executed a declaration of trust in May, 1910. It was made between himself, his mother, and his sister, and stated, amongst other things, that the whole of the colliery shares had been transferred to his (debtor's) name. The inquiry was adjourned until August 24.